回复：Do u know what is bond and what is equity?

"the only expectation is to collect bond's interest, why China or other bond investors care about if it is a blackhole or not?" It's also a joke to hear this. I am surprised that you are so naive. If you can understand only to this level, then there is no need for me to argue with you.

In your definition, "intervention" is only something out of reach of the regulation. Remember, BSC is also within the authority of the FED. So, it's not an intervention, according to your definition. Then, you should say there is no intervention at all. I don't see any logic behind your argument. one more thing, those creative lendings by the FED is really not government intervention by your definition.

We need the government to put on regulations to make sure the stability of the society before hand, not afterward. 马后炮谁不会放。In a "free and open" market, so called US market according to your definition, a company got bankrupt should be so.