Investing

Chinese Sue CNN For $1.3 Billion

CNN commentator Jack Cafferty is a insolent fellow. He commented about the Chinese saying "They’re basically the same bunch of goons and thugs they’ve been for the last 50 years". Nice touch.

Cafferty was upset about all of the lead-painted toys and other dangerous products that the Chinese are sending to our shores.

The Chinese struck back. A group of people from the mainland have sued CNN for $1.3 billion, $1 for each person in the country. According to Reuters "The case against the Atlanta-based cable channel, its parent company Turner Broadcasting and Jack Cafferty, the offending commentator, comes after 14 lawyers launched a similar suit in Beijing." The Chinese government called the action "spontaneous activity by Chinese civilians".

The move does seem a little unfair. None of the "citizens" in the US have sued Chinese factories or companies for tainted components in blood-thinner Heparin. That has killed over 80 people. And, the parents of the children who ate some of the lead-painted toys shipped here have been good enough to keep their attorneys out of the fray.

The Chinese people may simply be more passionate than their counterparts in the US.

The question is still open about how those $1 bills are going to be distributed to 1.3 billion people.

Douglas A. McIntyre

Sponsored: Want to Retire Early? Here’s a Great First Step

Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?

Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.

Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.