In response to questions over their roles in underwriting the initial public offering of Chinese battery giant CATL Bank of America produced just 10 documents—9 of them public. JPMorgan produced a single public document.
Contemporary Amperex Technology Co., Limited, or CATL, is a key player in China’s military-civil fusion strategy—developing dual-use tech with both commercial and military applications. It has also been flagged by the Department of Defense for its close military ties.
“CATL’s industry-leading role in battery manufacturing—a sector explicitly targeted by China’s state-driven military-civil fusion policy—poses significant U.S. investor and national security risks," Chairman Moolenaar wrote in the subpoenas.
However, despite a direct connection to the People's Liberation Army and the CCP's military-industrial complex, the executives have failed to cooperate.
For years we’ve been warning CHQ readers and friends about the traitorous actions of Wall Street investment houses that have facilitated access to our capital markets by Red Chinese companies associated with the Peoples Liberation Army and other Communist military entities.
The latest, and perhaps most egregious, example of this treason is the Wall Street-backed initial public offering of CATL, the world’s largest producer of batteries for electric vehicles and military applications.
Back in March, the Pentagon added CATL to its blacklist of companies deemed to be working with the Chinese military, barring it from Department of Defense’s contracts. Yet, JPMorgan, Bank of America, Goldman Sachs, and Morgan Stanley among others, have signed on to raise as much as $7 billion for this Communist Chinese military affiliated company.
These traitorous Wall Street bankers are literally funding the development of Red Chinese weapons systems to be used against us and our allies, such as Australia, Taiwan and the Philippines.
“Congress has a duty to ensure U.S. capital isn’t funding the Chinese military. That’s why I’ve issued subpoenas to the CEOs of JPMorgan and Bank of America. We asked for answers months ago. They stonewalled. Wall Street shouldn’t be underwriting Chinese military companies," concluded Chairman Moolenaar in announcing the subpoenas.
- Chinese farmland purchases
- Donald Trump administration
- ban Chinese land purchases
- Wall Street
- China trade
- Jamie Dimon
- Brian Moynihan
- Contemporary Amperex Technology Co.
- CATL
- FrankenAI
- Artificial Intelligence
- Obamagate
- Representative John Moolenaar (R-MI)
- Chairman of the House Select Committee on China
