In a recent Reuters story that discussed China's growing influence as America's largest creditor, it was reported that Treasury Secretary Geithner was asked for a special favor by a top Chinese money manager. What was this favor you ask? According to cables obtained and released by Wikileaks, in June, 2009, the head of China's powerful sovereign wealth fund met with Geithner and requested that he lean on regulators at the U.S. Federal Reserve to speed up the approval of its $1.2 billion investment in Morgan Stanley. Although the cables do not mention if Geithner took any action, China's deal to buy Morgan Stanley shares was announced the very next day.
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