From The Big Picture:

Billionaire short seller Jim Chanos, founder of hedge fund Kynikos Associates Ltd., spoke to Bloomberg TV's Betty Liu this morning about China's banking system and outlook for the Chinese economy and real estate market.

... Jim Chanos whether the Chinese government has money:

"[The Chinese government] doesn't [have money], and that's the problem. The banking system in China is extremely fragile, and that's one of the messages we wanted to get to people."

"In fact, because what happened the last two crises, in '99 and '04, when non-performing loans went crazy in China without even a recession, the Chinese banking system was not re-capitalized like ours was, it was...

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More from Jim Chanos:

Jim Chanos: China is deteriorating rapidly

Jim Chanos: China's "hard landing" has officially begun

Must-read: Master short-seller Jim Chanos' presentation from yesterday's Value Investing Congress