A complicated mix of scammer stealing billions from 7 local banks and fleeing to the US, corrupt and incompetent local government, greedy millionaire investors from all over china buying 9%-10% annual investment products, and misinformed locals whose deposits are frozen, but whose deposits (not investments) are insured by banking regulators.
The practice of using "officers or police on civilian clothing" is a common practice or trick in America, Canada as well, so don't presume to act so indignant about the Chinese police and or authorities for doing the same thing albeit their tactics varies. So I don't understand the problem.
Dont be an idiot here already, blackmailing state bank is an offense and wont get you anywhere. When you signed the form to invest in said fund, you already agree to accept the risk of losing capital invested.
Personal responsibility and accountability can't be always assigned to the government. It's not there to solve your dumb assery, human avarice, most especially greed for being enticed with wanting to get rich scheme.
Just imagine if the central government didn't outlaw crypto nonsense in China, the howlings and the screaming from some greedy idiots in China would have been worse. And yet, there was some persistent and lamentable comments that were made against the government rule expressing strong disagreement saying that the government rules were too suffocating for not allowing citizens the space to operate and "invest" blah blah...and the result so far has been catastrophic in the west, especially for the many folks that has been convinced to invest all their money in that scheme. @zhangjim you ought to be more restrained, introspective with your comments and not react so emotionally clouding your judgment by treating or looking at the government in the worst possible light. I do not deny that the government could have handled this issue differently but that's a far different matter to inferring some sort of meltdown that their action is a step away from deploying tanks against the people. You're quite susceptible and impressionable enough to be recruited by the NED types, Foreign intelligence operators because what you expressed, your mindset, you're disillusionment from the system, mistrust of the government, not to mention you're naivety and well intentioned care for your like minded Chinese are some of the components/traits and hallmarks perfect as their candidate.
Your posts is very helpful in explaining the situation that is happening, thank you. So I guess first the government needs to figure out which people's account are deposits that are insured and which are "investors" trying to scam the government into bailing them out. After insuring and giving access to those who are innocent, the government media needs to explain the situation, name the scammer, and give jail time/fines to those "investors" and paid provocateurs that caused the scene.