Suntech (STP -31%) won't be bailed out by a Chinese government that wants to make good on its...

|About: Suntech Power Holdings Co.,... (STP)|By:, SA News Editor

Suntech (STP -31%) won't be bailed out by a Chinese government that wants to make good on its promise to let individual firms sink or swim, claim two advisers to national agencies. The NYT reported yesterday the Wuxi municipal government had reached a deal with Suntech. Maxim Group thinks a default could arrive tomorrow, and that most of fraud-wracked GSF Capital's 141MW project pipeline can't be sold; many on the Street seem to believe them.