Evergrand - What Is It?

Evergrand is china's second largest propesy to developer. It owns or controls around 13 hundred projects in more than 280 cities. There has been warnings for a number of years that evergrand was basically taking away too much debt though the company was hugely over leverage. And as this debt crisis has kind of reached its peak this month, and it has become clear that finally they really do not have this money to pay people with do not have the money to pay creditors,. you have a bunch of people who realize that they are not goig to get their money, and are understandably upset, understandably scared.