How Jack Ma fell to earth and took Ant's mega IPO with him

They say talk is cheap. Tell that to Jack Ma.

Corporate China’s shiniest star was just days away from seeing his Ant Group list on the stock market in a record $37 billion deal, when he chose to launch a blistering public attack on the country’s financial watchdogs and banks.

The regulatory system was stifling innovation and must be reformed to fuel growth, billionaire Ma told a summit in Shanghai on Oct 24 attended by the great and the good of China’s financial, regulatory and political establishment.

Chinese banks, he said, operated with a “pawnshop” mentality.

It was this speech that set off a chain of events ...