US may bail out FOREIGN banks

[240 is Back]

U.S. weighs bailout of foreign banks, too
By Nelson D. Schwartz and Carter Dougherty
Monday, September 22, 2008

PARIS: The financial crisis that began in the United States spread to many corners of the globe. Now, the U.S. bailout looks as if it is going global, too, a move that could raise its cost and intensify scrutiny by Congress and critics.

Foreign banks, which were initially excluded from the plan, lobbied successfully over the weekend to be able to sell the toxic U.S. mortgage debt owned by their American units to the Treasury, getting the same treatment as United States banks.

On Sunday, the Treasury secretary, Henry Paulson Jr., indicated in a series of appearances on morning talk shows that an original proposal introduced on Saturday had been widened. "It's a distinction without a difference whether it's a foreign or a U.S. one," he said in an interview with Fox News.

[Bindare_Dundat]

This is totally fucked up!

[240 is Back]

Yes, yes it is.

our future tax dollars are now paying off foreign banks' debts.

THIS is why the dems are challenging the bailout today.  Turns out Bush tried to slip in a little part about sending tens of billions to his friends overseas

[Hereford]

oh yea.

This, like everything else, is a Bush conspiricy, eh?

[Mark Kerr]

U.S. weighs bailout of foreign banks, too
By Nelson D. Schwartz and Carter Dougherty
Monday, September 22, 2008

PARIS: The financial crisis that began in the United States spread to many corners of the globe. Now, the U.S. bailout looks as if it is going global, too, a move that could raise its cost and intensify scrutiny by Congress and critics.

Foreign banks, which were initially excluded from the plan, lobbied successfully over the weekend to be able to sell the toxic U.S. mortgage debt owned by their American units to the Treasury, getting the same treatment as United States banks.

On Sunday, the Treasury secretary, Henry Paulson Jr., indicated in a series of appearances on morning talk shows that an original proposal introduced on Saturday had been widened. "It's a distinction without a difference whether it's a foreign or a U.S. one," he said in an interview with Fox News.

Unf*ckingreal.

[240 is Back]

oh yea.

This, like everything else, is a Bush conspiricy, eh?

WTF are you talking about 'conspiracy'?

He asked congress for $700 billion, plus 100% control and 0% accountability.

Are you so fvcking loyal to bush that you don't care about where 700 billion is going?

[Mark Kerr]

I wonder what's really going on?

The Government is keeping a lot from the public.

How bad is it going to get over the next 18 months?

[Hereford]

240 is am not loyal to Bush.  He lost me when he betrayed the country to the mexicans with his immigration farce.

I highly doubt he can give away billions upon billions without a lot of help and acceptance from others you dont hear about.

[240 is Back]

240 is am not loyal to Bush.  He lost me when he betrayed the country to the mexicans with his immigration farce.

I highly doubt he can give away billions upon billions without a lot of help and acceptance from others you dont hear about.

The Dems will be demonized on this forum shortly for asking Bush for some details on this $700 billion dollar blank check.  Even McCain said he wants every detail to be posted online for public analysis, to make sure certin firms aren't getting free money with zero accountability.

If the bill passes as is, there is zero accountability, all the control goes to Bush's man paulson, and very little recording even.

[Neurotoxin]

U.S. weighs bailout of foreign banks, too
By Nelson D. Schwartz and Carter Dougherty
Monday, September 22, 2008

PARIS: The financial crisis that began in the United States spread to many corners of the globe. Now, the U.S. bailout looks as if it is going global, too, a move that could raise its cost and intensify scrutiny by Congress and critics.

Foreign banks, which were initially excluded from the plan, lobbied successfully over the weekend to be able to sell the toxic U.S. mortgage debt owned by their American units to the Treasury, getting the same treatment as United States banks.

On Sunday, the Treasury secretary, Henry Paulson Jr., indicated in a series of appearances on morning talk shows that an original proposal introduced on Saturday had been widened. "It's a distinction without a difference whether it's a foreign or a U.S. one," he said in an interview with Fox News.

the reason foreign banks are in on this deal is because Wall Street bundled the garbage mortgage paper, then sold them to foreign banks who unknowingly bought "AAA" Rated securities, when they were really B Rated securities at best.

in other words, WS lied to foreign investors. 


NT

[shootfighter1]

This is a disaster.

Don't just blame Bush for the bailout.  Its the whole system for the last 2 decades.

[Rimbaud]

The Dems will be demonized on this forum shortly for asking Bush for some details on this $700 billion dollar blank check.   Even McCain said he wants every detail to be posted online for public analysis, to make sure certin firms aren't getting free money with zero accountability.

If the bill passes as is, there is zero accountability, all the control goes to Bush's man paulson, and very little recording even.

Cue Coach to come in & remind everyone that Bush is the Messiah & how we're all better off because he's the president.