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$700 Billion Bailout Could Fund Private Foreign Banks

Posted By admin On September 22, 2008 @ 3:56 am In Featured Stories | Comments Disabled

George Washington’s Blog [1]
Monday, Sept 22, 2008

Not only are the fed bailouts giving billions to foreign central banks [2], but the new $700 billion bailout proposal could bail out private foreign banks as well.

Specifically, a Fact Sheet [3] from the U.S. Treasury says:

Participating financial institutions must have significant operations in the U.S., unless the Secretary makes a determination, in consultation with the Chairman of the Federal Reserve, that broader eligibility is necessary to effectively stabilize financial markets.

An article [4] from today in Politico explains

“In a change from the original proposal sent to Capitol Hill, foreign-based banks with big U.S. operations could qualify for the Treasury Department’s mortgage bailout, according to the fine print of an administration statement Saturday night.”



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URL to article: http://www.prisonplanet.com/700-billion-bailout-could-fund-private-foreign-banks.html

URLs in this post:

[1] George Washington’s Blog : http://georgewashington2.blogspot.com/2008/09/700-billion-bailout-would-fund-private.html

[2] foreign central banks: http://georgewashington2.blogspot.com/2008/09/us-taxpayers-are-paying-to-bail-out.html

[3] Fact Sheet: http://www.ustreas.gov/press/releases/hp1150.htm

[4] article: http://www.politico.com/news/stories/0908/13690.html

[5] Congressman Grayson: Fed Secretly “Stuffed” $500 Billion into “Foreign Private Pockets” and Gave $230 Billion to Citi “As a Secret Bailout”: http://www.prisonplanet.com/congressman-grayson-fed-secretly-stuffed-500-billion-into-foreign-private-pockets-and-gave-230-billion-to-citi-as-a-secret-bailout.html

[6] Americans Have Been Bailing Out Foreign Banks for Years … And We’re Getting Ready To Do It Again: http://www.prisonplanet.com/americans-have-been-bailing-out-foreign-banks-for-years-and-were-getting-ready-to-do-it-again.html

[7] Will Americans Pay to Bailout Yet Another Foreign Bank … in Afghanistan?: http://www.prisonplanet.com/will-americans-pay-to-bailout-yet-another-foreign-bank-in-afghanistan.html

[8] The Fed’s Bailout Of Europe Continues With Record $237 Billion Injected Into Foreign Banks In Past Month: http://www.prisonplanet.com/the-feds-bailout-of-europe-continues-with-record-237-billion-injected-into-foreign-banks-in-past-month.html

[9] Exclusive: The Fed’s $600 Billion Stealth Bailout Of Foreign Banks Continues At The Expense Of The Domestic Economy, Or Explaining Where All The QE2 Money Went: http://www.prisonplanet.com/exclusive-the-feds-600-billion-stealth-bailout-of-foreign-banks-continues-at-the-expense-of-the-domestic-economy-or-explaining-where-all-the-qe2-money-went.html

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