Zilver
09-21-2008, 12:23 PM
if you have been wondering whether foreign bank losses are included
in the bailout plan........
....now you know
we are sooo Ffff'd
http://www.reuters.com/article/ousiv/idUSN2148303920080921
WASHINGTON (Reuters) - U.S. Treasury Secretary Henry Paulson said on Sunday that foreign banks will be able to unload bad financial assets under a $700 billion U.S. proposal aimed at restoring order during a devastating financial crisis.
"Yes, and they should. Because ... if a financial institution has business operations in the United States, hires people in the United States, if they are clogged with illiquid assets, they have the same impact on the American people as any other institution," Paulson said on ABC television's "This Week with George Stephanopolous."
Paulson was appearing on the Sunday television talk show circuit to fill in some of the details of the U.S. government plan for a sweeping bailout to mop up hundreds of billions of dollars in toxic mortgage debt.
The moves capped a week in which financial markets faced their most serious confluence of crises since the Great Depression in the 1930s and threatened national economies and the worldwide banking system. (Reporting by Mark Felsenthal)
in the bailout plan........
....now you know
we are sooo Ffff'd
http://www.reuters.com/article/ousiv/idUSN2148303920080921
WASHINGTON (Reuters) - U.S. Treasury Secretary Henry Paulson said on Sunday that foreign banks will be able to unload bad financial assets under a $700 billion U.S. proposal aimed at restoring order during a devastating financial crisis.
"Yes, and they should. Because ... if a financial institution has business operations in the United States, hires people in the United States, if they are clogged with illiquid assets, they have the same impact on the American people as any other institution," Paulson said on ABC television's "This Week with George Stephanopolous."
Paulson was appearing on the Sunday television talk show circuit to fill in some of the details of the U.S. government plan for a sweeping bailout to mop up hundreds of billions of dollars in toxic mortgage debt.
The moves capped a week in which financial markets faced their most serious confluence of crises since the Great Depression in the 1930s and threatened national economies and the worldwide banking system. (Reporting by Mark Felsenthal)