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Foreign banks included in bailout.

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posted on Sep, 21 2008 @ 10:09 AM
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Foreign banks may get help

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.

The theory, according to a participant in the negotiations, is that if the goal is to solve a liquidity crisis, it makes no sense to exclude banks that do a lot of lending in the United States.

Treasury Secretary Henry Paulson confirmed the change on ABC's "This Week," telling George Stephanopoulos that coverage of foreign-based banks is "a distinction without a difference to the American people."



See also: Paulson: Foreign banks can use U.S. rescue plan

Apparently, national sovereignty is also a distinction without meaning.


What a mess...


[edit on 21-9-2008 by loam]




posted on Sep, 21 2008 @ 10:28 AM
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I was afraid this would happen,

This will make sure all currencies will go down.



posted on Sep, 21 2008 @ 10:52 AM
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Originally posted by Grey Magic
I was afraid this would happen,

This will make sure all currencies will go down.


From the aspect of the US government, there is no point in letting the dollar take the full brunt of this disaster.. even if it was the US that caused it.
Even with the bailout carrying banks from other countries, it wont really affect other currencies that much in comparison but will take the edge off.
All depends on how many banks and from which countries. I hope there aren't too many in the Eurozone.



posted on Sep, 21 2008 @ 11:03 AM
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the European central bank has the same "private" owners as the FED.

There are already smaller European banks losing hundreds of millions because of investments into US banks.

Lehman bros NY pulled back 5 Bil from London before they went down.

We are all going down the drain...



posted on Sep, 21 2008 @ 12:39 PM
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Originally posted by Grey Magic
We are all going down the drain...


Indeed we are.

But I can't help but wonder how long before American taxpayers truly realize how had they've been.


[edit on 21-9-2008 by loam]



posted on Sep, 21 2008 @ 12:58 PM
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Originally posted by loam
But I can't help but wonder how long before American taxpayers truly realize how had they've been.



3 years and 3 months left until Decemeber 2012


gl2

posted on Sep, 21 2008 @ 01:16 PM
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The Federal Reserve Bank is some 90 % foreign-owned, so no surprise. Here's one: Why do we let the most disliked, screw-up president in modern history re-design US finance DURING HIS LAST 6 WEEKS IN OFFICE??!!

He shouldn't be allowed to do anything significant while he waits in a corner for an adult to come to the rescue. Worse yet, rather than create a new currency--say the "eco," a currency based on sustainable resources and completely controlled by an independent, qualified government panel of experts--a government owned/controlled currency to replace the dollar and the Fed, Bush is lumping 30 trillion dollars worth of YOUR mortgages directly into the Fed!!!

Why do we let a failed imp who betrays us betray us yet further? Do you see the danger in it? Once again, it makes US pay for Fed-Bush mafia cronies' mistakes. To quote another, "when banks fail, the money doesn't disappear; it ends up in fewer hands." That's exactly what the Bush plan is: write a blank check for Goldman, Rockefeller, and Rothschild while a few token co's (Lehman, Bear Stearns) go down with a pirate's ship.

Bush is propping up a failed paradigm--by that I don't mean freedom to choose as you prefer, but the Fed Reserve crony mafia. Let's face it: this is a chance for us to plan a better system, to push it all in a better direction. Don't simply re-assign your mortgage to narco-dealing, child sex slave trading sociopaths! Don't be a debt slave to pirates!

Bush's cronies want this to happen so that we're all in the hole with the Fed, the NWO and it's mousy little minions. They are cowards--they really know how to keep their mouths shut about the worst crimes in your entire lifetime. Rather than bow your head and say YES MASTER! fight back!!!

Make some noise! Provoke others to help think up a better alternative.



posted on Sep, 21 2008 @ 01:58 PM
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Originally posted by gl2
Here's one: Why do we let the most disliked, screw-up president in modern history re-design US finance DURING HIS LAST 6 WEEKS IN OFFICE??!!


I think it demonstrates quite nicely how irrelevant to whole 'balance of powers' thing is.




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