Paulson: Foreign banks can use U.S. rescue plan
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Putting Power In The Hands of Hank Paulson: Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency..
"Permit me to issue and control the money of a nation, and I care not who makes its laws. --Amschel Mayer Rothschild
Paulson: Foreign banks can use U.S. rescue plan
By Mark FelsenthalSun Sep 21, 10:53 AM ET
Treasury Secretary Henry Paulson said 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 provide details about the U.S. government plan for a sweeping bailout to mop up hundreds of billions of dollars in toxic mortgage debt.
--MORE--
Putting Power In The Hands of Hank Paulson: Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency..
"Permit me to issue and control the money of a nation, and I care not who makes its laws. --Amschel Mayer Rothschild
Paulson: Foreign banks can use U.S. rescue plan
By Mark FelsenthalSun Sep 21, 10:53 AM ET
Treasury Secretary Henry Paulson said 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 provide details about the U.S. government plan for a sweeping bailout to mop up hundreds of billions of dollars in toxic mortgage debt.
--MORE--