Global Banking Takeover Bailouts

NEW WORLD ORDER: BAILOUTS HELPED FOREIGN FIRMS...


http://apnews.myway.com/article/20100812/D9HHSM180.html

Although the law creating the U.S. rescue program called for Treasury to coordinate its actions with similar efforts by foreign governments, "the global response to the financial crisis unfolded on an ... informal, country-by-country basis," the new report says. "Each individual government made its own decisions based on its evaluation of what was best for its own banking sector and for its own domestic economy."

The U.S. program wound up injecting capital into around 700 banks, while all other governments combined aided fewer than 50, according to the oversight panel.