SEC. 112. COORDINATION WITH FOREIGN AUTHORITIES AND CENTRAL BANKS [View All]

[Subdivisions]

The Secretary shall coordinate, as appropriate, with
foreign financial authorities and central banks to work to
ward the establishment of similar programs by such au8
thorities and central banks. To the extent that such foreign
financial authorities or banks hold troubled assets as
a result of extending financing to financial institutions
that have failed or defaulted on such financing, such troubled
assets qualify for purchase under section 101.

Karl Denninger over at http://www.tickerforum.org/cgi-ticker/akcs-www?post=64444">TickerForum.org

Paulson and Bush threatened to veto the legislation if there was an explicit prohibition of transfers from foreign banks to an American subsidiary.

THE ASSETS DO NOT EVEN HAVE TO BE AMERICAN MORTGAGE ASSETS - THEY CAN BE A FUCKING OFFICE TOWER IN SHANGHAI!

YOU ARE GOING TO GET FUCKING FLEECED FOR HUNDREDS OF BILLIONS OF DOLLARS IF THIS BILL PASSES - THAT MONEY IS GOING TO GO IMMEDIATELY OUT OF THE COUNTRY!

http://www.youtube.com/watch?v=Hi9vXKWYaZ8

http://afp.google.com/article/ALeqM5ijNM_cMwGE1tTgw7S77ClXislztw">US has responsibility to world to fix economy: Brown

The United States has a responsibility to the world and not just itself to sort out its teetering economy, Prime Minister Gordon Brown said Tuesday.

But Brown, disappointed that US lawmakers have rejected a 700-billion-dollar Wall Street bailout plan, said it was not yet time to apportion blame for the global crisis.

"What people want to know is, on top of these problems, can we get under control ... these problems in the financial system," Brown told Sky News and BBC television.

"They started in America, they've got to be sorted out. I believe that the Americans have come to realise that they have a responsibility to the rest of the world as well as to themselves.

"In Britain, we will do whatever is necessary; however it is necessary to sort out the problems in the system."

He added: "There will be a time for sorting out the blame and clearly what happened in America has got to be analysed for it's effect on Britain but this is the time to roll up our sleeves and sort out the system."

Because I'm nearly clueless about how all this financial/economic stuff works, I've remained neutral with a slight lean toward opposition of this bailout. But I can now say this:

IF A SINGLE DOLLAR IS TO GO TO FOREIGN INTERESTS, THEN NO DEAL! FUCK THAT!