Absolutely not.
No.
No.
Those countries have tax bases of their own, let them sort it out.
No way.
Not close to being acceptable.
Harry, I agree the idea of bailing out the foreign institutions is a terrible idea. If we are going to write the checks, let’s prop up our own banks and make them more powerful vis a via the world.
The problem is however that all of our prosperity the last 5-10 years is courtesy of foreign investors financing our national debt. And this new $700b in debt won’t be bought up by investors here. We don’t have the money.
Something tells me in the last 48 hours a number of central banks and foreign governments called up Hank and told him that if the plan only helps US banks, you can forget the world buying anymore treasuries.
I’d still though limit it to US Banks and take my chances for now.