[Cold Heat]

The fact that only those with subsidiary banks in the U.S. are included, limits this issue to only a few of the majors, like UBS and a few others. If you have not noticed, these internationals have taken huge writedowns on investments, and these investment go both ways. We have banks that have branches in their respective countries. They trade back and forth to give each other leverage and liquidity. if we cut them out of the bill, this cooperation will be forced to cease.

These recurring populist notions are interfering greatly with our ability to compete internationally, and the necessary foreign investment.

The ports debacle, for example, has resulted in the rich financial centers like Dubai to simply sit on the sidelines and grin a bit as we flounder. It's payback for what they see as our hubris and stupidity.

So.......every decision like this has a cost. And we will pay it.

[Liberty1970]

A few days ago there was a report on FR that Chinese banks were being told by their government not to lend any more $$ to US banks. Does anyone have an update on this or how it plays out in the current troubles? Is it a minor blip or a sign of Impending Doom?

[ding_dong_daddy_from_dumas]

IMO the bill’s proponents have done a p*ss poor job of selling it to the US public.

>>The fact that only those with subsidiary banks in the U.S. are included, limits this issue to only a few of the majors, like UBS and a few others.<<

And why can’t UBS etc. transfer bad debts from outside the US, to their US subsidiaries?

>>These recurring populist notions are interfering greatly with our ability to compete internationally, and the necessary foreign investment.<<

These “populist notions” caused the ACORN swindle to be removed from the house bailout bill. The bailout proponents want congressmen to hurry to pass legislation without reading or understanding it. Hell, I don’t like to hurry spending $100, let alone $800B.

One important “populist notion” is that the government keeps asking for bigger bailout amounts, and at a minimum, they have not convinced us that this current bailout will prevent economic disaster, or that they won’t come back shortly and ask for a trillion and a half more. Does it make you feel more assured when a salesman tells you you have to buy something right now?

Another “populist” concern is that we are not sure we trust Paulson to be careful or even ethical when dealing with investors. He may be too close to the people who are responsible.