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Keyword: congressoversight

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  • Drudge: NEW WORLD ORDER: BAILOUTS HELPED FOREIGN FIRMS...

    08/12/2010 2:54:39 PM PDT · by American Dream 246 · 25 replies
    APNews - DRUDGE ^ | 8/12/10 | MARCY GORDON
    WASHINGTON (AP) - The $700 billion U.S. bailout program launched in response to the global economic meltdown had a far greater impact overseas than other countries' financial rescue plans did on the U.S., according to a new report from a congressional watchdog. Billions of dollars in U.S. rescue funds wound up in big banks in France, Germany and other nations. That was probably inevitable because of the structure of the Treasury Department's program, the Congressional Oversight Panel says in a new report issued Thursday. The U.S. program aimed to stabilize the financial system by injecting money into as many banks...