Let's bail out the whole world. Sure, we can do that.

[PLC1]

Foreign Banks Hope Bailout Will Be Global

PARIS — The financial crisis that began in the United States spread to many corners of the globe. Now, the American bailout looks as if it is going global, too, a move that could raise its cost and intensify scrutiny by Congress and critics.

While Mr. Paulson has agreed with that argument, the Bush administration is also leaning on foreign governments to pitch in with bailout programs of their own as needed. “We have a global financial system and we are talking very aggressively with other countries around the world, and encouraging them to do similar things, and I believe a number of them will,” Mr. Paulson said on Sunday.

Foreign government should have their own bailout plans, and not rely on rich old Uncle Sammy. What a concept.

Christopher Whalen, a managing partner at Institutional Risk Analytics, said that Mr. Paulson needed to justify why a wider bailout was in the national interest.

“Can you imagine the Congress floating a bailout for Deutsche Bank or UBS? It is the responsibility of the German or Swiss government,” he said. “We shouldn’t be bailing them out.”

Just imagine.

Just imagine the American empire following the Romans, the British, and the Soviets. It was basically economics that made those three admittedly disparate entities dissolve, wasn't it?

 

[pocketfullofshells]

where is my bailout? I want to get rid of my debt? Bush Please pay for it ...thank you
signed someone who is not rich enough to get a bail out

Me