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Foreign Banks May Be Included In Bailout

First Posted: 09-21-08 09:27 AM   |   Updated: 10-22-08 05:12 AM

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In a change from the original proposal sent to Capitol Hill, foreign-based banks with big U.S. operations could qualify for the Treasury Department's mortgage bailout, according to the fine print of an administration statement Saturday night.

The theory, according to a participant in the negotiations, is that if the goal is to solve a liquidity crisis, it makes no sense to exclude banks that do a lot of lending in the United States.

Read the whole story: Politico

Filed by Nick Sabloff  |  Report Corrections