Yesterday, I said some kind words about George W. Bush's proposal to stabilize the banking industry (ergo, the economy) by infusing it with approximately $700 billion.
Now here comes the shit:
Bush's secretary of treasury stated today that the same money should be used to bail out foreign banks that do a large portion of their business in the United States.
How about NO?!
American taxpayers are making a large investment to bail out American companies for being stupid. Sure, these banks may do business in the United States, but it is not our concern to prop them up. Let their own government prop them up. I don't recall any other governments offering to help with our economic crisis by offering to infuse billions of dollars into American banks, which do business in their countries, also.
Leave it to the Bush administration to turn a good idea into a bad one.
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