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Article: Obama Makes U.S. Taxpayers Bail Out Foreigners
- Article from:
- Human Events
- Article date:
- September 28, 2009
- Author:
CopyrightCopyright Human Events Publishing, Inc. Sep 28, 2009. Provided by ProQuest LLC. (Hide copyright information)
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With endless discussions of "the greatest economic crisis since the Great Depression" one might think that the President and the Congress would focus their attention on the recovery of the American economy. Instead it has become increasing apparent that an inordinate amount of benefits bestowed by the federal government in the past year have in fact flowed to foreign entities, from banks to car companies to entire countries.
Earlier this year various congressional investigations uncovered billions of dollars of the so-called TARP funds ended up bankrolling foreign banks. American banks that actually received the funds from the U.S. government operated as covert pathways to often bail out ...