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The Big Question: 2+2=4? September 21, 2008

Posted by trouble97018 in Economy, Foreign Policy, News, Politics, Repiglicans.
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Talking Points Memo

09.21.08 — 8:48PM

By Josh Marshall

The New York Times reports this evening that “foreign banks, which were initially excluded from the [Wall Street bailout] plan, lobbied successfully over the weekend to be able to sell the toxic American mortgage debt owned by their American units to the Treasury, getting the same treatment as United States banks.”

The Times further reports that two of the biggest foreign banks in need of such relief are Barclays and UBS. In fact, my understanding is that UBS is more on the line here than any other foreign bank.   Source Article

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