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Author Topic: US taxpayers could be on hook for Europe bailout  (Read 1000 times)

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Offline Freeper

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US taxpayers could be on hook for Europe bailout
« on: September 16, 2011, 08:33:06 PM »
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dkf Donating Member (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list    Fri Sep-16-11 09:28 PM
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US taxpayers could be on hook for Europe bailout
   
Fed policymakers meet next week to decide whether the flagging U.S. economy needs another round of easy-money measures that could include buying more Treasury bonds to push more cash into the financial system.

So far, no one has floated publicly the idea of the U.S underwriting a broader bailout of the European financial system. But Senate Republicans have already voiced concerns over such a move.

"Our concern is that innocent American taxpayers will pay for yet another bailout -- this time to one or several countries whose spending and debt choices led them to financial calamity,” Sen. Orrin Hatch, R-Utah, and seven other Republican senators wrote in a letter to Treasury Secretary Timothy Geithner in June.

The source of the senators' concern is an emergency provision, approved by the Group of 20 industrialized nations in 2009, granting the IMF broad powers to expand its lending authority. That could leave American taxpayers on the hook for any IMF loans that later go bad.

http://bottomline.msnbc.msn.com/_news/2011/09/16/779534...

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x1954310

Aint socialism grand?  :banghead:
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I may not lock my doors while sitting at a red light and a black man is near, but I sure as hell grab on tight to my wallet when any democrats are close by.

Offline thundley4

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Re: US taxpayers could be on hook for Europe bailout
« Reply #1 on: September 16, 2011, 08:58:24 PM »
WTF?  Didn't it come out a few months ago that some of the TARP money went to foreign banks?
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Offline Freeper

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Re: US taxpayers could be on hook for Europe bailout
« Reply #2 on: September 17, 2011, 09:04:14 AM »
Quote from: thundley4 on September 16, 2011, 08:58:24 PM
WTF?  Didn't it come out a few months ago that some of the TARP money went to foreign banks?

I seem to recall that. I'm getting tired of our tax money being used to buy votes for the democratic party.
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I may not lock my doors while sitting at a red light and a black man is near, but I sure as hell grab on tight to my wallet when any democrats are close by.

Offline jukin

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Re: US taxpayers could be on hook for Europe bailout
« Reply #3 on: September 17, 2011, 11:06:41 AM »
From those that are responsible to those that are irresponsible.
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When you are the beneficiary of someone’s kindness and generosity, it produces a sense of gratitude and community.

When you are the beneficiary of a policy that steals from someone and gives it to you in return for your vote, it produces a sense of entitlement and dependency.
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