Or maybe this oldie but goodie…
That reaction follows Thursday's report from the Congressional Oversight Panel report that, when the United States injected hundreds of billions of TARP money to stabilize the U.S. financial system in September 2008, it also bailed out more than 40 major institutions based overseas that had invested in collateralized debt obligations and mortgage-backed securities.
"There were no data about where this money was going," Elizabeth Warren, head of the panel investigating the bank bailout, explained in a conference call with reporters on Wednesday. "The American people have a right to know where the money went."
The TARP money flowed to overseas banks largely because of their investment in AIG, which received about $182 billion in federal bailout funds. Roughly half of the 87 banks and investment firms who would have lost billions without the AIG bailout were headquartered overseas, the Oversight Panel reports.
The major foreign beneficiaries included the French bank Societe Generale ($11.9 billion in AIG money), the French bank BNP Paribas ($4.9 billion in AIG funds), and Germany's Deutsche Bank ($11.8 billion), according to The Associated Press. Banks in Canada, Switzerland, and Britain cashed in on the AIG rescue as well.
https://www.newsmax.com/t/newsmax/article/367346?section=Newsfront&keywords=tarp-bailout-global-overseas-obama-economy-recession&year=2010&month=08&date=12&id=367346&oref=duckduckgo.com