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U.S. bailouts benefited foreign firms, report says

U.S. bailouts benefited foreign firms, report says 12 Aug 2010 The federal government's effort to stabilize the financial system turn over the US Treasury to Bush's corporaterrorist cronies in 2008 by flooding money into as many banks as possible resulted in a boon to many foreign firms and left the United States shouldering far more risk than governments that took a narrower approach, according to a new report by a panel overseeing the Treasury's $700 billion bailout fund. Members of the Congressional Oversight Panel, in a report due Thursday, note that America's broad financial rescues had more impact internationally than the narrower bailout programs of other countries had on U.S. firms.