"Dear Col.
Here is an idea for discussion on SST.
Questions:
If the bailout is approved, what is to keep the bailout money in the US?
Will the bailout result in a massive transfer of investment money out of the U.S?
What is to keep the international markets from importing junk into the US, cashing it for above market prices at the Treasury, and then exporting huge sums of money received to foreign countries?
Given the broad latitude for choice of assets purchased under the bailout, is there any real certitude that the money disbursed would help US institutions. The bill contains no provision limiting the mortgages and other bad assets to instruments secured by US realty.
Won't most of the money go overseas and do very little here? Isn't it logical that once the traders start trading the securities destined for the bailout, that it is internationalized and can not be directed to help US institutions? Just some thoughts from WP. I enjoy your blog. WP"
