Estimados foreros (racionales):

Ayer os llamé la antención acerca de las informaciones de la prensa alemana a propósito de las presiones que los USAowned hacen para que los demás países asuman su "modelo" de rescate(la típica táctica de extender el marrón) y casi me lapidan los prepotentes pepero's trolls que pululan por aqui...

Pues bien, hoy vuelve a la carga con esto nada menos que el The New York Times en su edición online, en un artículo con el titular "los Bancos extranjeros confían en que el rescate se convierta en global.", os traduzco lo más jugoso, ahmijos:

"La administración Bush esta tratando de inclinar a los Gobiernos extranjeros a que se sumen mediante programas de rescate propios si es preciso. "Tenemos un sistema financiero global y estamos conversando muy agresivamente con otros países de todo el mundo, animándolos a hacer cosas similares, y creo que un cierto número de ellos están dispuestos·", afirmó Paulson este domingo."

El que tenga oidos para oir, que oiga... dijo El Señor...

AQUI EL ARTICULO DE MARRAS ÍNTEGRO:

Foreign Banks Hope Bailout Will Be Global
By NELSON D. SCHWARTZ and CARTER DOUGHERTY
Published: September 21, 2008
PARIS — The financial crisis that began in the United States spread to many corners of the globe. Now, the American bailout looks as if it is going global, too, a move that could raise its cost and intensify scrutiny by Congress and critics.
The world is watching Treasury Secretary Henry Paulson Jr., fourth from left. With him at the G-7 meeting in Washington last April were, from left, James Flaherty, the finance minister of Canada; Christine Lagarde of France; Peer Steinbrueck of Germany; Tommaso Padoa-Schioppa of Italy; Fukushiro Nukaga of Japan; Alistair Darling of Britain; and Jean-Claude Juncker of Eurogroup.
Foreign banks, which were initially excluded from the 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.

On Sunday, the Treasury secretary, Henry M. Paulson Jr., indicated in a series of appearances on morning talk shows that an original proposal introduced on Saturday had been widened. “It’s a distinction without a difference whether it’s a foreign or a U.S. one,” he said in an interview with Fox News.

The prospect of being locked out of the bailout set off alarm bells among chief executives of overseas banks whose American affiliates also hold distressed mortgage-related assets, like Barclays and UBS. The original text provided access to the $700 billion bailout for any financial institution based in the United States.

As the day wore on, some raised their concerns with the Treasury Department, arguing that foreign institutions were both big employers and major players in the American capital markets. By Saturday evening, the language had been changed to allow any financial institution “having significant operations” in the United States.

While Mr. Paulson has agreed with that argument, the Bush administration is also leaning on foreign governments to pitch in with bailout programs of their own as needed. “We have a global financial system and we are talking very aggressively with other countries around the world, and encouraging them to do similar things, and I believe a number of them will,” Mr. Paulson said on Sunday.

The request is expected to be discussed during a conference call among Group of 7 finance ministries scheduled for Sunday evening, a European official said.

Allowing foreign banks to participate in the federal rescue package has not yet drawn widespread scrutiny in Congress, where a number of lawmakers, including Senator Christopher J. Dodd, Democrat of Connecticut, have acknowledged that millions of American citizens do business with UBS, the Royal Bank of Scotland, and many other foreign-based banks in the United States.

But a number of lawmakers are wary that such an extension may worsen what could ultimately turn out to be a trillion-dollar bailout for Wall Street.

“I’m skeptical of the bailout, the whole bill is only a couple of pages long,” said Representative Scott Garrett, Republican of New Jersey, who is a member of the House Financial Services Committee. As for the participation of foreign banks, Mr. Garrett said: “I have a concern with it, they probably should be treated differently, but Congress is really not getting any say.”

Christopher Whalen, a managing partner at Institutional Risk Analytics, said that Mr. Paulson needed to justify why a wider bailout was in the national interest.

“Can you imagine the Congress floating a bailout for Deutsche Bank or UBS? It is the responsibility of the German or Swiss government,” he said. “We shouldn’t be bailing them out.”

While politicians in the United States may emphasize the benefits for banks based overseas, the definition of what is a European or American bank has blurred in recent years with the growth of global giants like HSBC, Barclays and Deutsche Bank.

Deutsche Bank, for example, became a major player in the United States with its acquisition of Bankers Trust in 2001. It has written down more than $11 billion in investments linked to the subprime crisis.

Barclays, meanwhile, is on course to buy a significant portion of the North American operations of Lehman Brothers, the 158-year-old firm that filed for bankruptcy protection last week, helping to set off the global financial panic that forced Washington to act.

Gaining access to the relief was a top priority for European foreign financial institutions with banking operations in the United States, according to officials in industry and government.

They argued that the reputation of Wall Street and the United States government would suffer immensely if properly licensed foreign banks in the United States were shut out of the system.

“Who would open a bank again in the United States?” asked one executive of a major European bank who has been following the discussions.

At the same time, it was unclear how much European governments would bow to the Treasury Department’s encouragement to set up national programs to deal with their own vast mortgage problems. Real estate markets in Britain, Spain and Ireland have been particularly hard-hit as their own housing market bubbles — which grew in tandem with America’s — have collapsed.

Other governments have struggled to get budget deficits under control in the last few years. The German government, for example, has discouraged talk of a stimulus package, and British officials said Sunday that they were not working on a plan like that of the United States.

Anda si al final se va a implantar un socialismo global para los ricos ..

Eso parece, eso parece...

Lo de agresivamente no me gusta nada. Lo mejor es decirles que si y luego darles largas, con su pan se lo coman.

Allons enfants de la Patrie,
Le jour de gloire est arrivé!
Contre nous de la tyrannie,
L'étendard sanglant est levé

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A eso le llamo yo empezar los lunes con energía, ¡sí señor! Saludos, amigo forero !

Eso parece.

Y el Socialismo es SIEMPRE malo, aunque sea "para los ricos".

Cuando un ballenero tiene atada a una ballena que se va al fondo del mar pueden pasar dos cosas: Que termine por conseguir que la ballena no se vaya al fondo o que la ballena termine por arrastrar al ballenero al fondo.

Puede perfectamente pasar eso con los Estados Unidos: Que el páis se vaya al fondo (quiebre) por atarse a ballenas muertas como ciertos bancos o General Motors o Chrysler.

Porque...¿quién tienen ahora cara de negarle dólares públicos a una enferma terminal como General Motors?.

Con "rescates" como el de este fin de semana está claro que los USA pueden terminar perfectamente como la URSS: Descomponiéndose por quiebra.

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Yo lo que me pregunto es... ¿el dinero público es infinito? si aquí en España se hiciese un rescate similar... ¿quedaría para subsidios de paro, pensiones etc?

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En cierto sentido SÍ lo es. Es "fiat money", por lo que pueden imprimir todo el que autorice el Banco Central Europeo (a costa de devaluar el que ya está en circulación, por supuesto).


Dinero para pensiones no va a haber hagan lo que hagan. Ese compromiso de pagar pensiones se basaba en una demografía potente de muchos hijos por pareja, que se terminó en España en 1975.

Los treintañeros que creen que van a cobrar pensión del Estado Español me recuerdan a los Testigos de Jehová esperando la venida de "El Reino de Jehová" cualquier año de estos.

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La verdad es que creo que no es lo mismo.
No se trata de inyectar dinero a fondo perdido, sino sacar al mercado del bloqueo total en el que se ha metido y que podría llevarlo al colapso.

Hay una serie de activos que, hoy por hoy, se han vuelto iliquidables. Es decir: El mercado les asigna valor 0 dejando a los bancos en ausencia de liquidez.
Sin embargo las hipotecas, por muy malas que sean, no valen 0. Primero porque no todas se van a dejar de pagar y segundo porque el subyacente siempre podrá ser vendido por un valor superior a 0 y mas si se hace de forma ordenada y sin prisas.
Habrá que ver como se articulan las compras de hipotecas por el estado. No creo que se hagan por su valor nominal, sino con importantes descuentos.
Supongo que el estado hará una valoración de los que van a pagar realmente y cual será el valor de los inmuebles postburbuja.
En resumidas cuentas: Los bancos van a seguir teniendo grandes pérdidas, pero no se verán abocados a un descalabro total.

Es injusto, y muchos merecen quebrar por los excesos cometidos, pero aunque habrá un coste para el contribuyente, serán contribuyentes que conservarán su trabajo y no indigentes en medio de una gran depresión.

Yo lo llamo "coger el toro por los cuernos". Al fin y al cabo el liberalismo total jamás ha existido ni existirá porque es inviable. Regulación e intervención tenemos a raudales. Tan solo es una cuestión de grado.
No creo que exista un solo liberal con dos dedos de frente que no desee un marco regulatorio serio y estable sometido a constante evolución y debate. Sin reglas no hay juego.
Yo llevo años demandando mayor regulación hipotecaria para frenar la burbuja y, Según el foro, ahora me entero de que soy comunista. :-))