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GAAP.RUNewsUS finance ministry helped foreign banks at taxpayers’ expense

US finance ministry helped foreign banks at taxpayers’ expense

Publication date: 13 August 2010

America’s general tactics of financial assistance to troubled companies in 2007-2009 helped many foreign banks instead of their own governments – informed CNBC, referring to results of the research by a special commission of the Congress.

The Congressional Oversight Panel criticized the Troubled Assets Relief Programme (TARP) which was developed by the finance ministry: they say that the ministry helped foreign banks at taxpayers’ expense.