Friday, October 10, 2008

Show him the money

From US Treasury Secretary Hank Paulson's Friday evening news dump (though no less predictable for that) that the government is going to buy equity in banks --

Such a program would be designed to encourage the raising of new private capital to complement public capital.

One huge unanswered question. Where will the private capital come from? In particular, is the US ready for major foreign presence in its banking sector?

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