He is locked in constant battle with his Cabinet Secretary, Sir Humphrey Appleby, who is trying to trick him into accepting a dodgy loan from a foreign nation.
Business China argues that foreign capital is a kind of bridge loan that has allowed China to grow rapidly while it tries to fix the mess in its financial system.
Agriculture Department and banking officials said they could not recall a previous instance in which a major guaranteed agricultural-export loan had been claimed entirely by foreign banks.
Hong Kong, for example, has introduced home loan curbs and higher stamp duties for foreign buyers.
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President Bush is close to agreeing import quotas and tariffs on foreign steel, it says, and the emergency loan could have been secured with the right effort.
The government is also due to send a delegation to Moscow this week to negotiate the terms of a loan that it hopes with bolster its depleted foreign exchange reserves.
The apocalyptic tax consequence of being a passive investor in small business loans stops virtually all foreign investors from participating directly in the U.S. small business loan market while driving their investment dollars into the corporate bond market.
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An announcement from the U.S. Federal Reserve that provided details about its loan actions during the financial crisis between 2008 and 2010 to financial companies and foreign central banks was big news on the Street Wednesday, representing a course of greater transparency by the central bank.
In other news, the nearly nationalized American International Group announced plans to sell off a number of business units to pay off its massive and costly government loan, though it is retaining its U.S. property and casualty and foreign general insurance businesses.
Its loan book is now twice as big as the World Bank's, and it funds foreign buying sprees by Brazilian firms.
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The IRS says that foreign investors who directly purchase passive interests in U.S. business loans, at the time the loan is made, are doing business in the U.S. and should be taxed on their earnings and profits as if they are a U.S. resident.
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