As predicted by Paddy Chayefsy in Network (1976): (video)
Treasury Secretary Henry Paulson confirmed [...] that coverage of foreign-based banks is "a distinction without a difference to the American people."[...]"That's a distinction without a difference to the American people. The key here is protecting the system. ... 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. But, remember, this is about protecting the American people and protecting the taxpayers. and the American people don't care who owns the financial institution. If the financial institution in this country has problems, it'll have the same impact whether it's the U.S. or foreign."
Link goes to full interview article; image links to movie transcript.