Treasury Secretary Henry Paulson yesterday said that plans to bailout Americans caught in the housing crisis would do more harm than good.According to AP, Paulson said that “he is not interested in providing government bailouts for investors, lenders and speculators. He said the Bush administration is focused instead on finding solutions to help struggling homeowners stay in their homes.”

“The US government is not too far away from having to act like a destitute parent, who desperately needs milk for the family,” says Erika Nolan.

“If you do nothing else in the next six months, at the very least, open an offshore bank account to gain access to global markets and foreign currencies while securing an additional bit of asset protection. You’ll be able to sleep better at night knowing that you have a path around the Wall Street monopoly.”