Yes, but S. 3930 gives him a "get out of jail" free card.  He doesn't need Paraguay...  And even if US law doesn't impact international law, we all know that a former US President won't be hauled up before an international tribunal unless our own country gave him up.  So, with the legislation he cowardly signed this past week, granting him immunity from prosecution, it's highly doubtful that any possible purchase of property in Paraguay has anything to do with war crimes.  Frankly, I doubt the story - what in the hell would Bush want with property in Paragruay? 

For anyone not sure of what I mean by "get out of jail" free card, check out Sec. 8 of the bill he signed this week, S. 3930.   Very clever, and timely - I mean, who knows whether a Democratically controlled House could have ever passed such a bill after the election...