Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: tradermike_1999 who wrote (13022)	1/9/2002 7:33:51 AM
From: KyrosL	Read Replies (2) of 74559

>>Clinton passed a $50 billion bailout package for Mexico and advertised it as an aid package to help their economy. None of the money went to Mexico. It all went straight to the accounts of Morgan Stanley and Chase Manhattan bank. $50 billion was transferred from the pockets of American taxpayers and placed into the coffers of Wall Street banks.<< Wrong!!! The American taxpayers got every single cent of the Mexican bailout money back with interest. Moreover, the bailout money was instrumental in saving Mexico's economy. As a result Mexico is arguably the most vibrant Latin American economy today and the Mexican peso is one of the few currencies that is actually appreciating versus the US dollar. Kyros

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