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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting

QCOM 177.78

-2.2%

Jan 9 9:30 AM EST

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To: Jon Koplik who wrote (25355)	8/8/2002 8:37:45 PM
From: Art Bechhoefer	Read Replies (1) of 197155

The IMF agreement stabilizes Brazil's economy, but I don't believe it makes much difference for Vesper. Maybe it makes the import of handsets a little easier. What it really does is to bail out some of the bigger U.S. banks with large loans in Brazil--Citibank, Fleet, JP Morgan. Note that a little over 10 years ago, it was the same sort of problem in Latin America, again with Citibank in real trouble holding bad loans. At that time the U.S. stepped in and if nothing else, saved Citibank and its then Chairman John Reed. Not that I'm against the bailout. It's just that the motive is probably not all that altruistic. If we forget our history, we're bound to repeat it. Art

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