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Politics : PRESIDENT GEORGE W. BUSH
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To: Skywatcher who wrote (285266)8/9/2002 1:21:14 PM
From: DuckTapeSunroof  Read Replies (2) of 769670
 
The $30 B. Brazil bailout - although it may be justified on solely macro-economic grounds - also accomplishes a political goal: it bails out Citigroup's and BONY's investments which might have been defaulted. (Those investments are at least $20 B. ... and Wall Street is a major campaign contributor for the administration.)

The curious thing about the bailout is that it REVERSES the Bush administration's stated policy of doing THE OPPOSITE of what the Clinton administration did in similar circumstances....
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