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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Lucretius who started this subject	10/25/2002 2:11:44 PM
From: Dr. Jeff	Read Replies (2) of 436258

FED'S MCDONOUGH URGES INVESTOR PATIENCE WITH BRAZIL OVER NEXT FEW WEEKS NEW YORK, Oct 25, 2002 (ODJ Select via COMTEX) -- (Dow Jones)--U.S. investors shouldn't turn their backs on Brazil if, as polls suggest, Luiz Inacio Lula da Silva becomes its next president, said New York Federal Reserve President William McDonough. It would be "silly" for investors to pull capital from Brazil if its people "choose a leader who is committed to social justice," McDonough said. McDonough, a voting member of the Federal Open Market Committee, was speaking at a meeting of the New America Alliance. "People in Brazil are showing confidence" by maintaining their investments and bank deposits, and so should international investors, he said. It would be "stupid" to reduce exposure, he added. "Responsible people in responsible positions should take that position," said (REUTERS)

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