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Pastimes : Ask Mohan about the Market

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To: Link Lady who wrote (13903)2/7/1998 8:05:00 PM
From: Investor2  Read Replies (1) of 18056
 
RE: "Why should the taxpayer be expected to pay"?

Evidently, you're not the only one asking that question. I did notice that Clinton thinks you should pay.

"Republican Rep. Jim Saxton, chairman of the Joint Economic Committee, introduced a resolution Friday calling on the IMF to sell bonds to raise money rather than rely on the United States and other countries for financial support. 'U.S. taxpayers shouldn't be forced by politicians to foot the bill for struggling Asian nations,' Saxton said. 'I would suggest that the IMF exhaust all private resources before reaching into U.S. taxpayer pockets.'

Many U.S. lawmakers oppose the quota increase and have threatened to withhold Washington's $14.5 billion share of the package. They say the money would only go to support repressive, corrupt or incompetent regimes as well as help to bail out foolish investors and lenders.

The Clinton administration says U.S. leverage abroad would be eroded and the IMF would be weakened if Congress rejected the funding requests."

Best wishes,

I2

P.S., Did you notice that the spell checker doesn't like the president's name?
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