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Technology Stocks : Alliance Semiconductor

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Jul 10 5:00 PM EST

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To: Norrin Radd who wrote (2718)	3/6/1998 10:12:00 PM
From: DJBEINO	Read Replies (2) of 9582

Here is better news that everybody will like: House bill aims to block IMF aid to chip makers By Jack Robertson WASHINGTON -- U.S. chip makers this week got some legislative help in their campaign to keep any part of the International Monetary Fund bailout from helping rescue foreign competitors--such as Korean semiconductor suppliers. The House Banking Committee included a specific clause in a bill for $18 billion in additional IMF funding to keep money from bailing out foreign semiconductor companies. Under the legislation, the U.S. Treasury and Commerce Departments would be required to file a joint biannual report on foreign country compliance with reforms mandated as part of any IMF loans. The bill now goes to the House Appropriations Committee, and ultimately to the Senate, which last year shuttled any additional IMF funding. techweb.cmp.com

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