Shorting the Big Banks (e.g. JPM, BT, CMB, CCI) Message Board

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Non-Tech : Shorting the Big Banks (e.g. JPM, BT, CMB, CCI)

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To: BDR who wrote (104)	9/14/1998 8:16:00 PM
From: BDR	Read Replies (1) of 268

Clinton To Deal With World Economy By MARTIN CRUTSINGER AP Economics Writer newsday.com WASHINGTON (AP) -- President Clinton, struggling to regain his footing from the Monica Lewinsky affair, pledged Monday to work with America's allies to deal with the ''biggest financial challenge facing the world in a half-century.'' The president said that with one-fourth of the globe currently in recession, ''the balance of risks has now shifted'' from inflation, the economic bugaboo of the past three decades, to the need to contain a spreading economic crisis coming out of Asia. ''The industrial world's chief priority today plainly is to spur growth,'' Clinton said in an economic address to the Council on Foreign Relations in New York. In an unusual move to coordinate a policy message, finance ministers and central bank presidents of the world's seven richest countries released a joint statement within an hour of the conclusion of Clinton's speech endorsing his major themes. The Group of Seven statement specifically said that ''the balance of risks in the world economy had shifted'' and the major countries would need to work together to deal with a financial crisis that began a year ago in Thailand and has now spread to Russia and is threatening to engulf South America. A whole list of links regarding the turmoil in Indonesia: headlines.yahoo.com Brazil Seen Pressed To Churn Out More Fiscal Steps dailynews.yahoo.com While news of the IMF shield sent local stock prices soaring 13.4 percent Friday, more than $1 billion was still estimated to have fled Brazil, after currency markets lost an average $1.5 billion per day so far in September. G-7 May Meet on Russia's Crisis newsday.com Iran Warns of Regional Crisis newsday.com

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