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Strategies & Market Trends : Tech Stock Options
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To: j g cordes who wrote (53304)9/20/1998 1:48:00 PM
From: Merritt  Read Replies (1) of 58727
 
J.G.C.:

You make some valid points about the inter-dependency of world economies, IMHO, but I disagree with your opinion about Congress being myopic in not giving the IMF all they wanted.
Throwing money at countries that haven't demonstrated that they have the political will, or the the legal infrastructure, to effect a free market economy isn't going to solve anything, IMHO.
As long as Indonesia retains its bias towards nepotism...or Russia lacks the legal/political means to clean out the crooked opportunists that have looted the country, then money spent on them will be money that's been wasted, and money that could have been put to more constructive use. Furthermore, we'd be lending the IMF's imprimatur to these corrupt regimes.
I wonder if the present U.S. administration would be so anxious to bail out the Indonesian oligarchy had they not received political contributions from them.

Best regards, Merritt
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