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To: Defrocked who wrote (6742)	9/22/1998 5:38:00 PM
From: Joseph G.	of 86076

Couple of points .. <<The speculative community was hurt badly by Russia and Malaysian currency controls. They are not in as strong a position as they were 6 months ago. So the timing is right for a concerted defense.>> Why the heck taxpayers should bail out the "speculative community"? Or, he thinks LatAm problems are caused by that community? Not the case ... <<Russia is a basket case and indefensible given its current situation. Brazil on the other hand has a real and functioning economy.>> Arguments can be made that Brazil did not manage to send first man in space, etc. OTOH, taking LatAm together, the problem is 3 to 5 times larger than Russia - will require correspondingly larger bailout. Recalling Mexico bailout of 3.5 years ago, and that they were made part of NAFTA, etc. - all of which did not really solve the problem, as it turned out - I just may reserve my enthusiasm for the G7 success ...

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