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To: Rambi who wrote (6879)	9/23/1998 5:26:00 PM
From: yard_man	Read Replies (2) of 86076

penni, >>"ex-under-assistant- under- the -assistant to the secretary of finance"<< Must be tight with the chairman, huh? <g> Seriously, he said practically nothing, except: Things are getting worse all over. The contagion has spread rather quickly because of the new technically based financial exchanges, and new financial/risk instruments. He has a few vague ideas about how to make things better -- 1) more transparency and 2) more bank supervision in these other countries. This is exactly what he said before. When it comes to the financial meltdowns abroad what can the fed do, really?

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