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Politics : Formerly About Applied Materials
AMAT 317.47-2.9%2:51 PM EST
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To: 16yearcycle who wrote (24780)10/1/1998 1:39:00 PM
From: Jacob Snyder  Read Replies (1) of 70976
 
does this sound smart?

"the International Monetary Fund is considering lending to countries that have defaulted on debts to banks and bondholders."

And Japan wants to set up a IMF-lite, that is, a bail-out fund for East Asia which doesn't force any restructuring on countries in trouble. Two good things about the plan: it won't use my tax dollars, and it only intends to waste 30 billion. Still, it demonstrates that they have learned nothing in the last 8 years. They are not going to increase transparency, or impose market discipline, or let insolvent countries/banks/companies fail. At least, not until a lot more money is wasted.
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