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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 229.34+0.1%12:14 PM EST
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To: Glenn D. Rudolph who wrote (20065)10/5/1998 12:48:00 PM
From: JBL  Read Replies (1) of 164684
 
OT : Rubin calls for global action against corruption.

This is significant. IMF money in Russia and Indonesia was wasted, mostly because of corruption.

You can be sure that the Republicans in Congress will use Rubin's own words to deny the IMF any additional funding until the process is reviewed and cleaned up.

This corruption issue also ties in with how risk will be reappraised by banks, and how they are going to be much more careful with their money from now on, affecting growth in the process.

Cohen at Goldman Sachs does not live in the real world. She states that the market is undervalued. That would imply that we live in a world where the risks have not changed, a world without major corruption in emerging markets, without phony books in Japanese banks, and without exposure to excessive financial leverage.

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