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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Sam Citron who wrote (89576)	2/17/2001 6:03:00 PM
From: Freedom Fighter	Respond to of 132070

Sam, >>Are you saying our $12.5B loan to Mexico in 1995 was an overreaction?<< In general, I think: 1. If you make dumb loans you should eat the losses. 2. If you run a sound monetary system you will never get the types of excesses that threaten the global financial system. 3. There is nothing wrong with a downturn in the economy or Wall St. business assuming the market is correcting the "only minor" excesses that would result from a sound monetary system. 4. Bailouts and easy money encourage larger excesses by changing behavior and propping up bad credits thus not allowing the free market to do its job. 5. Wall St is running the show and doing a great job of rape and pillage. (alright maybe that's a little hostile) :-) Wayne