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Pastimes : THE SLIGHTLY MODERATED BOXING RING -- Ignore unavailable to you. Want to Upgrade?

To: Lazarus_Long who wrote (14057)	6/3/2002 10:57:45 PM
From: Dayuhan	Read Replies (1) \| Respond to of 21057

the theory is that we lent them money, now WE have to pay it back? Not exactly. If by "we" you mean the American taxpayers and by "them" you mean the 3rd world taxpayers, "we" didn't lend "them" money. "Our" bank bureaucrats and unelected security managers lent "our" money to "their" unelected leaders, most of whom seized and maintained power by force, and their buddies. Neither "we" nor "they" gave consent at any stage of the process. In a number of cases, "our" leaders played an active part in imposing "their" dictators. This makes the whole issue of assigning moral hazard a bit complicated. It would be nice if we could get the money back from the people who actually took it, but that's not likely to happen. It would also be easier for "them" to pay, regardless of whether they should or shouldn't, if we would remove the artificial trade barriers that make it so difficult for "them" to export "their" products....