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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Bonnie Bear who wrote (8619)	11/20/1997 2:37:00 AM
From: Jack Clarke	Respond to of 18056

Yes, Bonnie: RE: your post on Korea, the last sentence is interesting: ''We are talking about a crisis in confidence, both in respect of international lenders and domestic corporates. Input from the IMF is needed to give credibility to the initiative.'' The crisis of confidence in Korea (down 2.8% tonight) is exactly the opposite of what we have here. All markets, banks, etc are solvent only so long as there is confidence in the system. What will happen (finally) to break the overconfidence here? Also, are the resources of the IMF truly unlimited? Jack