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To: Broken_Clock who wrote (7132)	2/2/1998 5:00:00 PM
From: PaulM	Read Replies (1) \| Respond to of 116764

Dlucas - it could be that the situation in Indonesia detriorated so much that THEY now have leverage over the IMF and foreign banks. The debt freeze proposal was probably wake up call. A debt freeze would mean write offs, at least for interest payments missed during the freeze. (An accountant could confirm?) So perhaps the Indonesians rightly expect the debt rollover plans they're now talking about. This way, the foreign banks and financial institutions take no write offs, knowing they'll be bailed out in the future if need be. And major indust govts don't have to do any politcally unpopular bailouts until it's absolutely necessary (and hopefully on the next candidates watch). P.S. U.S. investors are a bit more rational. <G>. The companies that people are paying for in Indonesia are basically worthless without a bailout (i.e. liabilities exceed assets and are unable to make current payments).