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To: PaulM who wrote (7548)	2/13/1998 2:32:00 AM
From: Abner Hosmer	Respond to of 116998

A good example of the financial intermediaries that Krugman talked about. And it also appears that Korean investment banks were involved in indemnifying J.P. Morgan against the risks of putting hot money into the region.

To: PaulM who wrote (7548)	2/13/1998 2:34:00 AM
From: Abner Hosmer	Read Replies (1) \| Respond to of 116998

Rubin sees big impact if Asia crisis spreads: biz.yahoo.com IMF funding needed for U.S. farm exports--Glickman: biz.yahoo.com

To: PaulM who wrote (7548)	2/13/1998 5:38:00 AM
From: Hugh M.	Respond to of 116998

Paul, Tom, Ole 49R, or anyone, a clarification please. I have been trying to distill all the information and opinions here regarding the actions of the IMF. The IMF lends capital funds, to countries where the economy has taken a violent downturn, under the condition of astringent economic policies. The IMF's cash injections and economic reforms help stabilize the economy, at a cost to the indigenous people, but also prevent a flow of very inexpensive imports to the American economy. This saves American jobs, company earnings and margins, and prevents massive deflationary pressure. Am I close? Should these loans default, who eats the loss, the American taxpayer? In effect, is the American economy and its people, via the IMF, stimulating foreign economies, to keep the steam up in the American economy and the Dow? It seems a bit self serving, is this part of the "Plunge Patrol" policy I have read numerous times on this thread? What effect will it have on the American economy if indeed there are defaults, will the American people swallow it like they did the S and L crisis a few years back? Whew, thanks! Love this thread, the plethora of opinions and articles make this a great read. Regards Hugh