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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Paul V. who wrote (18699)	4/9/1998 2:17:00 PM
From: akidron	Respond to of 70976

that kind of flys in the face of what has actually happened.... bailouts occur when the system isn't functioning and extra capital is required on an emergency basis... as for the idea that the world is one pot of money... I disagree very strongly... the distribution of rescorces in the world is for the most part governed by self-interest and therefore risk capital is often not available where it is most needed... rubin's skill has been to coax the self-interested parties to the view that their long term health is dependent of their subsidizing consumption and rationalization in various trouble spots... but the problem with this approach is that is tends to support inefficiences and overproduction (Dram is perhaps the greatest example but the car industry and power industry's are pretty good too) and might well make the eventual prognosis worse.