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To: DaveMG who wrote (15104)	9/17/1998 12:31:00 PM
From: dougjn	Read Replies (1) \| Respond to of 152472

No central banker will ever say: we are on the verge of a financial collapse not only in the remainder of developing economies still standing, but also cascading to our shores. The possibilities of a severe recession are very real. Greenspan, Rubin and Summers, esp. Greenspan, actually, came remarkably close to saying that yesterday. Why? Because that's how important he views getting House approval for the full IMF funding. Where liquidity is needed is at the periphery, not the center. That is what the $18 bill from the US is all about (to be magnified by the matching contributions of the rest of the G7). So after this all but desperate plea to the House (the Senate already having voted, overwhelmingly, for the package), what is the result? Early indications are that those august Republican ideological bozos on the Banking committee may grudge a whopping $3 bill. I thought everybody, on both sides of the isle, were agreed that Greenspan was our brilliant, and steady economic wizard. Why on earth are they not listening to him at this crucial time. When the cost is so little and the stakes are so large??? Because THEY know just the ticket to pull us away from the edge???? Now THAT should restore confidence in Brazil, et. al. Doug