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To: OtherChap who wrote (20206)10/5/1998 8:04:00 PM
From: MR. PANAMA (I am a PLAYER)  Respond to of 164684
 
Clinton Calls For Reform Of Financial Architecture
7.12 p.m. ET (2313 GMT) October 5, 1998
WASHINGTON — President Clinton said it was imperative to strengthen the world's financial architecture but offered no new ideas Monday as he began a meeting with world financial officials.

Clinton said that the United States must come up with money to replenish the International Monetary Fund's (IMF) coffers and Japan must move quickly to address its financial challenges as part of the solution to the current global financial crisis.

But he broke no new ground as he spoke to officials from the so-called Group of 22, which includes the Group of Seven leading industrial nations as well as key emerging market countries.

"Every leading industrial economy has a role to play, including the United States by securing full support for IMF funding (and) Japan by moving quickly to address its economic and financial challenges,'' the U.S. president said.

Clinton asked U.S. Treasury Secretary Robert Rubin and Federal Reserve Chairman Alan Greenspan to convene Monday's session of the G22 officials, which took place on the sidelines of the IMF-World Bank annual meetings in Washington.

Despite a weekend of talks among the G7, the meetings have yet to yield any major steps to end the financial crisis that began in Thailand in the summer of 1997 and has since swept through Asia and Russia and now threatens Latin America.

"We must ensure that the international financial architecture is prepared for the new challenges of our time, especially the challenge of building a system that will lessen and manage the risks in the global market to allow countries to reap the benefits of free flowing capital in a way that is safe and sustainable,'' Clinton told the officials.

"This is imperative if we are to maintain global support among ordinary citizens for free markets and ultimately for free governments,'' he added.

Clinton is scheduled to speak to the opening session of the IMF-World Bank meetings Tuesday. The Democratic president has so far failed to persuade the Republican-controlled Congress to approve $18 billion in new money for the IMF.



To: OtherChap who wrote (20206)10/5/1998 9:10:00 PM
From: Glenn D. Rudolph  Respond to of 164684
 
Btw, for those of you using Signal Online, I just got an email and they've got an upgrade
to 4.1 .. I was about to cancel my service because the interface really sucked, but I'll
download this update and see if its any better. They _finally_ added OTC:BB stocks!


I use the new version of Signal Online software but my quotes come from Data Broadcasting. I am very please with the quote system. You and I are using the same software but a different provider. I have had OTC:BB for a long time.

Glenn