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To: Mohan Marette who wrote (72395)	10/15/1998 11:50:00 PM
From: jim kelley	Read Replies (1) \| Respond to of 176387

Mohan, I share Camdessus' opinion. However, my opinion was based on the demonstrated will of these nations to address the financial and economic imbalance at the root of the problems in Asia. The hedge funds were simply trying to exploit the the imbalance in interest rates and loan liquidity and they also attack many countries currencies using money highly leveraged from the capital bases. I do not think these countries are going to tolerate this behavior any more. It is not that hard of a problem to deal with once you know what is happening. Yes! This is bad news for the bears. They were counting on a continuation in the economic turmoil. NB: The IMF money was approved today. The budget will be voted on tomorrow. The governments of the world no longer look hamstrung. The Clinton presidency is returning to normal while Starr is now being investigated. Looks like an up day tomorrow!