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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: MythMan who wrote (15977)	1/18/1999 1:13:00 PM
From: accountclosed	Respond to of 86076

Why Brazil Matters More Than Thailand...When Asia collapsed, the banks' exposure was $25 billion. When Russia fell, U.S. banks had about $5 billion at risk. This time, it's $39 billion." ...But when all is said and done, with some $64 billion at risk, international banks are positioned to take a body blow. Apparently Standard & Poor's thinks so too. Last Thursday, it reduced its credit rating outlook for Citigroup, J.P. Morgan and five other banks....The greatest threat is that Brazil will tip all of Latin America into a recession. ''This is why Brazil is a much bigger deal than Thailand," says David Orr, chief capital markets economist at First Union Corp. ''If the region slides into a serious recession, it could have a $40 billion impact on the U.S." Unfortunately, Orr thinks there's a ''50-50 chance" that this could happen. bloomberg.com