[JohnHuang2]

Thursday, August 15, 2002

Quote of the Day by Jhoffa

[meenie]

The reality of the situation is that major banks are on the hook and have to be made whole through this bailout. The downside is that the US weakens its own currency and financial future. By bailing out the delinquent banks, the IMF encourages more risky loans being floated by these banks because of the precedent being set.