Bailing out Brazil-Or Robert Rubin?
Buchanan, Patrick J., Human Events
Taxpayers Forced to Save Citigroup Investments
What has happened to Paul O'Neill? Our tough-love treasury secretary seems to have undergone a road-to-Damascus conversion to the Clintonite policy of bailing out bankrupt Third World regimes.
Last month, O'Neill scoffed at the idea of bailing out Latin America. The money, he said, would probably wind up in Swiss banks. But last week, Uruguay got $1.5 billion to stop a run on its banks. Then came a $30-billion dollar IMF bailout of Brazil. Now, the World Bank and Inter-American Development Bank are offering Brazil another $7 billion.
This $37 billion comes on top of $15 billion the IF sent Brazil last year and a …
The rest of this article is only available to active members of Questia
Sign up now for a free, 1-day trial and receive full access to:
- Questia's entire collection
- Automatic bibliography creation
- More helpful research tools like notes, citations, and highlights
- Ad-free environment
Already a member? Log in now.
Questia, a part of Gale, Cengage Learning. www.questia.com
Publication information:
Article title: Bailing out Brazil-Or Robert Rubin?.
Contributors: Buchanan, Patrick J. - Author.
Magazine title: Human Events.
Volume: 58.
Issue: 31
Publication date: August 19, 2002.
Page number: 12.
© Human Events Publishing, Inc. Feb 16, 2009.
Provided by ProQuest LLC. All Rights Reserved.
This material is protected by copyright and, with the exception of fair use, may not be further copied, distributed or transmitted in any form or by any means.
One moment ...
- Georgia
- Arial
- Times New Roman
- Verdana
- Courier/monospaced
Reset