Bailing out Brazil-Or Robert Rubin?
Buchanan, Patrick J., Human Events
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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 …
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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.
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