Word: bailouts
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...general population that Uncle Sam wouldn't have done it if there wasn't more in it for him." Worse for Zedillo, whose image of weakness began with the Dec. 20 decision to print more pesos, 74 percent of citizens polled last week said they were opposed to the bailout...
...honor the results of all free and fair elections. According to opposition leaders, the signers agreed privately to hold new balloting in the unruly southern states of Tabasco and Chiapas, where widespread fraud was reported in last year's elections. In Washington the Clinton Administration's proposed $40 billion bailout of the weakened peso met with stiff opposition from Democrats...
...Monetary Fund announced a $7.8 billion loan today to helpMexicoout of its currency crisis, President Clinton's once-popular peso rescue plan was hard aground in Congress. A key Democratic senator, Ernest Hollings of South Carolina, this morning attacked Clinton's $40 billon loan guarantee proposal as a "billionaires' bailout," saying Mexico is unlikely to pay it back. "Let's cut out this nonsense of trying to hoodwink the American people," Hollings told the Senate Foreign Affairs Committee, where Chairman Jesse Helms (R-N.C.) ignored GOP leaders more sympathetic to the plan by giving its opponents a daylong public...
Mexican President Ernesto Zedillo, after just a month in office struggling to retain credibility as his nation's finances appear in disarray, today fired his treasury secretary and adopted an international bailout package which hopes to stabilize the peso. Treasury Secretary Jaime Serra Puche will be replaced by another U.S. trained economist, Guillermo Ortiz Martinez. The new package is designed to limit wage and price hikes and will also include unspecified financing from industrialized nations including the U.S. and Canada. Meanwhile, the value of the peso increased today, a second straight day of improving prospects for the nation's currency...
...called Smith Barney and asked if I could get a bailout deal similar to Mellon's. Because I make my own ill-advised investment decisions without the help of my broker, who no doubt has better ideas, I figured I was a great candidate for reimbursement. At least Smith Barney couldn't be accused of paying me off to cover up my broker's mistakes. And whatever modest sum it might choose to advance me would go a long way toward cementing my future loyalty. But spokesman Bob Connor wasn't buying any of this, and Cohen at Mellon said...