Word: baumohl
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...Bernard Baumohl...
...YORK CITY: Despite a record surge that saw markets in Hong Kong and Indonesia jump by more than 7 percent Wednesday, international money managers remain concerned about stability of economies throughout Southeast Asia, says TIME business reporter Bernard Baumohl. Last month's Thai currency crisis has International Monetary Fund managers sufficiently spooked to put the prospect of a major banking collapse in shaky Southeast Asian markets atop the agenda of this month's IMF meeting. "These countries aren't experienced in financial calamity," says Baumohl. "They really don't know how to protect themselves, and may not even have...
...despite the news, many fear that the region's decade-long expansion is coming to an end. "It certainly looks like people were overly optimistic about the Southeast Asian economies," says Baumohl. "They pegged their currencies close to the U.S. dollar, but they didn't have the same strong conditions there that the U.S. is experiencing." In a surprise effort to stop the slide, Malaysia last week restricted stock trading. But that further scared investors, worsening the fall...
...Bernard Baumohl, Patrick E. Cole and Daniel Eisenberg
...left office, letting him take credit now before the sacrifices begin to bite. Still, the budget may sit well with a public that says it wants Congress to tackle the deficit instead of nit-picking over the details. "Clinton has the upper hand," notes TIME's Bernard Baumohl, "because the Republicans risk making themselves look like obstructionists if they don't cooperate." The centerpiece of the tax cut package is a $500-per-child credit for children younger than 13 in families with an income of up to $75,000. Cost: $46 billion. Another $36.1 billion of Clinton...