Polonius's Revenge

October 1982
National Review;10/15/1982, Vol. 34 Issue 20, p1260
The article focuses on prodigal lending practices by the U.S. With crunch in Mexico and Poland, and debts on other Third World and Communist countries, many U.S. banks have or anticipate problems. In this context the article cites various factors that led the initiation of prodigal lending practices by the U.S. It is cited as a learning experience for the country but there is also an assumption that, while U.S. citizens who make small or medium-sized economic lapses must pay the consequences, those who commit big mistakes will be bailed out.


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