September 1982
National Review;9/17/1982, Vol. 34 Issue 18, p1173
This article discusses the responsibility of the U.S. administration in bailing out the Mexican economy which is on the verge of bankruptcy. It is projected that by the end of 1982, the Mexican economy will find itself facing a massive $75-billion debt. Meanwhile it is rumored that some American banks have as much as 90 per cent of their capital out to Mexico in loans, and that the banking community is frozen in fear of a Mexican default. It is suggested that the U.S. administration set into motion a legislation that would lift the guarantees of the federal deposit insurance from banks that lend irresponsibly abroad, including to foreign governments.


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