Dear Sally,
 
I have been ignoring them as it seems the messages go through. 
 
FROM: Adminstrator                                                            
TO: [EMAIL PROTECTED]                                            DATE: 02-23-98 
                                                               TIME: 13:30    
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Worldtalk 400 Gateway IPM.Microsoft Mail.Note
From: [EMAIL PROTECTED]
To:   [EMAIL PROTECTED]
Subject: RE: FW Some hard questions about Basic I
Date: 1998-02-23 13:30
Priority: 3
Attachments: AT011248
             1.txt

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Message-Id: <Mon Feb 23 12:00:07 1998*/>

Please consider this quote from a forward posting to FW in January as an adju
nct to my answer to Brad McCormicks message about Greek politics.  To me, it
is a classical example of the "elites" solution to their mistakes and they ha
ve the power to socialize losses in the private sector onto the backs of citi
zens in the public sector.  It is no wonder citizens of all levels feel disen
franchised by decisions made by "elites" for their best interests in which ot
hers pay the cost.  Would a Basic Income allow citizens to politize enough to
stop these abuses?


"In the end, the IMF is pushing these countries to socialize the
losses, where the losses to be taken are really the losses of 30
corporations," Mr. Friedberg said in an interview yesterday.
"Suddenly, now the whole country is going to be shouldering those
losses. Aside from a few things that the IMF did that are good --
things like opening up markets, supporting deregulation and
transparency -- the rest of what they're doing is incorrect. They're
pushing the countries into a tremendous contraction. In Korea, the
government was not running a big deficit. It was the private sector
that had all the debt. Now the IMF is coming in and saying the
government is going to have to guarantee the debt of the private
companies in order to obtain more financing. In effect, the taxpayers
of Korea will be paying now for losses on bad investments made by
Citibank and Chase. The intelligent thing to have done would be to
say to the banks: 'You lent the money to these Korean private
companies. If they can't pay, they can't pay. They declare
bankruptcy, you lose money.' "







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