Greenspan and Treasury Secretary Rubin told the House Banking Committee that if a US$100 billion international bailout of debt-swamped Asian economies fails, the US economy will suffer. The duo, trying to convince Congress the bailout is a good thing, said it's crucial to prevent Asia's instability from spreading to other emerging economies. The reason, they said: 40 percent of US exports go to such nations.
Asian Flu Fallout
Greenspan and Treasury Secretary Rubin told the House Banking Committee that if a US$100 billion international bailout of debt-swamped Asian economies fails, the US economy will suffer. The duo, trying to convince Congress the bailout is a good thing, said it's crucial to prevent Asia's instability from spreading to other emerging economies. The reason, they said: 40 percent of US exports go to such nations.
