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Author: fingfool Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 35367  
Subject: Re: JP Morgan Bonds Date: 10/28/2002 9:36 PM
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Silva has won in Brazil. He has said he won't default, and I don't know if J. Pierpont is as heavy into Brazilian debt as Rockumfella bank, but definitely something to look at. I would assume Silva would still use the threat of default (now that he's won the election) to force debt renegotiation (I know, I would).

He has the given the people of Brazil some very high expectations. Where will he obtain the money to finance the programs to fulfill his promises? The threat of default or defaulting will make this task even more difficult. It seems these cycles of loaning money and governments wasting it continue without anyone becoming wiser.

Silva may have won the battle but the war is far from over.

Regards,
fingfool
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