On the recordJanuary 21, 1998
----and the principal if they hang in there. But they need to hang in there. They don't need to just take the money and run. On the other hand, if you start saying, well, everybody is going to get half back of what they put in, that will actually speed the rate at which people take money out and reduce the rate at which people put money in; you don't rebuild confidence, and therefore the collapse is more costly. That's what bothers me. I mean, nobody likes the idea--I don't think any American likes the idea that every single banker in one of these countries that made every bad loan will get paid back. And that, in fact, won't happen. But when you try to pay back most things to stabilize the situation, the reason you're doing it is not to give the people who made the loans their money back; the reason you're doing it is to send a signal to the world that business is back up and going, that you have to be more careful now, but you can trust this country now and you can invest. So I think--I'm convinced we're doing the right thing for our own economy. I'm convinced we're doing the right thing for our values and our principles. And I hope I can persuade the Congress that we are. Situation in Iraq Mr. Lehrer. All right. Another subject, Iraq--bad news today. Apparently, Mr. Butler left. What can you tell us about where that thing stands, in terms of whether the inspectors are going to be allowed to do what they want to do, et cetera?
Source
govinfo.gov




