OTHER NEWS - Feb. 10, 1995
Treasury, Fed Back Clinton Decision on Mexico: The dire financial emergency in Mexico left President Clinton no choice but to bypass Congress and offer that nation a $20-billion U.S. rescue package, Administration and Federal Reserve Board officials said. “The President made a judgment that was courageous,” Treasury Secretary Robert E. Rubin told the House Banking Committee. Fed Chairman Alan Greenspan, who has been a high-profile supporter of the Administration’s efforts, concurred that Mexico’s situation was dire. But a number of other committee members raised objections.
More to Read
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.