Something about Thailand in Clinton's book - The Nation, June 28, 2004
...Clinton wrote that the State
Department, Defence Department and
National Security Council wanted
to extend direct financial aid to
Thailand because it was the oldest
US ally in Southeast Asia.
"So did I, but we let Treasury
make the call. On economics and
in terms of domestic politics it
was the correct decision, but it
sent the wrong message to Thais
and across Asia," Clinton wrote...
Thai officials subsequently expressed
their dissatisfaction with the US
- particularly with Rubin, with
Larry Summers, his deputy, and with
Alan Greenspan, the Federal Reserve
chairman, all of whom maintained
their hawkish stance toward Thailand.
"We received no help from them,
not a single dollar. And they also
backed us into a corner by making
us disclose our international reserves,
which had been completely depleted
by the baht defence," said
a former Bank of Thailand official
in an interview following the baht
crisis. "We were told that
most of the top US people had invested
their money in hedge funds that
attacked the baht. So they had no
incentive to help us."
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