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View Diary: MexiKos 9/22/06: Forbes Invites CEO's to Re-Design Mexico, Privatize Oil, Bust Labor (13 comments)

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  •  The importance of Pemex in the 95 Bailout (3+ / 0-)
    Recommended by:
    el cid, mariachi mama, epppie

    Very few people know how critical PEMEX was to the US-ochestrated bailout of Mexico in 95.

    President Clinton and Robert Rubin were able to arrange the US$ 50B bailout (despite the fact that only 24% of Americans supported it) because of PEMEX.

    Revenue from Pemex's exports were funnelled through trust accounts in the US, to guarantee payments on the US$ 50B bailout arranged by the US.

    Had Pemex been in private hands, not even President Clinton and Rubin would have been able to save Mexico.

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