A good news story about how the promise of Free Trade (in this case NAFTA) sometimes doesn’t happen. What we call institutional factors get in the way – a government won’t disrupt oligopolies or oligarchs, currency problems interfere, the other party/country doesn’t play fair, etc.
Excellent but long post by Edward Harrison at Naked Capitalism.
This post describes what’s happening with the “Geithner Plan” for revised bailout of banks/ dealing with toxic assets in the context of an earlier bailout: the Mexican currency crisis in 1994-95. It”s many of the same folks involved: Summers, Geithner, and a populist sentiment in Congress that the powers that be decided to go around.
Good read for both the current crisis and to review the Mexican currency crisis.