The risks were considerable, but I had confidence in Mexico's new president, Ernesto Zedillo. Besides, we simply couldn't let Mexico fall without trying to help. In addition to the economic problems it would cause both for us and for the Mexicans, we would be sending a terrible signal of selfishness and shortsightedness throughout Latin America.
Congressional leaders pledged their support, including Republican senator Bob Bennett of Utah, a highly intelligent, old-fashioned conservative who quickly grasped the consequences of inaction and would stick with us throughout the crisis.
Congress would not pass the bill so we ended up providing the money to Mexico out of the Exchange Stabilization Fund
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The above quotations are from My Life, by Bill Clinton.
Click here for other excerpts from My Life, by Bill Clinton. Click here for other excerpts by Robert Bennett. Click here for a profile of Robert Bennett.
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