Msg#: 3762656 posted 1:13 pm on Nov 15, 2008 (gmt 0)
OnlyToday, You make a good point. The banks and companies in Asia could not be bailed out because IMF forced them to sell the NPL by way of auction otherwise they would not get the money from the IMF pot.
Most of the western companies that bid for the NPL assets was Lehman Brothers, AIG and Goldman Sachs and some other US banks and they made a fortune BUT NOW THE TIDE HAS CHANGED.
I do hope that America and Europe will recover but it will take time.