The Clinton administration Thursday accused the House of undercutting its own leaders in voting to block a multibilliondollar bailout for Mexico. It vowed to work to preserve the loan package.
“We had bipartisan support for this package from the congressional leadership,” said White House spokesman Mike McCurry. He called the vote an “effort to second guess and Monday morning quarterback that decision.”
In a surprising slap at Clinton and Congress’ bipartisan leaders, the House voted 245-183 Wednesday to halt U.S. support for the peso beginning effective Oct., the start of the new fiscal year.
McCurry said the rationale for the vote has no factual basis.
Of the $20 billion Clinton put into the exchange stabilization fund in January with support from leaders of both parties, $12.5 billion has been dispensed so far.
sponsored Jargon is confusing, by definition. And the financial world has its own set of cryptic words.