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The Mexican Crisis under President Salinas.
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What happened was, Salinas was a Harvard-educated economist;
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he came in to modernize Mexico
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and he wanted to privatize things,
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so he privatized a lot of the banks.
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Then the banks went on a lending spree in Mexico
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and bank loans rose from 10% of GDP
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--of Mexican GDP --in 1988 to 40% by 1994;
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that's a huge increase in bank loans in Mexico.
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What was happening?
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It was again --something was amiss
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--that you had the government deregulating and not watching.