In the face of overwhelming public opposition and a challenge from Congressional freshmen, President Clinton was forced to initialte a back-door $20 billion bailout of Mexico.
President Roosevelt told Congress today it would undermine the national defense and return control of money to Wall Street and international bankers if it refused to continue his power to devalue the dollar.
The Treasury's actions are backed by the Exchange Stabilization Fund which gives the President and the Treasury secretary enormous latitude to act without prior consent of Congress
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