US Rescue of Argentina Is 'Unconventional,' Summers Says

Overall, U.S. banks seem to be in pretty good shape. The same, it looks like, cannot be said if President M. J.of Argentina and his peso, as we see now, Secretary of Treasury bessant first create a swap arrangement of $20 billion and then actually intervene in the currency markets. Last week you actually were there during the Mexican peso crisis back in 1994. What can you tell us about when that makes sense and when it does not.I'm somebody who's a strong believer that the United States has to support globa ...