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Mexico Needed An Ounce Of Prevention


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MEXICO NEEDED AN OUNCE OF PREVENTION

"Lessons from the peso scare" (Editorials, Feb. 13) misses the point: Mexico's growing imbalance was allowed to continue for a very long time without comment by responsible international organizations.

What's necessary is not a system for bailing out countries following collapse from inappropriate economic policies but a system for timely identification of imbalances so that changes can be made and market forces can impose their own discipline.

Howard G. Schaefer

Schaefer Brothers Ltd.

Pasadena, Calif.


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