Gore defends Mexican guarantees

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The Independent Online
WASHINGTON (AP) - Vice-President Al Gore went to Congress yesterday to defend the Administration's proposed loan guarantees for Mexico against growing criticism that US taxpayers are being asked to support a bailout for wealthy investors.

Mr Gore, with the Treasury Secretary Robert Rubin, White House Chief of Staff Leon Panetta and Federal Reserve Chairman Alan Greenspan, faced extensive questioning from Democratic members of the House about the $40bn rescue package. "We are attempting torestore confidence in the future of Mexico's economy," Mr Gore said after the meeting.