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Updated: June 11, 2025
Private sector creditors and depositors have little leverage over delinquent debtors or banks. When Russia and trigger happy Russian firms defaulted on their obligations in 1998, even the largest lenders, such as the EBRD, were unable to recover their credits and investments.
In an article of Internet Wire, February, 1998, Merrill Brown, editor-in-chief of on-line MSNBC, wrote: "The Internet news usage behavior pattern is shaping up similar to broadcast television in terms of weekday use, and is used more than cable television, newspapers and magazines during that same period of time.
As a result, in 1998 alone, the EITC helped more than 4.3 million Americans work their way out of poverty and toward the middle class double the number in 1993. Tonight, I propose another major expansion. We should reduce the marriage penalty for the EITC, making sure it rewards marriage just as it rewards work.
All this is put together with low costs, high speed, and many advantages." Kushal answered my questions in his e-mail of September 1, 1998: ML: "How do you see the relationship between the print media and the Internet?" KD: "This is still being worked out, of course. Both forms of media critique one another and proclaim their superiority.
Even if the Internet is a huge information tank, the press will always need journalists, as explained by Jean-Pierre Cloutier, editor of the Chroniques de Cybérie, in an article of WebdoMag of July 1998: "Some people predicted the short-term disappearance of the traditional media and their creators.
In fact, do authors still need publishers? Thanks to the Web, a writer can now post his work, sell it or discuss with his/her readers without any intermediary. He replied to my questions in his e-mail of September 7, 1998: ML: "How do you see the relationship between the print media and the Internet?" So the Internet is a powerful research tool for writers of books, articles, etc.
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