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00:00Do you know what a swap line is?
00:02It's a currency swap, yes.
00:03Yes, but what is that?
00:05You're the Treasury Secretary.
00:06Yes, but why would you call it a bailout?
00:08That is how...
00:09In most bailouts, you don't make money.
00:11The U.S. government made money.
00:13We used our financial balance sheet to stabilize the government.
00:19One of our great allies in Latin America, during an election,
00:23the president there won in a landslide.
00:26The government's going to make money.
00:28And I would rather use peace through economic strength
00:34than have to be shooting at narco boats coming offshore if the government collapse.
00:39We have a generational opportunity in Latin America to create allies.
00:45We just saw an election in Bolivia.
00:47We're probably going to see an election in Colombia.
00:49We've seen them in Ecuador.
00:50We're going to see them in Chile.
00:53So, by stabilizing the economy there and making a profit,
01:01then that's a very good deal for the American people.
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