Too Big to Succeed | Guest Blog, Scientific American Blog Network:
"On December 20, 1994 Mexico’s newly installed president Ernesto Zedillo devalued the currency, the peso, by 15%. As a candidate he had said he would “defend the peso like a dog.” That day the peso went from 3.47, where it had been for a year, to 3.95 and the trading floors of Wall Street were filled with the sounds of barking dogs."
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