Last December, Korea staved off default by a whisker. As the rest of the world dithered, the US banks came up with a rescue plan. It bought time while two heroes emerged to hammer out a deal: Citibank's debt-crisis veteran Bill Rhodes and Mark Walker, one of the toughest lawyers in the business, acting for Korea. The battle was all about bank relationships and the double-edged sword of market forces. Peter Lee reports.
March 01, 1998