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Strategies & Market Trends : Waiting for the big Kahuna
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To: Jodi Segal-Lankry who wrote (10571)11/29/1997 12:09:00 AM
From: Staff  Read Replies (1) of 94695
 
Unless something changes drastically...I'd give them the 1st of the year at best.
There is one way out. Just as the securities firm that went under found willing buyer here in the US there is a chance that you can keep a bad Japan bank afloat long enough to sell it and avoid it from going bankrupt..

Say if Citicorp has a great year. They buy a bank that has huge problem. they use the losses the bank incurred to offset the profits the obtained and in the end buy the bank literally for free with tax saving realized from assuming the bad paper.

Problem is... the banks are to big. As i stated earlier... if one or 2 of the 10 majors in Japan go down... they are to big for any one entity to assume.

If you think for a minute this is some far-fetched fairy tale that has no chance of happening. You better ask Moodys why they are downgrading so many of the security and bank concerns in Japan over the last 2 weeks.
The weakest sector in the Nikkei right now is the banking and securities sectors. This is no joke and its no isolated one bad apple in the barrel of everything else is just peach fine. . It is happening and it is serious no matter how they try to sugar coat it...

Even Clinton was told to change his tune from " a glitch" earlier in the week to calling it a "a major concern" after the latest summit.
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