Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: isopatch who wrote (16826)	8/2/2002 9:44:45 AM
From: isopatch	of 36161

Bad loans ramp even higher in Japan. biz.yahoo.com <Friday August 2, 4:16 am Eastern Time Associated Press Bad loans at Japan's banks balloon to 42 trillion yen TOKYO (AP) -- Bad loans at Japan's banks ballooned to 42 trillion yen ( $353 billion) in March, the government said Friday, underlining an ailing financial sector sinking deeper into debt amid a stubborn slowdown. The Financial Services Agency said that non-performing loans grew from 32.5 trillion ( $273 billion) last March. The government has promised to clean up the bad debts at the banks. Despite efforts by banks to get rid of dubious debts, new loans keep going sour amid rising corporate bankruptcies in the troubled economy. The government has said the downturn has bottomed out, but it expects economic growth to stay flat for the fiscal year ending in March 2003.>

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