Derivatives: Darth Vader's Revenge Message Board

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Non-Tech : Derivatives: Darth Vader's Revenge

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To: Henry Volquardsen who wrote (1054)	2/7/2002 11:58:31 AM
From: Worswick	Read Replies (1) of 2794

Very many thanks for your very thoughtful and incisive take on the Morgan derivative risk Henry. My sense is that they do have a credit risk - who doesn't here in this economic cycle - but it is heartening that "the street" has not hung out the red sign here on the systemic risk front. Between times on your Reuters Japan flag of somedays ago my correspondets in Japan have thrown up their hands at the current government's policies in regard to the restructuring of Daiei. Why not just let it go into reorganization like K-Mart? Secty. O'Neil on his visit to Japan in January warned the Japanese government that devaluation and the well known protectionist policies of the Japanese would not work and would lead to a weakening of the Japanese economy. You simply wonder how many times they can circle the wagons around the banking sector? My correspondents in Japan point out that the current account amount due Japan remain high... so they do not see an Argentina type scenario. On the other hand I have been hearing this for years and years. Hope you are well. Again, many thanks for your take on Morgan Henry. Clark

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