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Pastimes : Ask Mohan about the Market

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To: Snowshoe who wrote (8358)	11/17/1997 8:33:00 PM
From: Zeev Hed	Read Replies (1) of 18056

Greg, the last news item on the subject did not say anything about the pension getting their money into the banks (as they did not have enough of that wall paper). It is a newly formed government agency funded from tax money (like our resolution trust was). Except, that the resolution trust actually closed banks and S&L by the hundred and then gave these assets (essentially for free) to well placed people, and in the japanese case, they are not writing down these assets, at least, not yet, they are just shoring upp their balance sheets to keep above the magic 8%. Zeev

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