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Pastimes : Ask Mohan about the Market

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To: Joseph G. who wrote (9011)	11/22/1997 7:56:00 PM
From: Rational	Read Replies (5) of 18056

Joe: BTW, <<Customer assets at Yamaichi totalled 24 trillion yen ($190 billion) at the end of September>> $24B is just bad loans, not customers' assets. Thanks for correcting. It was a lapse on my part to say that $24B asset liquidation was not a big deal. Now, I can appreciate why the Bank of England and everone else is worried about the global markets. Liquidating $190 B is a big deal, IMO. I do not see any problem in the payments system at all, but stock and bond prices will get affected, IMO. The payment system is designed to handle most calamities, even nuclear war. Do you know of a secret (now open secret) bunker in Culpepper, VA and an emergency rescue mission to take the President, VP, Fed Chairman and some other critical people to the bunker to protect all the financial data maintained in a duplicate computer system, as soon as a nuclear war starts? Sankar

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