Novell (NOVL) dirt cheap, good buy? Message Board

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Technology Stocks : Novell (NOVL) dirt cheap, good buy?

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To: Don Earl who wrote (19295)	12/30/1997 4:20:00 PM
From: Paul Fiondella	Read Replies (1) of 42771

Asia and the Market Okay here is what has happened. The BANKS (all the US ones) were told in no uncertain terms by Rubin that they had better roll over the Korean loans or face a default in which they get nice red ink to show on their balance sheets. Rubin told them there was too much Korean debt for anyone to bail out (as in Mexico). More details of what Rubin promised from the US Treasury and our pockets to follow later (as in later Bub). That was then followed up with an immediate $$$ transfer to Korea to help them over the big hurdle of the massive loans due the end of this month. Then the PR on the whole desparate exercise was that the banks were going to divide Korean debt up into categories of worthiness (the new buzz word about to replace ubiquitous) and stretch out the debt timetable (convert short term to long term). As far as Wall Street is concerned--- End of crisis. A few details left out. Will the Japanese banks roll over bad debt? Will some bank demand payment leaving those that roll-over looking like sorry ducks? Who will step forward to float the really big restructuring loan that Korea (like Mexico) will need and who will guarantee that debt???? Bottom Line --- You can always line up the ducks for a moment or two but then they go quacking off in different directions. I sincerely doubt that the banks are going to stick with the program. In particular I'm skeptical that they will LEND MORE without guarantees. ========================= Eagerly awaiting the sequel. Korea II. And watch Japan.

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