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Strategies & Market Trends : Asia Forum
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To: Rational who wrote (1852)2/1/1998 9:08:00 PM
From: Zeev Hed  Read Replies (1) of 9980
 
Sankar, I see nothing wrong with lenders (and borrowers) doing whatever they can to extricate themselves from the situation they are in, that simply does not make them more or less crooked than the government officials sitting on the other side of the table. If you lent money with stong "encouragenmment" from the government that your money will be repaid, you would do the same. You forget that these "semi guarrantees" were given to avoid having to actually let those foreigners participate in the equity side of these chaebols. If Korea would have let greater percentage ownership of foreigners in equity of their companies, they would not have to use such excessive leverage and have on the average better balance sheets in corporate Korea, so it is not surprising that now, they are paying for past sins. We all do.

Zeev
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