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To: Defrocked who wrote (1294)	3/12/1998 12:52:00 PM
From: IceShark	Read Replies (1) of 86076

Fuji made an announcement on March 5 about losses higher than expected, how much depended on whether they would adopt new accounting treatment of marking to market stock equity holdings with current value which is less than original acquisition cost. See: newsalert.com I think without adopting a mark to market they expect to lose a tad over US $4 billion for FYE 3-31-98. Yikes! S&P has been downgrading Fuji backed debt left, right and center, so the closing of Boston probably started the rumor. But the Fuji Boston office is a gnat on the elephant's ass. Japanese banks have never been very transparent: I wonder what would happen to them if they marked all equity holdings to market? I think there are a bunch of international capital requirements which cause big headaches if the banks can't meet 'em. And what about all the letters of credit supporting business deals? This could be messy. Regards, DWW

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