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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!
LRCX 143.23-2.9%Nov 18 3:59 PM EST
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To: Robert Douglas who wrote (5005)3/18/1998 10:51:00 PM
From: Mason Barge  Read Replies (1) of 10921
 
You miss my point. The US S&L's made real estate loans. In most cases, the insolvency of an S&L isn't going to affect the value of the real estate. It's just going to affect the safety of the depositors' money, and also will adversely affect future purchases (theoretically, in practice there was no shortage of mortgage money in the US).

In Japan, we are talking about the largest commercial banks in the world. Their potential insolvency affects not only their depositors but also their customers, that is, current creditors. Considering the size of the banks and the enormous dependence of Pac rim businesses on them, the potential for economic harm to the economies as a whole is significant. They are accustomed to a rather easy source of capital. Now, not only is the capital no longer easy, it's downright difficult, since the banks are simultaneously raising credit requirements.

A propos of this thread -- that is, to get to the real point -- there's no money to lend to chip companies (which are themselves suddenly short cash) to buy new equipment. It's an old story -- if you need to borrow money, you can't.
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