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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!
LRCX 150.32+5.4%Nov 24 3:59 PM EST

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To: Gottfried who wrote (5878)6/17/1998 2:52:00 AM
From: Fortinwit  Read Replies (3) of 10921
 
** OT: Japan **

GM: Here's a nice reality disconnect (full text below). This is why I cannot see how things will get better in Japan until there are some pretty hefty changes.

biz.yahoo.com

No Japanese bank close to failure -- MOF quoted

TOKYO, June 17 (Reuters) - No Japanese bank is currently in danger of failing, Finance Minister Hikaru Matsunaga was quoted as saying by Jiji news agency on Wednesday.

''Among large financial institutions, by which I mean banks there is none that is close to failing. At this point in time I believe there is no bank in danger,'' Matsunaga was quoted as telling a Parliamentary committee.

On another note, from JJCramer:
"Until we get a bank shakeout, a massive cut in taxes and some sort of reflation, those of us who own stocks will have to live with the threat of a Japanese induced 500- to 1,000-point decline. Could it be more than that? Yes. But in the end, remember, in 1990 the U.S. banking system was in default and the center still held. Believe me, if Japan collapses, the center will hold here, too, no matter what you read."

For subscribers: thestreet.com

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