Semi-Equips - Buy when BLOOD is running in the streets! Message Board

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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!

LRCX 148.32

-3.3%

Nov 14 9:30 AM EST

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To: Jess Beltz who wrote (6067)	6/28/1998 8:52:00 PM
From: Ramsey Su	Read Replies (1) of 10921

Jess, just found the numbers on Nikkei net pertaining to the Sumitomo/LTCB "merger". Sumitomo supposedly has 15.64 Trillion yen in assets with 1.134 trillion in bad loans 7.27%. LTCB has 26.19 trillion yen in assets with 1.379 trillion in bad loans 5.26%. Fishy item #1. Based on these figures, Sumitomo is in worse shape than LTCB. Fishy item #2. The combined bad debt is only 2.530 trillion yen, less than US$18 billion. Let us assume the entire portfolio of bad debts are uncollectables, this is simply a VERY SMALL problem for two of the biggest banks in Japan. Fishy item #3. If LTCB is one of the worst banks, then the others should be healthier so their proportional amount of bad debts should be smaller. In the aggregate, I wonder how one can come up with this $500 - $600 billion figure that the world has been using as bad debt estimates. Something is not adding up. Ramsey

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