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Strategies & Market Trends : Asia Forum
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To: Zeev Hed who wrote (4943)6/30/1998 1:18:00 AM
From: Michael Sphar  Read Replies (1) of 9980
 
Speaking of Japan still, I was marvelling at the plan outlined in an article from TheStreet.com, in it describing some of the process of bailing out and cleaning up ala the S&L event in the US. The comparisons were stunning and I kind of got stuck on this.

The S&L bailout was a miserly $160 million affair when compared to the MOF number of 77 trillion yen. At 142/$1 that's about $550 billion or $4500 for every man woman and child that lives in Japan. Thats an awful lot of money. This is more than 3400 times the size of the S&L debacle! Isn't that like totally paying off the US debt (on a per capita basis)? This is hard to conceive! How did things get this far out of whack ? Didn't somebody say something along the way ? Guess I'm in denial too, though in a different perspective.
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