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Non-Tech : Shorting the Big Banks (e.g. JPM, BT, CMB, CCI)
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To: BDR who wrote (122)9/23/1998 1:54:00 AM
From: BDR  Read Replies (1) of 268
 
Mixed messages:

ratings.com

Standard & Poor's Says Plan May Eventually Benefit
Japan Finance Sector
Tokyo - Standard & Poor's CreditWire 9/22/98 - Standard
& Poor's today announced it believes the agreement
purportedly arrived at on Sept. 18 between leaders of
Japan's Liberal Democratic Party (LDP) and the main
opposition party may represent a step in the direction of
ultimately restoring the health of the Japanese financial
system. The announced agreement is vague in its details,
and already parties are haggling over its interpretation.
Still, the thrust seems to be toward establishing a
framework that will allow the closing of insolvent banks
and require strong measures from banks before they apply
for government aid. If sustained, such a tougher attitude
would increase near-term uncertainties, particularly for
marginally creditworthy banks, but in the end could lead to
a healthier competitive environment for the surviving
banks.

dailynews.yahoo.com

Dollar Mixed As Investors Trade Yen For Marks
The dollar fell against the mark Tuesday amid waning expectations of a drop in German interest rates, but it rose against the yen amid investor concern about Japan's lack of progress on economic reform.
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