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Strategies & Market Trends : Asia Forum

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To: Henry Volquardsen who wrote (6681)	9/24/1998 7:19:00 PM
From: Jay Scott	Read Replies (2) of 9980

Henry, heard a report that says LTC stays in business but the terms were adjusted. Banks own 85% of profits above 5.5% floor return. Ltc gets 15% of those profits. I guess this is the "punishment" for them. They get to keep less of what they would have made, but no mention about orderly liquidation. Some have said that the Japanese have been reluctant to go after their banks because they know similar skeletons exist in their closets. By pulling the lid off of their exposure to similar lending and derivatives, they would be forced to face a problem that could potentially destabilize the world financial markets even more. Imagine that. JS

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