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To: LLCF who wrote (75335)3/5/2001 12:12:49 AM
From: Joan Osland Graffius  Read Replies (2) | Respond to of 436258
 
LLCF,

The loans at the Japan banks that are non-performing must have been massive at the top of this bubble. Of course the equities that these institutions hold have also lost value during the last 11 years. But if you give someone an unlimited borrowing power at near zero rates and then buy US bonds, one would think you could work off any amount of debt. <g>

Joan