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To: 200ma who wrote (77671)	3/9/2001 2:52:04 AM
From: IceShark	Read Replies (2) \| Respond to of 436258

This is the first time, quarter ended 3-31-01, that organizations in Japan have to mark-to-market investment securities. If you don't know what that is, they have to value their share holdings at the trading price at close on 3-31. Due to large share holdings/cross holdings many will take quite a hit, 12,000 is thought to be the disaster number. That sort of hit will put organizations like financials in violation of net capital measures and others in violations of all sorts of financial measures. Take life insurance ratings - you want to buy your life policy to take care of your wife and kids from someone that is underwater? It may just about put their financial system under. As if they don't have enough problems. So that is the big deal and why the Japanese government will be stepping in and propping up their market as can be seen by the last two days' action and in statements from govt officials. It is a bad deal and they are going to lose, the numbskulls.