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To: Lucretius who wrote (137986)	12/10/2001 3:15:12 PM
From: patron_anejo_por_favor	Read Replies (2) \| Respond to of 436258

I LOVE this $hit...could we be any more hypocritical? Just as BubbleBoy is about to paper over another WTC-sized mound of bad paper with another Fed funds cut, Bush administration officials are blasting the Japs...for failing to recognize and write off bad loans! ROTFLMAO! nytimes.com December 10, 2001 Japan Urged to Attack Bad Loans By JAMES BROOKE GOTEMBA, Japan, Dec. 9 — Hours after Japan's Parliament gave final approval on Friday to a strengthened bad-loan agency, two visiting Bush administration officials urged Japan to use it for a quick attack on what they called the nation's main economic problem: a growing mountain of debt. "The massive overhang of nonperforming loans in the banking sector needs to be resolved swiftly and efficiently," said Kenneth W. Dam, the deputy Treasury secretary, at a Harvard Law School symposium at this resort town near Mount Fuji. The gathering, closed to reporters, drew 100 Japanese and American financial executives and academics. R. Glenn Hubbard, chairman of the United States Council of Economic Advisers, gave a speech calling for the bad-loan agency to conduct "rapid purchases and equally rapid sales." He added, "There is no reason why purchases and sales should not begin immediately."