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To: Jim Willie CB who wrote (113599)	2/18/2002 6:25:34 PM
From: Dennis O'Bell	Respond to of 152472

Moody's considering double downgrade that would put Japan below Botswana Well, first they're considering it, it hasn't happened yet, second Botswana is the highest rated country in Africa. Admittedly, this may not be saying a lot globally, but I think the spin on the wording of this warning is clear.

To: Jim Willie CB who wrote (113599)	2/18/2002 8:16:09 PM
From: Rick	Respond to of 152472

"On March 31, the Japanese government guarantee of bank deposits goes away." For deposits over $75,000 only. The Economist, Feb 18th, 2002 The non-performing country = "Depositors are anyway nervous, because of another change due on April 1st. After putting it off last year, the government will begin rolling back the blanket deposit insurance that it introduced in 1998. The first stage will affect only time deposits, and will limit insurance to ¥10m ($75,200) per depositor at each bank. Many depositors have already moved their money, spreading it around in ¥10m instalments and transferring much of the rest into other types of deposits, which will remain insured for another year. The risk remains that the partial repeal will cause bank runs. Some Japanese have been buying gold for safety." economist.com - Fred