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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (62428)	3/28/2002 1:06:30 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Once Again, Japan's Fix Is Short By KEN BELSON March 28, 2002 nytimes.com TOKYO, March 27 — It is an old ritual here by now. As the fiscal year nears its close on March 31, fears of a financial meltdown reach fever pitch. Alarmed investors head for the exits, raising even more worries that the nation's banks will collapse after losing billions of dollars on their stock and bond holdings. Then, seemingly on cue, the government cobbles together a spending package, extends a deadline or rejiggers a regulation. Relieved that Armageddon has been kept at bay, investors return to the markets, leaving the nail biting for another year. This fiscal year has been no different. After the benchmark Nikkei 225-stock index fell to an 18-year low on Feb. 6, the government announced tougher inspections of the country's debt-laden banks, while dangling the promise of a bank bailout, and clamped down on short-selling. That set off a 22 percent rally in the Nikkei over the next month as fears of cascading bankruptcies subsided. In the