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To: Rational who wrote (8413)	11/17/1997 11:48:00 PM
From: Simon	Respond to of 18056

Major bank defaults in Japan and world goes on a major buying spree!>> Sounds like a good plan to me. Come on Jeramiah, laugh, it's a crazy world. I told you Finance 101 was pretty heavy stuff.

To: Rational who wrote (8413)	11/18/1997 12:27:00 AM
From: Elllk	Read Replies (2) \| Respond to of 18056

Sankar Thanks for the observation on the short squeeze going on with the banks in Japan...I wasn't sure if it was totally the vague government committment that was the main factor which would mean they had learned to move the smoke, mirrors, and paper around so fast that no one could figure out where the sink hole was or would even think it mattered. Larry

To: Rational who wrote (8413)	11/18/1997 11:36:00 AM
From: Sam Citron	Respond to of 18056

Sankar, "Actually, the market went crazy because BOJ extended help to rescue big banks by declaring that the top 20 banks were too big to fail." Could you please provide a citation or a link to support this alleged statement. Was this stated or merely implied? If stated, then by whom and when? If implied, what is your basis for drawing this conclusion? Furthermore, what are the implications even if this is true? "Too big to fail" has been accepted in US for several decades. Why shouldn't it be equally true in Japan? You sound as if you think Japan is on the verge of collapse. Is this what you actually believe? What precedent in the history of finance might there be, if any, for such an event? Thanks, SC