Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Stock Swap -- Ignore unavailable to you. Want to Upgrade?

To: Robert F. Newton who wrote (9767)	11/24/1997 12:11:00 PM
From: V.	Read Replies (1) \| Respond to of 17305

Bob, This started Friday, of course, but here's the deal on Yamaichi Securities in Japan...we're seeing the fall out today. xoxo, V. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ** YAMAICHI SECURITIES CO., Japan's oldest big brokerage, called it quits today after two scandals and years of losses. With $3.2 billion in revenue last year, Japan's fourth-largest brokerage is the biggest business to fail in Japan since World War II. It pulls the plug on 100 years of history, brought down by payoffs to a gangster and 260 billion ($2.1 billion) in debts it hid from investors. It's another warning of the tough times ahead for Japan's financial industry. Banks are saddled with a quarter of a trillion dollars in bad loans and brokers face more competition for a shrinking market. (Bloomberg) ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Hey, didn't Boi have a really big long position in Yamaichi recently?? He was last seen eating lots of sushi with Rachel from what I hear... (Sorry Stevie, running out of Bre-X jabs!) :) xoxo