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.

Strategies & Market Trends : The Millennium Crash -- Ignore unavailable to you. Want to Upgrade?

To: Cynic 2005 who wrote (1694)	11/24/1997 10:33:00 PM
From: Staff	Read Replies (1) \| Respond to of 5676

No problem! Did! Hey.. I love this Japan brokerage mess. I love Clinton calling it a glitch. When slick calls it a glitch you can bet were in deep doo doo! If he would had said... wow... its pretty big .. it could be bad but...I'm on top of it.. I may have actually believed him. But it's a glitch. It's somthing they are just goingto work out by themselves and have the IMF and world bank clean up the mess. What a guy... now I know its serious as hell:-) Anyway.. let me get up on the soap box for a minute... All banks and brokerages in Japan and around the world today are so inter mingled today that if one sneezes everyone gets a cold. there are no countries.. just divisions of one big corproation in my view. To say this is just an isolated incident is like saying I cut off muy right finger but my others are fine. Sorry... it hurts like h@ll all over:-) Trying to downplay this is going to add fuel to the fire in my view. I don't mind because I'm short the S&P but it's total poppy cock to tell the public this in my view. You say it will go away and it dosn't.. they won't beleive you the next time you tell them not to worry. The essence that scares me about the entire fiasco is when the auditors went in and looked at the books. Within 1 day they claimed they saw some "BLATENT DISCREPENCIES)" or as I like to call it ... real creative book keeping. Call me a cynic but I'll go way out on a limb. I will predict that as they dig a little, they will find they were not the only ones using this gimmick to stay afloat. A few companies may be having some real prayer meeeting with regulators in the days ahead. My guess there are a few folks hoping nobody comes at the front door going "by the way" we would like to take a look at your books... you mind? " The bottom line gang is that you don't blow a few hundred billion because 1 or 2 guys dropped the ball:-) You have bucu people involved and as they get the finger pointed at them they are going to start pointing fingers at somebody else. This thing in my view has not even begun getting messy yet. Don't be surprised if we read about a few successful fires taking place in some key financial building around town in the next few days.:-)