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To: CPAMarty who wrote (27172)	12/29/1997 11:37:00 AM
From: Rarebird	Read Replies (2) \| Respond to of 50808

CNBC mentioned this morning about a Chinese Banking Crisis! Poor Cube!

To: CPAMarty who wrote (27172)	12/30/1997 2:10:00 AM
From: Rarebird	Read Replies (2) \| Respond to of 50808

Marty, Japan is CONSIDERING issuing preferred stock in Japanese banks which will pay more than US Treasuries. If the Japanese Government announces a preferred dividend rate ( which is a guaranteed rate of interest ) that is higher than the yield on Treasuries, do you really think that the Japanese financial institutions and other investors wouldn't sell their US Treasury holdings? That could cause a further big drop in the US equity and bond market. The NY Fed could not absorb all the selling here.