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To: dwight vickers who wrote (19354)1/5/1998 10:38:00 AM
From: Paul Fiondella  Read Replies (1) | Respond to of 42771
 
(Off Topic) Long bond looking good.

I can't believe what I'm reading about Korea. IT looks like they want to take all of the bad private debt and make it the Korean governments responsibility.

The Koreans seem to be going along with the idea of then floating government bonds internationally to pay it off with. The House of Morgan speaks again.

So no one will take losses and the speculators will take the money both ways. So who bails Korea out of the government loans? It looks like export markets. Korea will dump goods and transfer the problem to weaker exporting countries. Thus the decline of other Asian currencies.

One thing this proves is that the big boys always manage to find a lifeboat off of the Titanic.