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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: Worswick who wrote (1333)	1/21/1998 5:41:00 PM
From: Sam	Respond to of 9980

Worswick, "It seems the Sanwa and the Sumitomo banks of Osaka are struggling badly. They have taken, according to my friend, to seizing customers accounts who have small business loans which they (the bnaks)have some question about." This is to be expected. Remember the credit crunch in the US back in 90-91? I have some friends who were/are small business owners who had loans called in, even when they had long-standing relationships with banks and had never missed any payments for decades. The banks were so touchy and nervous that they were just calling in everyone, good credit or no. And if the owner couldn't come up with the cash, they were either liquidated, or given a few weeks to get money from another source. It was nuts. So it goes. I think it was on this thread that someone repeated the old saw about bankers: They want to loan you their umbrella when the sun is shining, but want it back as soon as it starts raining.