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To: PaulM who wrote (6935)1/29/1998 11:45:00 PM
From: IngotWeTrust  Respond to of 116791
 
Paul B sez: I suspect a good deal of the asset base of financial institutions all over the world exist only through accounting constructs that have little to do with reality.

Did you see the Bundesbank write-offs announcement this am...some $2.1 Billion or some such gosh-awful number due to bad Asian loans? And this is from a nation, who, tho' perceived to be stronger than "AJAX", needed every spare dime to continue to integrate East and West Germany!

O/49r