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

To: Joseph Beltran who wrote (4123)	6/2/1998 8:38:00 PM
From: don pagach	Read Replies (1) \| Respond to of 9980

MikeM and Joseph, The one thing I keep thinking about as I read your insightful posts about Japan is that it "seems" that people here have an idea on how Japan can get out of this current mess but due to stubborness (or Japaneseness as someone called it) the Japanese politicians will not act. I guess my question is: What will it take before there is action? Are we being too pessimistic on the whole situation in SE Asia? I myself don't think so, but hey the politicians over in Japan aren't exactly on red alert are they? Or is this mostly a function of what I am reading in the western press which doesn't exactly have its eye on decidely difficult, uncarcrash-like story. So, will we continue to see Japan mosey downward for the next 18 - 24 months and if there is no cataclysmic event just policy as usual. Thanks, Don

To: Joseph Beltran who wrote (4123)	6/2/1998 9:06:00 PM
From: Mark Myword	Read Replies (1) \| Respond to of 9980

>> god only knows what the "real" books of these banks look like<< Joseph - and that's the problem. They must be so bad that the Japanese authorities 1) will look like a bunch of corrupt idiots for letting things get into such terrible shape , and 2) are afraid of a major panic that is worse than what we have now. Why else can't they just come clean , tell the truth , and begin the repair process ? They have refused to do this for years , which tells me that the news is far worse than they can bring themselves to admit. Better to bleed the story out slowly , with careful spin management , and hope that a miracle recovery will somehow wondrously happen and make the bad numbers not seem quite so horrendous.