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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets! -- Ignore unavailable to you. Want to Upgrade?

To: Joseph Beltran who wrote (5778)	6/10/1998 6:29:00 PM
From: Jess Beltz	Read Replies (1) \| Respond to of 10921

Joseph, I personally don't feel that the IMF has the resources to bail out Japan in any event. You are also correct that the IMF has no power to dictate terms to Japan, especially since, from a Machiavellian standpoint, the IMF's power to dictate terms to anyone is pretty much purely a function of its ability to withhold bailout money and the desperation of the need for that money. I think that the problem is much too big in Japan for an effective IMF bailout, and therefore the IMF cannot dictate terms. So what will it take? With respect to the banking sector, I see now NO alternative to an invitation to Western banks to come in and form alliance/merger arrangements with the better of Japan's banks, which can in turn begin to help (in an RTC type arrangement) some of the less well off banks. This will mean breaking the "Japanese cultural stranglehold" that I talked about yesterday, that has been the cause of the denial in the first place. I think that Western banks would like to penetrate the Japanese market enough that there is still time to make these kind of arrangements, if they get off of their asses. jess.