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To: limtex who wrote (11529)	6/16/1998 11:32:00 AM
From: Sawtooth	Read Replies (2) \| Respond to of 152472

<<The second biggest economy in the world is necessarily the partner of the US and we were entitled to believe that the Japanses authorities would ensure standards of behaviour in business and finanace appropriate to the number two player in the world. We have a right to be upset with the Japanses authorities. No I don't want them to bail out the Dow shareholders but I do want them to so the kind of things you are suggesting at levels that will make the necessary difference and then to put proper financial regulators with teeth in place.>> Good point. The expectations of standards of conduct, integrity in action and effective controls brings to mind our own S&L fiasco of not too long ago. ; )

To: limtex who wrote (11529)	6/16/1998 11:59:00 AM
From: Jeff Vayda	Read Replies (1) \| Respond to of 152472

limtex: Sorry, the culture which produced Japan Inc. is not going to go away until the people in power are replaced with people of a different mind set. Unfortunately it is rare to have people promote people who are different from themselves. It usually takes a massive upheaval to replace, in mass, the current power structure. Short story: Japan will limp along because it is in the best interests of the people in power to stay in power. They can be best assured of staying in power by not changing things very much. True, the world might be better off if everyone played by the same rules and maybe our rules are better than theirs. History will provide the answer. We have no 'right to be upset with Japanese authorities'. History has made one thing perfectly clear: Anytime one country tries to dictate another countries affairs, trouble is not far behind. May not be nice in the near future. Japan has won a seat at the table. We may not like the way they are playing their hand, but it is their hand to play. We can either fold, call or raise. I plan to raise and call the bluff of world collapse. Jeff Vayda