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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: robnhood who wrote (15903)	6/18/1998 12:51:00 AM
From: Naveen Kumar	Read Replies (2) \| Respond to of 18056

Wonder if the Soros types could collectively negate the Fed's actions to prop up the Yen. Unless the 800 lb gorilla (the Fed) has made a firm commitment to save the Yen, the currency guirelas could sooner or later tank the Yen again. Any comments ?

To: robnhood who wrote (15903)	6/18/1998 6:56:00 AM
From: John Hunt	Read Replies (4) \| Respond to of 18056

Are the Cards Stacked Against Japan's Banks? washingtonpost.com << Japanese leaders promised yesterday to fix their ailing banking system, but they stopped short of saying they would undertake the drastic measures urged by the U.S Treasury and many international financial experts. Treasury Secretary Robert E. Rubin and his top aides have pleaded with Japanese officials to employ the sort of ruthless, market-oriented policies that helped the United States bounce back from the savings and loan crisis of the 1980s: Close failing banks, merge the weak with the strong, and force the survivors to accept huge losses. >> << Japanese bad loans are estimated to be worth at least $600 billion, about half of which are probably worthless. But Japan's economy is about half that of the United States. So, by implication, Japan's bad-loan problem, relative to the size of its economy, is about six times as large. Bad loans pervade the balance sheets of virtually all of Japan's banks. That means even if assets of broke or struggling banks were auctioned off, few strong lenders stand ready to act as buyers. In the United States, by contrast, bad loans afflicted a relatively small portion of lenders concentrated in a handful of major states. >> Looks to me like the US's 2 billion just went down the drain. Glad we are not paying for it. < G > John PS - I put my generator shed up, but still have to permanently mount the generator and wire it in. Bugs are bad right now, so I will probably not finish it until July. Had to use it recently for a few hours during yet another outage. I think the power grid is still shaky up here.