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To: ahhaha who wrote (13447)	6/18/1998 10:41:00 PM
From: Henry Volquardsen	Read Replies (2) \| Respond to of 116861

Thank you very much ahhaha. I don't see why it is so difficult to see that a non-performing loan has little consequence. If a bank just stops recognizing that it exists, solves the problem. I'll tell Bank of America that when they try to get me to make a payment on my mortgage. 'Hey guys just pretend it doesn't exist'. I'll give you one thing, you have a unique view of finance. Oh by the way your question, Did our banking crisis have material consequence? I lived in Texas in the mid 80s and did business in Colorado, Oklahoma and Louisiana and the banking crisis caused a severe contraction in the region. Ask anyone who lived there at the time. And non performing loans in the Japanese banking system are 2 to 3 times what they were in the US at the peak on an economy 2/3 the size. Henry

To: ahhaha who wrote (13447)	6/18/1998 10:55:00 PM
From: Broken_Clock	Read Replies (2) \| Respond to of 116861

ahhaha...the reason why the powers that be go on and on about the "banking crisis"...the S & L crisis, etc. is so they can convince the sheep that a solution MUST be found, that is more taxes. the S & L crisis was resolved by the passage of a new FHA "premium" regulation which is still in effect. Joe Homebuyer buys a home with an FHA mortgage and now gets socked with an additional closing "premium of about $8,000 on a loan of $187,000. Gratiously, they will finance it at a rate equal to the mortgage rate. This fee is in addition to your normal FHA mort. ins. prem. This has been in effect for about 10 years so you can imagine how much has been repaid(!) to the US gov't for the S & L fiasco. Of course the collateral which was written off was bought by fat cats for 10 cents on the dollar and is now worth far more than the amount it was originally purchased for BEFORE the S & L collapse. Pretty good work if you can find it! What a scam. Good thing we had Republicans looking out for our interests then.