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Technology Stocks : Novell (NOVL) dirt cheap, good buy? -- Ignore unavailable to you. Want to Upgrade?

To: dwight vickers who wrote (22803)	6/20/1998 4:39:00 PM
From: Paul Fiondella	Read Replies (1) \| Respond to of 42771

(Off Topic) Yep I believe Rubin was against supporting the yen. I believe the Clinton administration had not thought out the implications of his remarks before Congress. They then saw the reaction in the Yen tanking when he opened his mouth and were caught with a potential stock market collapse. Total disarray. They then called an emergency meeting to figure out what to do before a blow-up overtook them and decided to reverse course and defend the Yen. It shows you how unstable the situation is. The only quid pro quo so far is (1) The Bridge bank popping to the front of the Japanese legislative agenda (2) the deal to loan Japan currency against its US Treasury bonds (repros I believe) rather than have Japan continue to liquidate the bonds to get the cash to provide liquidity to its banking system. This is an attempt to end the yo yo like effect on the Treasury bond market that we have been seeing with each fresh round in the crisis. It also limits the possible run on the dollar later by locking up the Treasuries.