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

To: Ramsey Su who wrote (6078)	6/29/1998 9:19:00 AM
From: Katherine Derbyshire	Read Replies (1) \| Respond to of 10921

Based on the article you included, the Ministry of Finance has proposed a 30 trillion yen war chest for the bridge bank. Proposals to fix the crisis have been floating around for years, but nothing has happened, even as the problem has mushroomed. I don't expect the Japanese parliament to act on this any more quickly than the US Congress would in a similar situation (meaning nothing will happen before the election, if then), nor do I expect the Japanese taxpayers to be any more passive than US taxpayers would be if asked to fund a comparable bailout of corrupt bankers (meaning not passive at all). Katherine PS I also remain skeptical about the 296 billion yen number for Sumitomo+LTCB bad debt.