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

To: goldsnow who wrote (6412)	7/30/1998 1:58:00 PM
From: Katherine Derbyshire	Read Replies (2) \| Respond to of 10921

The recent setback suffered by Japan's LDP ruling party will force it to embrace the necessary changes. Well, maybe not... Buried at the end of an article in today's WSJ, I found the following paragraphs: Only six weeks ago, Japan's leaders promised their U.S. counterparts they would lower the boom on the Japanese banking industry. Senior members of the LDP, in fact, had already been drafting legislation that would drive banks and their borrowers out of business. But as the plan got wide coverage in the local media, property companies and general contractors grew worried. One result was a stunning defeat for Liberal Democrats in elections for the upper house of Parliament earlier this month, and Prime Minister Ryutaro Hashimoto announced his resignation to take responsibility. "A big reason they lost was that the construction industry didn't get out the vote," says an official at a bank with ties to several large contractors. "They felt betrayed. And the politicians realized the tough banking measures they were talking about so proudly were also very tough on borrowers." The title of the article is "Japan Ready to Tackle Bad Banks, But Some Say Laws Are Too Vague", and it's in the International Section, but I can't seem to get a meaningful URL because the only way to find the online version seems to be the search engine. Guess they're using obscurity to protect their print revenues.... Katherine