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To: limtex who wrote (13346)	8/5/1998 4:27:00 AM
From: Maurice Winn	Read Replies (2) \| Respond to of 152472

*Fixing Japan* Limtex, I don't know that it is quite that simple. 1 From where I sit, the USA does think of itself as friendly, but when a friend weighs 100 times as much as yourself, they can roll over in bed and squash you inadvertently. But the USA is not really the neighborhood good guy. Xena had to correct Madeleine Albright and NZ has suffered some heavying by the USA. Japan will feel similar though the Japanese economy is comparable in size to the USA. 2 Local practise is probably best left to the locals who have to clean up the fallout from any rash decisions. I'm inclined to agree with you that the bankrupts should be cashed up and taken over. 3 "...ask their good friends ie us and we'll get Mr Rubin to send a team there and show them step by step what to do." I'm sure. But they might prefer to and I'm sure they are capable of, fixing their problems in their own way. They have the knowhow. Just as the USA should take my advice, but seems to prefer their own solutions. The principle that insolvent banks should be liquidated isn't what happened in the USA S&L. Nor New Zealand in 1988/89. The taxpayers funded a takeover to keep depositors whole, to coin a phrase. Personally, I think depositors should be liquidated as well as the insolvent banks. No S&L rescues in my book! I go for first principles. Peripheral processing. Let a thousand flowers bloom. All that jazz. Overall, I can't take the Asian problem too seriously. A bit of a hiccup. Mqurice