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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: SE who wrote (19409)	8/19/1998 10:49:00 AM
From: Andrew C.R. Biddle	Respond to of 50167

Scott- Interesting to read the article on Japan's bank crisis and compare it to information e-mailed to me this morning from broker: > Japan seems to be taking some American-like steps in helping to solve > their bad debt problem. The Financial Times reported this morning > that Japan has sold as much as $27.5 billion in "bad loans" over the > last 18-months. While anywhere between $600 billion to $1 trillion is > purportedly in need of some sort of remedy, this step is viewed as a > positive rather than charging them off or throwing government monies > in the pool to cover the losses. > > Meanwhile, Bank of Japan Governor Masaru Hayami said, "We are much > better prepared now compared with November of last year" to resolve > such banking-related issues. He also held out the possibility of a > rate cut if necessary. Andrew