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To: Paul Fiondella who wrote (63564)	8/29/1998 1:07:00 AM
From: TTOSBT	Respond to of 186894

Re: "The markets here would stabilize if Japan doesn't sink further. That's the key to holding the line. At least in 87 Washington understood they were in a crisis. Everyone around Clinton seems to think its just a personal crisis. OF course you could be more cynical and say that the big boys think that there is nothing wrong with a correction (until they realize its more than that) since they got out in time." So I guess the big boys think that holding paper money backed by a government in crisis is superior to holding paper shares backed by corporations? Washington is not in crisis Japan is too stubborn to clean house. Washington sent Bill Seidman there to help them correct their banking system but they keep reverting to having the successful banks taking the troubled banks debt on. The government should make the successful banks stronger by having them bid on the good portion of the trouble banks and then taking the bad debt and absorbing it and get the crooks in jail then dissolving the remainder of the troubled banks. Then world money will again trust Japanese investments. It probably is a lot more compilcated then that but it's a start in the right direction. TTOSBT