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Strategies & Market Trends : HONG KONG -- Ignore unavailable to you. Want to Upgrade?

To: Dayuhan who wrote (2264)9/1/1998 11:15:00 PM
From: Ron Bower  Respond to of 2951
 
Steve,

"Banks that were caught up in circumstances beyond their control might arguably be entitled to a degree of relief. Banks that stuck their necks way out in search of an extra buck need to suffer the consequences."

I agree. The Asian crisis was a result of the latter, particularly on the part of the Japanese. Hong Kong banks are somewhat guilty of the 'greed' but more a victim of the crisis. The banking policies were fairly conservative considering the economy of Hong Kong a year ago.

If the HKMA could stabilize the economy 'before' it crumbles under the speculators, the cost would be far less than doing nothing resulting in bank failures and bankruptcies as we now see in much of Asia.

They had to try even if it failed becasue the alternative would be far more costly.

Thanks for the response.

JMHO,
Ron

Ron



To: Dayuhan who wrote (2264)9/2/1998 11:10:00 AM
From: Tom  Respond to of 2951
 
Steve: A history of this type of banking system shows that it eventually either goes bust or creates extreme circumstances in order to prevent its insolvency. The government knows that, at least some in government do. It's the mechanism. And a very fast mechanism.


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