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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: flickerful who wrote (26581)	9/5/1998 6:42:00 AM
From: flickerful	Respond to of 94695

Japan finmin sees possible Japan stock recovery Saturday September 5, 3:58 am Eastern Time The source said that the United States was not necessarily negative towards the yen's rise, but added that Rubin was unable to say that America's strong dollar policy had changed. He said the U.S. and Japanese authorities had not discussed foreign exchange levels in their talks here on Friday. But he added: ''I don't know why the yen has strengthened this much the last week or two, but the correction has started and I hope the correction will continue.'' The source also said that Rubin's comment that he shared Japan's concern about the yen's weakness ''has some significance.'' Another Japanese government source said that U.S. officials had expressed concern that a 13 trillion yen fund for recapitalisng Japanese banks might not be sufficient and wanted to know when public money would actually be put to use. Earlier this year Japan enacted a 30 trillion yen financial stabilIsation fund including 17 trillion to protect depositers, 13 trillion to recapitalise banks.

To: flickerful who wrote (26581)	9/5/1998 7:55:00 AM
From: N	Respond to of 94695

''I emphasized the importance of implementing strong actions to strengthen the banking system and restore confidence,'' [right, the major line] Rubin told a news briefing after a 90-minute closed-door meeting with his Japanese counterpart Kiichi Miyazawa. ''This requires, in our view, using sufficient public funds aggressively and appropriately to strengthen weak but viable banks, [this is all japan has been willing to commit too] accompanied by an accelerated disclosure of troubled assets, improved financial disclosure, and a strengthening of ...the regulatory structure,'[boilerplate] he added. ---- gees, this sounds a little like the man, who, fired from his job, sent a telegram to his boss 'f*** you...strong letter will follow.' actually not the right analogy but the flavor...Rubin sounds like the weary but ever vigilant responsible warrier...but the commentary 'take strong' measures' 'followed by a statement validating what japan wants to do -- bail out rather than restructure'... sounds like not much.. alas...but its going to remain interesting...that it is i didn't find any of this stuff...good work in finding this