To: Ramsey Su who wrote (6202 ) 9/6/1998 9:18:00 PM From: Zeev Hed Read Replies (1) | Respond to
Ramsey, to stimulate demand in Japan, I would make it a "National; Priority", Spend $5 Billion bucks (a very small sum relative to the problem) on an advertising campaign structured to stimulate spending, including, if necessary tax rebates concentrated in one year for cumulative purchase above a threshold, funded from personal savings. I would also swallow the bitter medicine and from the 20 (excusde me 19 now) big banks on the verge of insolvency, I would take down, possibly half and the necessary write offs before the problems become twice as big as it is now, and transfer the left over assets to the other slightly healthier one. Yes stockholders will take a big shaving, but frankly stockholders in those banks have already taken 90% assets write down in the value of the stock, so the left over pain would not be impossible.
