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To: Clarksterh who wrote (15929)	10/2/1998 4:10:00 PM
From: Joe NYC	Respond to of 152472

Clark, The solution, IMVHO, is to restore confidence by cleaning up the worst banks (the worst 10%?) and rescuing all the others. I agree. I see part of the problem as real, part psycholgical. The real problem are all the bad loans that need to be brought closer to market realities. The only question is who is going to absorb the loses. The second part is purely psychological. Japanese people lost their confidence in themselves. The only thing the government can do to restore the confidence is by acting responsibly, conducting sound fiscal policy. Which by the way Japanese government is not doing. All the misguided attempts to "stimulate the economy" through government spending left Japanese government with high debt high deficit. In short, Japanese government is reducing people's confidence that there is a light at the end of the tunnel, instead of increasing confidence. Joe