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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: steinman who wrote (6919)	10/4/1998 10:39:00 PM
From: Dayuhan	Respond to of 9980

This is one of the few threads on SI where a reasonable response is actually normal. Making sense of the past is difficult, making sense of the present is worse. For a dose of doom under an impossibly pretentious title, see: pei-intl.com Good summary of what most of us already know, but worth reading for this comment, buried in the litany: In the case of Indonesia, some well-known companies realized that if they failed to meet an interest payment then the holders of their debt sold their bonds at the market in a panic. This led to some Indonesian companies INTENTIONALLY withholding interest payments while covertly buying back their own bonds for pennies through the Hong Kong market. First time I've ever laughed while reading an economic treatise. The sense of shock is wonderful. Steve