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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: kahunabear who wrote (9184)	10/22/1998 8:54:00 AM
From: MythMan	Read Replies (3) \| Respond to of 86076

He get punched by a kangaroo in Sydney? <g> >>No U.S. bank earnings problems-Fed's McDonough SYDNEY, Oct 22 (Reuters) - New York Federal Reserve President William McDonough said on Thursday he did not think the U.S. banking system was going through an earnings problem. McDonough noted that some U.S. banks had reported weak earnings for the third quarter. "But the vast majority of American banks have no involvement in the activities that have brought about some weakness in earnings at some of the larger banks. ''Therefore the American banking system is not in fact going through an earnings problem.'' McDonough said the problems that had beset some banks in the third quarter should be fully reflected in their earnings for the period. ''I do not believe that it follows that the earnings weakness will continue,'' he said. The New York Fed president also declined to comment on speculation that Deutsche Bank AG (quote from Yahoo! UK & Ireland: DBKG.F) was considering a takeover bid for Bankers Trust Corp (NYSE:BT - news) McDonough was speaking at a news conference after a two-day meeting of banking supervisors here.<<