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Strategies & Market Trends : JAPAN-Nikkei-Time to go back up? -- Ignore unavailable to you. Want to Upgrade?

To: chirodoc who wrote (1585)	11/9/1998 6:05:00 PM
From: Ramsey Su	Read Replies (2) \| Respond to of 3902

Curtis, so BoJ is buying up commercial paper, may be even corp debt. Lets see what this really means. These are debt instruments that no one wanted. Like a Ponzi scheme, new money is replacing old money. So the original lenders got bailed out 100% while BoJ ends up with paper of questionable quality. The net effect is a quiet cash infusion to banks holding bad debt by taking over their position. Hmmm, if I am correct, are the Japanese people so stupid to let their politicians get away with big time theft, funneling money to their crony bankers? When the bail out package was first announced, I was quite optimistic. The more I read, the more I am heading back to the bear den. In the mean time, could this be a signal that the other shoe is coming? scmp.com Ramsey