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To: IceShark who wrote (25224)	3/15/1999 7:46:00 AM
From: John Pitera	Read Replies (1) \| Respond to of 86076

do we need to worry about another serious leg down in Japan? In terms of picking up some Japanese Equities. What do you think?

To: IceShark who wrote (25224)	3/15/1999 7:51:00 AM
From: Earlie	Read Replies (1) \| Respond to of 86076

Ice: The Japanese "Big Bang" (part 3) requires that the banks provide plain true, clear and transparent accounting on April 1. Now as much as I personally think we may not quite get everything out into the open, it is for sure that the banks will look a whole lot better with the Nikkei up a bit rather than down. (g) Last year, the government actually came out and said that a Nikkei below 18000 represented insolvency for the whole banking system, and that it would buy the Nikkei to push the index up for the year end (March 31). They actually did this. In the process, the vaunted Postal Savings fund was pillaged, but who cares. I see this run-up as more of the same. Best, Earlie