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Japanese banks scare rocks Nikkei (THERE MAY BE TROUBLE AHEAD...)
The Daily Telegraph ^
| September 4, 2002
| George Trefgarne and Colin Joyce
Posted on 09/03/2002 10:24:18 PM PDT by MadIvan
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It's hard to know where the problems end and the blessings begin for Japan. Koizumi has been a disappointment in terms of his willingness to embrace and push forward reform; perhaps some other government would make a difference - Japan had better pray, and the rest of us by extension, that the wait is not too long.
Regards, Ivan
1
posted on
09/03/2002 10:24:18 PM PDT
by
MadIvan
To: Dog; Desdemona; texasbluebell; Amelia; nopardons; general_re; dighton; alisasny; Cacique; alfa6; ...
Bump!
2
posted on
09/03/2002 10:24:47 PM PDT
by
MadIvan
To: MadIvan
So much for the wonders of central planning....
3
posted on
09/03/2002 10:26:41 PM PDT
by
Mulder
To: MadIvan
You're just full of good news lately. YUCK !
But seriously, Japan thought that inaction, would somehow reinflate their bubble. That was wrong ( as the rest of the world knew ) and perhaps, a new government will do what should have been done, there, quite a long time ago.
4
posted on
09/03/2002 10:28:45 PM PDT
by
nopardons
To: MadIvan
The governor of Tokyo district spread alarm about the banks by saying yesterday he could move the capital city's £10 billion municipal cash balances out of the biggest Japanese bank, Mizuho Holdings, and deposit them at the US giant Citibank.
And what will CitiBank do with the money?
To: MadIvan
bump
6
posted on
09/03/2002 10:35:45 PM PDT
by
Red Jones
To: MadIvan
Here's some cheery news from Yahoo Finance:
Japan-Nikkei 225 1:13am 9,013.83 -202.17 -2.19%
Let the good times roll. Our markets won't be dull this week, especially if the volume continues to be so thin.
To: chance33_98
And what will CitiBank do with the money?If you have been reading the financial news, Citigroup (parent of CitiBank) has been tanking, may be involved in the financial scandals. Looks like the Japanese retain their bad judgement.
To: nopardons
Japan shows precisely the danger of having a single party in power for too long. And because Koizumi had a "funky" hair style the voters thought, somehow, he might be different even though he was part of that party. Forget it - Japan needs a change in a big way.
Regards, Ivan
9
posted on
09/03/2002 10:38:41 PM PDT
by
MadIvan
To: Lucius Cornelius Sulla
Quite correct. But I don't think that the Feds will allow "C" to tank. They will adopt the Japanese model and funnel free money to them to stay afloat. So that Citigroup never has to eat all of the bad loans nor disclose the shady dealings they have been involved with for over 20 years.
To: Nuke'm Glowing
There follow thru selling! Its not going to be much fun. All week. The Japanese have given up. Now its getting worse just when they thought it absolutely couldn't get worse. Perhaps we'll see what real, secular (not trading) capitulation is all about. Won't be fun at all.
To: chance33_98
and deposit them at the US giant Citibank. Citibank??? .. What are the nuts
12
posted on
09/03/2002 10:45:04 PM PDT
by
Mo1
To: Nuke'm Glowing
They will adopt the Japanese model and funnel free money to them to stay afloat.I don't know, there wasn't even a hint that the government would bail out Enron, Global Crossing, Worldcom, or the possible Time-Warner AOL failure.
To: MadIvan
It still amazes me to no end, how KKKlinton jumped ship at PRECISELY the right moment. Not having to answer for the smoke and mirror economy of the late 90's.
14
posted on
09/03/2002 10:46:06 PM PDT
by
paul544
To: MadIvan
When government ( as in Japan ) is the partner of commerece, and banking, there is always a disaster. Japan was never truly Democratized, nor Westernized ; not to mention modernized. Most of it was just superficial.
Now comes the reckoning.
To: Dialup Llama
Especially since they are about to break through the lower Bollinger Band. Not a good portent of this week's market action, especially with 9-11 coming up and all the instability in our markets.
To: MadIvan
Watch Japan embrace the military solution. It is the next step in the progression. It will work...but it will be awful...and it will upset the world balance of power. It's a shame that they could not rise above the corruption. They had the apple in their hand......and they let it rot. What a shame.....
17
posted on
09/03/2002 10:47:52 PM PDT
by
hove
To: Lucius Cornelius Sulla
There's a huge difference between an Enron and a money center bank. The implications of a Citigroup failure would slice 1000 points off the Dow. That is just never going to be allowed to happen, not in our lifetimes.
To: Mo1
Obviously !
To: nopardons
" Now comes the reckoning."
Such a phrase should scare you if you look to Wall St. also....
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