IUBio

brain sizes: Einstein's and women's

Bob LeChevalier lojbab at lojban.org
Fri Sep 27 21:35:37 EST 2002


"John Knight" <jwknight at polbox.com> wrote:
>> >5)  Deposited so much money in Sumitomo Bank that it grew IN ONE YEAR by
>> >almost as much as the entire asset value of Bank of America
>> >http://christianparty.net/asianeconomiccrisis.htm
>> 
>> Rather obsolete numbers, if they were ever correct.
>> 
>> http://www.channelnewsasia.com/stories/corporatenews/view/11360/1/.html
>> 
>> gives a 6/92 asset value for Mizuho of 87 trillion yen, which is $719
>> billion.  Sumitomo's assets convert to $521 billion.  So Mizuho LOST
>> nearly $600 billion in assets in a few months if we were to believe
>> your numbers.  The combination of postal savings and postal insurance
>> accounts have 360 trillion yen, which is just under US $3 trillion.
>> 
>> lojbab

"My" figures are straight from American Banker, which is a more
credible source than this Americanized 

"American Banker" is not "Americanized" and a Singapore press agency
report quoting a Japanese news daily IS?  

Riiiight!

(An
>[read: dumbed down] "Japanese news" source.  Your "news" doesn't even
> begin to explain WHY such "news" stories have been dominating the
> landscape for the last half a century, but are always, always
> followed up by the "good news" that their projections weren't so bad,
> after all.

That wasn't a "projection", those were the reported numbers from the
Japanese press.

>You will see from American Banker that the OFFICIAL increase in assets
> at Sumitomo Bank in just ONE year (the year OUR "news" has been
> proclaiming from the rooftops was an "Asian Economic Crisis") was a
> whopping $409 BILLION.  The doom and gloom "news stories" that
> preceded this OFFICIAL publication of their bank assets were exactly
> the same as your "news" reference.

American Banker IS a "news publication", an American one.  It also
happens to require a subscription in order to check your cite and
verify the numbers, not that I much care.

>This *increase* in assets was almost as big as the TOTAL assets in
> Bank of America (which LOST $20 billion that year).  Mizuho is almost
> a quarter of a TRILLION dollars bigger than our biggest bank,
> Citigroup (which is a conglomeration of other banks).

Only if someone believes your numbers.  Which no one sane will do.

>The year before that, we heard the same gloom and doom stories about
> the Japanese economy, but the BANKS went wild and gave this LIE away. 

The news report I posted seems to indicate that their balance sheets
were loaded with bad loans:
>The Mainichi Shimbun said the need to cut assets is due to the fall in
> their shareholders' equity after writing off massive amounts of bad
> loans last year.
>
>If the situation remains unchanged, the banks are concerned that their
> capital adequacy ratios may fall.

>But that's the bad news.  The good news is that the Japanese don't
> even keep their personal savings in Japanese banks.  This is just the
> overflow from Corporate Japan.  The REAL assets are in their
> ultra-secretive, semi-private Postal Savings Accounts which contain
> at least $32 trillion, and possibly more than $40 trillion.

They're not so ultra secretive, and the amounts aren't nearly so high.

As I reported yesterday, the combination of postal savings and postal
insurance accounts have 360 trillion yen, which is just under US $3
trillion.  A lot of money, but your numbers are a joke (as usual). 

lojbab



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