JAPAN: NIIGATA CHUO BANK FAILS (singlion) Oct 01, 07:14 Niigata Chuo Bank Ltd, a second-tier Japanese regional bank, failed after its months-long recapitalisation efforts proved unsuccessful last month. Niigata Chuo said it has notified the government that the regional bank fears that it will be unable to repay deposits due to increasing outflow of deposits and severe financial distress. The Financial Reconstruction Commission is expected to send an administrator to the bank, and all deposits will now be protected by the government.

"It just a small bank,no cause for alarm." , singlion

-- Andy (2000EOD@prodigy.net), October 01, 1999

Answers

Yeah, plus its a FOREIGN bank, so that could not possibly have any relevance over here in the U.S. Anymore than the Yen or any other foreign currency. Or for that matter, that funny yellow metal stuff that you are always talking about, Andy.

-- King of Spain (madrid@aol.cum), October 01, 1999.

Side benefit: Gold up $8.50 this morning.

Got Gold?

-- Bill (y2khippo@yahoo.com), October 01, 1999.

I believe this to be the second or third Japanese bank failure in last few weeks. Looks like the dominoes are all lining up.

-- Bill P (porterwn@one.net), October 01, 1999.

I can't help it KOS, I have GOLDFEVER - can't you tell?

The stress is getting to me :)

Thanks for reminding me Bill - that $8.50 move would be all well and good if one was "positioned" properly...

And I ain't - as per usual... oh well :)

Go Gold! Go DROOY!

-- Andy (2000EOD@prodigy.net), October 01, 1999.

BTW another smallish bank just failed in Virginia or somewhere.

Yeah - FDIC will protect you to 100k now, but I bet there were a bunch of old coots that had MUCH more than 100k with the bank...

Sorry - don't have a link... happened very recently...

-- Andy (2000EOD@prodigy.net), October 01, 1999.