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Re: Japan---yet another kakistocracy update....



My mother's first cousin was one of the largest S&L banker in California
in the early 60s.  After his bank collapsed in the mid 60s, my second
cousin who remained with the bank claimed that the bank had lent money on
virtually every brothel in San Francisco -- always lending far more than
the worth of the real estate.

--

Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael@xxxxxxxxxxxxxxxxx





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