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	US banks sent reeling in Asian chain-reaction Predicted by: Anonymous Date predicted: 1 June 1998 Supposed to happen by: 1 October 1998 Event: Major US banks Morgan Guaranty, Chase Manhattan and Bankers Trust are sent reeling as several Asia-Pacific financial institutions renege on Derivatives contracts. A banking chain-reaction weakens the entire banking infrastructure to the breaking point. Experts fear collapse if even minor Y2k problems arise. Outcome: Close: I have to give partial credit on this. The LTCM hedge fund (i.e. derivatives) operated by Nobel laureates Merton and Scholes had to be bailed out in late September at a cost of billions, the stock market has dropped precipitously, and there are headlines about the precarious situation of global finance. There has been no reneging as far as I know, but the Asians are mad that crony-capitalism was used for U.S. firm LTCM, while they have been criticised for the same sort of action. This and other predictions compiled by Bradley K. Sherman.		FEATURES Book Reviews Y2K already has spawned its own genre. We tell you what books are worth buying. Chip 'n Little Cartoons Chip 'n Little goes on TV Chip 'n Little visits John Koskinen Chip 'n Little saves the world Warning: This cartoon has been called "foolish and tasteless." Y2K from A to Z Y2K Haiku Traditionalists may be shocked. Mad Cow Culture What does Y2K have in common with today's Mad Cow Culture? Answer: Everything. Declan McCullagh's Y2K articles Psychology of Y2K LATEST NEWS As of December 31, 1999 Get Your T-Shirt Quick Bill Gates Does Y2K Reader Feedback A Sarcastic Calendar Cooking After the Apocalypse A Real Y2K Disaster Hitchhiker's Guide Meets Y2K