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Old 07-29-2010, 10:16 AM
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DocSheldon DocSheldon is offline
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Japanese Banking Crisis

Following the problems in the sub-prime lending market in America and the run on HBOS in the UK, uncertainty has now hit Japan.

In the last 7 hours Origami Bank has folded, Sumo Bank has gone belly up and Bonsai Bank announced plans to cut some of its branches. Yesterday, it was announced that Karaoke Bank is up for sale and will likely go for a song, while today shares in Kamikaze Bank were suspended after they nose-dived.

Samurai Bank is soldiering on following sharp cutbacks, Ninja Bank is reported to have taken a hit, but they remain in the black. Furthermore, 500 staff at Karate Bank got the chop and analysts report that there is something fishy going on at Sushi Bank where it is feared that staff may get a raw deal.
 
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Old 07-29-2010, 11:52 PM
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Puripong Puripong is offline
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It is certainly no doubt. This domino effect has been expected to be hit from last year and now it's come true. Sub-prime problems could lead a lot more problems in a soon, this is just the beginning.

It would be a real nightmare when it comes hit at my country local bank since they never prepared for the situation. Our country is already bankrupted actually but they act like nothing happened. Our ****ty government has already borrowed too much from both external fund sources and internal one like TAX / VAT. They are almost depleted and the only problems among the ministers is only about their own ministry budget after all.
 
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