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Credit Crunch Hits Japanese Banks

Credit Crunch Hits Japanese Banks

Postby Helen on Tue Oct 28, 2008 7:09 pm

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

In the last 7 days the Origami Bank has folded, the Sumo Bank has gone
belly up and the Bonsai Bank announced plans to cut some of its
branches.

Yesterday, it was announced that the Karaoke Bank is up for sale and
will likely go for a song, while today shares in the Kamikaze Bank were
suspended after they nose-dived.

While the Samurai Bank is soldiering on following sharp cutbacks, the
Ninja Bank is reported to have taken a hit.

Furthermore, 500 staff at the Karate Bank got the chop and analysts
report that there is something fishy going on at the Sushi Bank where it
is feared that staff may get a raw deal.
User avatar
Helen
 
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Joined: Thu Jul 24, 2008 6:20 pm
Location: Chicago, Usa

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