(The following is something that I got from the Japanese language email group that I belong to.)
BIG PROBLEMS AT JAPANESE BANKS.
Following the problems in the sub-prime lending market in America and the run on Northern Rock Building Society in the UK, uncertainty has now hit Japan.
In the last 7 days 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.
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.