Japanese Banking Crisis
Japanese Banks in Crisis
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, 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.
While 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.
Heard that those at Harakiri Bank who were once known to be risk-takers have now lost their guts, and those at Nippon Bank are no longer painting the town red. Those at Toyota Bank have not been spared from the car-nage, and Judo Bank was totally thrown off cos they never saw it coming. Sayonara Bank just said its goodbye, and Miso Bank is also in hot soup. As last reported, Ramen Bank was holding on to its last strand of hope.