Hard times for Japanese Banks.
By gewcew23
@gewcew23 (8007)
United States
October 31, 2008 9:14pm CST
Following the problems in the financial sector in the US, 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.
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2 responses
@suspenseful (40192)
• Canada
1 Nov 08
I always thought they did not have any problems over in Japan. I wonder if they have deposit insurance like they have in Canada. It seems that lots of the banks are failing. I guess the world banks are bailing people out. I just wonder what is going on and I hope they straighten this mess out.
1 person likes this
@redyellowblackdog (10629)
• United States
1 Nov 08
Oh... you are funny! It is so early I read a couple sentences before catching on. I wish we would let a few of the banks here go belly up for their stupidity. It is what would straighten everything out.
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