Bank Crisis Hits Japan

Bank Crisis Hits Japan

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

In the last seven 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 prices nose-dived. Also today, Cherry Blossom Financial Services is reported to be in the pits.

While Samurai Banks are soldiering on following sharp cutbacks, Ninja Banks are 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.