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Microcap & Penny Stocks : Rat dog micro-cap picks...
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To: Bucky Katt who wrote (15948)11/30/2003 11:04:53 PM
From: Condor  Read Replies (1) of 48461
 
Re: Japanese banks.

Many banks in Japan & China are technically bankrupt.

That is interesting William.
I just had this exchange with a very knowledgable cyber-acquaintance who is familiar with Japan and travels there regularly.

He commented:

"What killed the Japanese economy was the accumulation of bad debts owed by gangsters and their allies. To this minute the banks are still scared to demand the properties on which they have lent nonpaying mortgages. Bank officials have been murdered by the gangsters, who have strong allies in the Liberal Democratic Party that runs Japan. The remaining bank officials do what they are told. Originally they were commanded to make those loans. When the banks have no assets they can't lend money. When they can't lend money the economy freezes. Of course land was way overpriced but that was not the only thing that bombed the economy."

cheers

C
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