Mike,
OT NAG (not about golf)
It is amazing that the Japanese will take this type of crap from their government. Ya, go ahead and use our tax dollars to bail out these banks and don't bother to give us the details.
They have set aside 13 trillion yen for this gallant effort. If I am a Japanese bank, I will rush out and stand in line. This 13 trillion, or US$93 billion, is going to solve a problem now estimated at about US$1 trillion?
May be Japan should discover Christianity. Bless those two loafs and five fish and feed thousands.
Ramsey
TOKYO (Nikkei)-The chairman of a government panel responsible for
approving capital injections for banks said Tuesday that an audit of
Long-Term Credit Bank (8303) need not necessarily be completed for
the bank to receive public funds.
Yoko Sasanami, chairman of the Financial Crisis Management
Committee, said in testimony before a lower house committee that LTCB
could receive public funds through Deposit Insurance Corp. before the
Financial Supervisory Agency completes its inspection of the bank's
financial records.
Sasanami said, however, that the bank's application for a capital
injection will be carefully examined.
Fully recognizing the importance of the audit results, she called on the
FSA to report on its progress to her committee.
Masaharu Hino, commissioner of the watchdog agency, said the
inspection may take longer than conventional audits by the Finance
Ministry, which take a few months.
(The Nihon Keizai Shimbun Wednesday morning edition) |
