News Release from Japan
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 sharply fell.
While Samurai Bank is fighting bravely following sharp cutbacks, Ninja Bank is reported to have taken a hit, but remains 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.
