Thursday, October 16, 2008
Latest from the Japanese banking industry.....
Yesterday, we heard that Karaoke Bank is up for sale, due to poor
performance, and will likely go for a song. Today, shares in Kamikaze
Bank initially nose-dived and leveled off very low, despited a fleet of
defensive actions. In the last 12 hours Origami Bank has folded,
expecting never to open again. Also, Sumo Bank has gone belly up and
Bonsai Bank announced plans to cut back a number of branches.
Furthermore, it was just announced that 500 staff at Karate Bank got the
In somewhat better territory, Samurai Bank is soldiering on following
sharp cutbacks in close trading; and although Ninja Bank is reported to
have taken hits, it remains in the black.
Meanwhile, analysts report that there is something fishy going on at
Sushi Bank, where it is feared that staff and customers may get a raw
deal in the open market.