More Banking Problems

[JerryR]

More Bank Problems - this time it's Japan



Following the problems with Lehmann Bros and in the sub-prime lending market in America and the run on Northern Rock, HBOS and Bradford & Bingley 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 nose-dived.



While Samurai Bank is soldiering on following sharp cutbacks, Ninja Bank is reported to have taken a hit, but they remain in the black.

 

[danerectal]

Amazing. :lol:

 

[john_kidder]

Banks in Canada have been rated the most secure in the world in a recent IMF report. There is no crisis in the Canadian mortgage or credit swap market. Our banks are solid.

Banking is tightly regulated here, substantially more than Europe and much more than the US. The Finance Department of the government of Canada rewrites the Bank Act every 10 years, with about 5 years of consulation every time. And the governor of the Bank of Canada has enormous moral suasion with the bankers.

As a result, the banks in Canada have been bitching for years about being over-regulated. Their international competition, they've argued, has been able to use highly profitable debt and derivative instruments unavailable to them, and won't the government please learn from the US and just get the hell out of the way? Then, as Hayek and Friedman and Reagan and Thatcher said, the free market could work its magic and we'd all get instantly richer.

Isn't it ironic that these over-regulated Canadian complainers are now just about the only banks in the world that don't have governments as major shareholders?

The shockwave in the world's financial markets is like the shockwave from the asteroid that extinguished the dinosaurs. Unregulated financial markets will also soon be extinct. And not past time.

 

[john_kidder]

More Bank Problems - this time it's Japan
Origami Bank has folded, Sumo Bank has gone belly up and Bonsai Bank announced plans to cut some of its branches. Karaoke Bank will go for a song, Kamikaze Bank nose-dived. Samurai Bank soldiers despite cutbacks, Ninja Bank remains in the black.

Oh for god's sake, Jerry, you got me. I just read the header on your message, not the content, before I posted that pontificating response above.

I've been had. Seppuku is my only honourable exit.

 

[fronobulax]

Oh for god's sake, Jerry, you got me. I just read the header on your message, not the content, before I posted that pontificating response above.

I've been had. Seppuku is my only honourable exit.

I note the fact that your post was somewhat of a veer, but I do have to say I thought it was interesting and insightful nevertheless.

 

[jcwu]

Oh for god's sake, Jerry, you got me. I just read the header on your message, not the content, before I posted that pontificating response above.

I've been had. Seppuku is my only honourable exit.

I note the fact that your post was somewhat of a veer, but I do have to say I thought it was interesting and insightful nevertheless.

I read through John's whole post, waiting for the punchline that never came. :lol:

Good points raised, though!

 

[cjd-player]

Back to your old self there, Jerry. :lol: :lol: :lol:

Nice to have you back in the funny farm, where you belong.
A person in your condition shouldn't travel out among the "Normal" people too often, you know. :mrgreen:

 

[taabru45]

Isn't a recession when your neighbor is out of work.. ....and a depression is when you're out of work! Steffan

 

[Default]

I note the fact that your post was somewhat of a veer, but I do have to say I thought it was interesting and insightful nevertheless.

That's grounds for banning around here.

 

[jcwu]

Oh and you forgot this one - the government had to close the books on Manga Bank.

 

[kitniyatran]

:lol: :lol: :lol:

 

[JerryR]

[quote="john_kidder I've been had. Seppuku is my only honourable exit.[/quote]


That takes guts :mrgreen:

 

[JerryR]

I note the fact that your post was somewhat of a veer, but I do have to say I thought it was interesting and insightful nevertheless.

That's grounds for banning around here.

Being interesting and insightful :?: I have to agree :mrgreen:

 

[kitniyatran]

[quote="john_kidder I've been had. Seppuku is my only honourable exit.

That takes guts :mrgreen:[/quote]


More :lol: :lol: :lol: !

 

[JerryR]

Although the pound is plummeting against the US dollar, at least I'm still a billionaire - if not a trillionaire - in Zimbabwe dollars :mrgreen: