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He could tell you.. But then he'd have to kill you.. Or someone would have to kill him.Tsuru wrote:Mulboyne, since I believe you're a bit of a financial type what's your take on this whole subprime thing?..
Mulboyne wrote:There's a whole series of problems here.
kamome wrote:I'm no financial guru, but...
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Great stuff guys, thanks for taking the time to type that up.Mulboyne wrote:There's a whole series of problems here.
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Mulboyne wrote:There's still a prospect that a private buyer will take over Northern Rock so it hasn't been privatized yet although some commentators believe that would be the right option.
Mulboyne wrote:Given the mess we'd managed to create, nationalizing the thing at least makes it a clean deal for now. The potential buyers were creating more uncertainty than the debts themselves
kamome wrote:On the bright side, with interest rates declining and foreclosures increasing, shouldn't this mean that property values are finally coming down to a reasonable level so that I can buy a home with a lower interest rate?
...Japanese institutions should actively help American and European banks bolster their capital. Capital injections to this end may open up new opportunities for Japan's financial institutions, which have finally almost cleared up their accumulated non-performing loans. Of course, decision-making must be based on cautious management plans. Yet given the current situation in which American financial institutions are considering turning to sovereign wealth funds in the Middle East, they might well appreciate help from Japanese private institutions. Wouldn't it be symbolic if the new Japan Post Bank, the world's largest bank created as part of the privatization of the Japanese postal services, could take the lead and lend out the vast pool of its under-utilized postal savings? I think this is at least worth considering...
Catoneinutica wrote:Cautionary lessons for UK in Japan banking crisis
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article3419917.ece
Britain - at least in these early stages in its dealings with Northern Rock - appears to be turning Japanese. And if Mr Darling really is secretly committing Britain to the full horrors of the Japanese instruction manual, nationalisation of a collapsed lender is merely Chapter One in Japan's Bumper Book of Bankruptcy.
Sub-Prime Rate Problems hit 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 nose-dived.
Samurai Bank is soldiering on following sharp cutbacks, and Ninja Bank are reported to have taken a hit, but they remain 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.
Mitsubishi UFJ Financial Group Inc., Japan's largest bank by market value, offered $3 billion to gain full control of California's UnionBanCal Corp. as earnings growth slows at home. The Tokyo-based bank will pay 8.3 percent more than yesterday's closing price for the 35 percent of UnionBanCal's shares it doesn't already own, according to a statement today. Independent directors of the San-Francisco-based lender, who rejected a lower offer on April 26, have yet to respond. Swelling bad loans and declining profit in Japan is pushing the nation's banks to seek expansion overseas. Mitsubishi UFJ invested in five financial firms in Asia in the past two years while Mizuho Financial Group Inc.'s bought into Merrill Lynch & Co. and Sumitomo Mitsui Financial Group Inc. took a stake in Barclays Plc...more...
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