November 10, 2002
From the desk of Jane Galt:Ouch! The Japanese Financial Services
Ouch! The Japanese Financial Services Agency just reported that it believes Japan's bad loans are understate by $109 billion.
At the same time, the agency said that the banks have insufficient reserves to cover even the bad loans they're reporting.
On the up side, their mobile phones are much cooler than ours.
Posted by Jane Galt at November 10, 2002 05:17 PM | TrackBack | Technorati inbound links