The knock on effect from the US sub-prime fiasco is being severely felt in the Japanese market and shows no sign of letting up. In the last seven days Origami Bank has folded, Sumo Bank has gone belly up and Bonsai Bank has announced plans to cutback some of its branches. Yesterday it was annoounced that Karaoke Bank is up for sale and more than likely will go for a song.
Today shares in Kamikaze Bank were suspended after they nose-dived and 500 back office staff at Karate Bank also got the chop. Analysts report that there is something fishy going on at Sushi Bank and the staff fear they may get a raw deal
Thanks go to Enid Young (Balmore) for that one
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