query.nytimes.com/gst/fullpage.h … A96E948260
And where are the Japanese in the rankings today
Top 50 Banks in the World
bankersalmanac.com/addcon/in … drank.aspx
Given Japan’s property crash and the subsequent lengthy low interest rate period, they must have loaned out huge amounts of money to banks all over the world who were looking for the best deal.
Essentially, we’ve been suckling away at Japanese engineering and technological know-how and now with this global credit-crunch, we’re not going to repay them!
The scale of this disaster we are facing is unprecedented: Japan is the world’s 2nd largest economy who have been loaning banks all over the world money at low interest rates. Couple this with America being the world’s number one economy and is essentially bankrupt (not to mention that Japan are heavily tied to the US dollar).
Thank God we’re in the Euro, we speak english and we can work in the UK/Europe without a work permit.