1988: Japan's Banks: Top 10 in Deposits

[Green_Bear]

‘‘It is shocking how fast Japanese banks have come up to dominate the banking industry,’’ said William M. Isaac, former chairman of the Federal Deposit Insurance Corporation who is head of the Secura Group, a financial consulting firm. He said the growth of the Japanese banks reflected ‘‘a fundamental change in the competitiveness of the two systems.’’

Experts like Mr. Isaac voiced concern that the United States banks dropped in the rankings at least in part from the geographic and product restrictions that continue to be placed by law on their operations. Prospect of Action in Congress

Some predicted that in the end this kind of competitive change would spur Congress and state legislatures to permit banks to enter new businesses, like securities underwriting, and eliminate all geographic barriers.

Japan’s Banks: Top 10 in Deposits
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

[CelloPoint]

@Green Bear

‘‘It is shocking how fast Japanese banks have come up to dominate the banking industry,’’ said William M. Isaac, former chairman of the Federal Deposit Insurance Corporation who is head of the Secura Group, a financial consulting firm. He said the growth of the Japanese banks reflected ‘‘a fundamental change in the competitiveness of the two systems.’’

Experts like Mr. Isaac voiced concern that the United States banks dropped in the rankings at least in part from the geographic and product restrictions that continue to be placed by law on their operations. Prospect of Action in Congress

Some predicted that in the end this kind of competitive change would spur Congress and state legislatures to permit banks to enter new businesses, like securities underwriting, and eliminate all geographic barriers.

Japan’s Banks: Top 10 in Deposits

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.