Wednesday, Aug 08, 2007
In Japan, the banks — among them two of the 10 biggest in the world — have been reeling for the better part of a decade, weighed down by an ever-accumulating pile of uncollectible debts. Analysts fret that it is impossible to discern a true picture of the
http://www.iht.com: Investor Beware:The Next Enron May Be Lurking in Europe or Japan
LONDON: While American business practices have come under scrutiny in the wake of the Enron scandal, international accounting experts stress that Europe and Asia are no strangers to questionable bookkeeping and corporate meltdown.
Litigation continues over accounting practices that are alleged to have contributed to the downfall of the venerable British banking institution Barings, and Enron's debacle harks back to the near-collapse of a giant German trading company brought to its knees after a disastrous foray into the oil futures market a decade ago.
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