Thursday, August 9, 2007

The Japanese experience of holding large losses as opposed to taking a hit and moving on was a direct cause of the Japanese malaise,” said Josh Rosner, co-author of the report and a managing director at Graham Fisher, an investment research firm in New Yo

Hidden U.S. subprime losses may mirror Japan bank crisis

Investors and banks holding on to U.S. subprime mortgage bonds in hopes of a recovery in value may make losses worse, mirroring the Japanese banking crisis in the 1990s, according to authors of a new report. The Japanese banking crisis, triggered in the early 1990s by a slumping property market and brokerage collapses, led to a decade-long credit crunch. The government subsequently had to step in to stabilize the banking system by injecting public money into top banks

Posted by chris :-)) @ 04:38 AM (370 views)
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