Monday, November 12, 2007

The Yakuza responsible for the Japan property boom?

Blood ties: Yakuza daughter lifts lid on hidden hell of gangsters' families

I think when people are sifting through the rubble of UK PLC, we will find plenty of gangsters involved in mortgage fraud. We need to hold Estate Agents personally accountable. Yakuza income has shrunk along with the rest of the economy, but some groups have moved out of traditional business such as prostitution and loan-sharking into real estate. A government-funded study in the late-1990s found that as much as 42 per cent of bad loans from banks involved organised crime. Guardian Article on Shoko Tendo

Posted by lvmreader @ 04:18 AM (562 views)
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2 thoughts on “The Yakuza responsible for the Japan property boom?

  • JU, if I’m not mistaken, it is a common myth that the Yakuza are simple parasites in Japanese society. Their role is not that straightforward …

    Need to build a skyscraper, but having problems with pesky locals not wanting to leave? Hire the Yakuza.
    Irritated by a company’s lack of regard for their poisoned food products and want to disrupt their shareholders meetings? Hire the Yakuza.
    Having trouble getting someone to repay debts? Hire the Yakuza.
    Driving long distances with work and need something to help you stay awake? Hire the Yakuza.

    Drugs is their most profitable business. Prostitution second. The real estate stuff is difficult, costly and risky work for them. It’s risky because it brings them into much more contact with the public which is a problem. My understanding is that they’d much rather facilitate than mediate.

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  • Paul:

    Yes, things are much more complicated. The problem is they are quickly transforming themselves into ostensibly regular corporate bodies not staffed withscar face mobs but sober-looking businessmen, operating in a marginal areas between legal and illegal. You may wish to have a look at the website of Benjamin Fulford (ex Far East bureau cheif of the Forbes magazine (http://benjaminfulford.com/indexEnglish.html) who is to my knowledge the best authority on the subject.

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