In response to the global financial crisis, the US Government recently passed a bill for a $US700 billion bailout package which has left many on Wall Street smiling cautiously. But it seems that this good news has not had the desired flow-on effect as many pundits first thought:
Following the problems in the sub-prime lending market in America and the run on Northern Rock in the UK, uncertainty has now hit Japan.
In the last seven days, Origami Bank has folded, Sumo Bank has gone belly up and Bonsai Bank announced plans to cut some of its branches.
Yesterday, it was announced that Karaoke Bank is up for sale and will likely go for a song, while today shares in Kamikaze Bank were suspended after they nose-dived.
While Samurai Bank fell on its sword, Ninja Bank is reported to have taken a hit, but they remain in the black.
Furthermore, 500 staff at Karate Bank got the chop and analysts report that there is something fishy going on at Sushi Bank where it is feared that staff may get a raw deal.
Thanks to VikingIdiot for passing the buck on this one!
* For yet another summary on how the global financial crisis affects you, see Economics 101 - What the Global Meltdown Means.
0 comments:
Post a Comment