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FSA begins inspection of bad loan-ridden Shinginko Tokyo

Friday 16th May, 02:10 PM JST

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2 Comments

  • borscht at 06:06 PM JST - 16th May

    which provided loans mainly to smaller companies without requiring borrowers to put up collateral or obliging them to find guarantors, has seen many of its loans go sour

    There's a bit of a surprise, don't ya think? I wonder how much of that 100 billion has ended up in the pockets of people related to someone named Ishihara.

  • yabits at 06:24 AM JST - 17th May

    The "metropolitan government" of Tokyo launched the bank in 2005. This means the taxpayers of Tokyo were thrust into the banking business, does it not? And did they get the kind of professional oversight needed to run a bank competently? Apparently not. Take away the window dressing and it appears that the taxpayers were put into a scheme to provide welfare to small companies. And, because the businesses were not asked to put up collateral, the taxpayers get nothing in return??!! What a scam.

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