Japan's top four banks decline government aid | SCMP
Submitted by loner on 27 October, 2008 - 1:13pm
Officials from Japan's top four banks yesterday told parliament they did not need government help to restore their financial health but their words fell on deaf ears as nervous investors sold off selected bank shares.
The heads of the big banks lined up at a meeting of a parliamentary finance committee to explain the action they were taking to restore their balance sheets and defend their independence.
The president of the second-largest bank, Sumitomo Mitsui, Yoshifumi Nishikawa, said it should not be up to public agencies to determine which borrowers were viable or not, a role they could have under the reforms. more
What did I say then?
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