Capital raising by Japan banks 'could lead to crisis' | FT
Submitted by loner on 13 February, 2003 - 8:29pm
Moves by Japan's largest banks to raise capital by selling preferred securities to companies with which they maintain close relations increase the risk of a systemic banking crisis, Standard & Poor's, the credit rating agency, said yesterday.
Takahira Ogawa, director of Asia-Pacific sovereign ratings, said that growing financial interdependency between banks, life assurers and corporations meant an external or internal shock could trigger domino-like economic consequences. more from FT
What did I say then?
CCB's former chairman jailed for 15 years (5 years 13 weeks ago):
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