The news is a bit old, but "Binky" Ishihara's masterpiece of incompetence, Shinginko Tokyo Bank, has been sinking into a cesspool of non-performing loans. It sort of seems like the loan officers were approving loans without much concern for the creditworthiness of the applicants. This is what used to happen back in the bubble days.
Blinky has denied any personal responsibility, but so far he has not blamed it on the Chinese, or the US, or other non-Japanese. He blamed it on the folks he picked to run the bank. How could it be his fault if they were idiots?
Anyway, in the face of public opposition---So?---the Tokyo Metropolitan ASSembly has approved a ￥40 billion bailout of the bank. Strangely, even small businesses which Blinky claimed the bank was to help say that it is "not useful." But WTF cares what the public thinks? Not Blinky. Not the Tokyo Metro ASS.
Interestingly, or not, Blinky has claimed to be a buddy of Dick Cheney. That could explain a lot, including the blinking. "Don't shoot Dicky. We are hunting peasants. Shoot them, not me." (Sorry, the birds are actually "pheasants." My error.)
Article here.
Friday, March 28, 2008
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