Banking misery engulfs Japan

 

Until recently Japanese banks had largely avoided agonies of the credit crunch. Now the misery has come to Tokyo

 

The Japanese banking sector, once considered a safe port in the global deleveraging typhoon, has begun to crumble in the face of stock market crashes and the destructive unwinding of the yen carry trade

 

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article5032381.ece