Japanese Knock-on (Knock-off, Knock-Knock) Effect

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Monday, 22 September 2008

The knock-on effect from the US sub-prime market shows no sign of letting up in Japan.

In the last 7 days Origami Bank has folded, Sumo Bank has gone belly up and Bonsai bank announced plans to cut some of its branches.

Yesterday it was announced that Karaoke Bank is up for sale and will likely go for a song while today shares in Kamikaze bank were suspended after they nose-dived, and a further 500 back office staff at Karate Bank got the chop.

Analysts report that there is something fishy going on at Sushi bank and staff fear they could get a raw deal...

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