Japanese banks have quite managed their finances problems,. the woes at the moment affecting US wont seem to affect Japan
Interesting article. Everyone here who doubts the truth of this should think again. Why do you think the municipal bond market in this country has dried up? Wall St. shot themselves in the foot with subprime CDO's. Foreign banks and pension funds bought lots of this debt. Now, they are on the hook for tremndous losses. Naturally, when Walls st. calls to sell them new debt, they are hanging up on them. They may still buy treasury debt, but structured loans from Wall St. may be a hard sell for some time to come. I just hope we don't need any new bridges or roads for a while. Thanks Wall St.
Or here is a thought. Local and state governments could start paying for their projects as they go. I for one, would like to see all government debt reduced drastically.