Japanese Banks Hold $12 Billion in Subprime Assets

0 Comments Published November 23rd, 2007 in Banks.

Japan’s National Finance Minister said that as of September 30th, the country’s banks held $12 billion in subprime investments. Japanese banking stocks are down some 31% this year. Even with the seemingly large amount, it is nothing compared to the total amount of subprime loan losses which could reach $300 billion.

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This blog discusses subprime mortgage problems. Subprime problems began when lenders offered loans to potential home owners with bad credit or credit / income that did not meet the standards of traditional lending. Subprime mortgages for people with bad credit or no credit face an uncertain future. Once the hope of many to enter into home ownership has now been corrupted both by overreaching consumers and predatory lenders. I hope to follow the aftermath of this crisis.

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Japanese Banks Hold $12 Billion in Subprime Assets

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