If there’s ever been a better reason to begin or renew your subscription to Euromoney, this is it. We’re told that the Bank of Japan only found out about Yamaichi’s off-balance-sheet losses the Saturday before the securities house went into liquidation last month.
Yet back in May 1995 our then Asia editor, Tony Shale, penned an article entitled And then there were three… (Market Monitor, pages 8 and 9), in which he detailed the very problems which have since caused Yamaichi’s downfall.
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