Bankruptcy and villains
The Incubator Bank of Japan, a specialized bank so intended for small buisness loans filed for bankruptcy protecton Friday and it became the first case which will invoke the government's deposit protection scheme upto 10 million yen in principal plus interest accrued, for the first time.
It is reported there are 110,000 depositors who hold 586 billion yen ($6.99 billion) at the bank.
Definitely the bankruptcy is an another legacy of the collapse of the market fundamentalism and neocon government of the Prime Minsiter Koizumi and then Financial services Minister Takenaka, and further an aftermath of the conspiracies of the financial villains in Tokyo and manipulated from a foreign capitals of money markets.
The bank was established in 2004 by the initiiative of Kimura Takeshi who was arrested last month, a former Bank of Japan official and an advisor to hte Financial Administration Agency and bedcame President and Chairman in 2005. Several pictures can be found on the net which clearly shows the close relationship between Kimura and Takenaka when the latter run for the Upper House election in 2004 during the Koizumi government. .