Who is Japan’s little known rice growin’
financial hotshot?

The UK has it’s first bank run in 150 years. Citibank fired it’s CEO. The whole financial world is reeling from the financial mess called subprime (see here for our easy to understand footnote on subprime).

Even GM (last I checked they made cars and not houses!) has been forced to book a multi-billion dollar loss due to subprime. While hedge fund managers are collapsing left, right and centre, could there possibly be a Saviour? What’s that I see on the horizon? Is it a bird? Is it a plane? No… it’s a Japanese farmer!???

This sort of turmoil in the international financial market is unusual. In July Ben Bernanke, head of the US Fed, saw subprime losses reaching $100 billion US dollars. By early October, most market watchers had increased this figure to $400 billion US dollars. And with yet another collapse in asset backed securities (ABS) prices in the last few weeks, the growth in the turmoil seems to be growing again. Continue reading Japanese Farmers and Subprime: Would the real farmer please stand up? →