Japanese Banks Pop with Dollar Bubble

February 1, 2008 (LPAC)--Japan's six largest banking groups reported quarterly losses, attributed to the U.S. hyperinflationary mortgage bubble of 529 billion yen at the end of the December, a 4.6-fold jump from 115 billion yen at the end of September. Other mid-sized banks also reported losses, along with manufacturer Canon, in all products. December is the end of the third quarter in Japan; the investment year ends in April.