Roots of Trouble

Kelly, Tim
April 2009
Forbes Asia;4/13/2009, Vol. 5 Issue 6, p31
The article reports on Norinchukin Bank, the central lender for thousands of farming, fishing and forestry cooperatives in Japan. Hirofumi Ueno, who retired from his job as the top bureaucrat at Japan's agriculture ministry in 2000 and joined the bank as chief executive officer, left the bank on April 1, 2009. As reported, the bank and his successor, Yoshio Kono, are suffering investment losses from huge and ill-timed purchases of securitized U.S. mortgages and loans.


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