[Centurion2000]

That’s US$6 billion for all Japanese banks. That’s chump change. Unless there is a lot more hidden (always a possibility) looks as if Japan dodged a bullet.

I really have to wonder if Middle Eastern oil money or chinese investements were exposed in this setup.

[bruinbirdman]

"I really have to wonder if Middle Eastern oil money or chinese investements were exposed in this setup. "

Bank of China's subprime exposure reported to hurt 2007 earnings.

"Bank of China disclosed in August it held US$9.65 billion in subprime backed securities, but trimmed the amount to US$7.95 billion in the third quarter and set aside US$322 million for potential losses. . . ."

But then, I really trust when ChiComs' report on themselves. They are so well known for transparency when they say they will use capitalism to destroy the free enterprise system.

yitbos

[Roy Tucker]

The big Chinese commercial banks have fessed up to around $15 billion of subprime sludge, so far. I am sure there is more. What goes unreported is what the PBOC (their central bank) is holding because this subprime and SIV (enhanced yield stuff)paper is exactly the sort of investment they did like.

I don’t know if it’ll ever come out, but interesting to see.