Saving the sun
Subtitle: a Wall Street gamble to rescue Japan from its trillion-dollar meltdown
By: Gillian Tett
Publisher: HarperBusiness
Published: 2003
Place of publication: New York
Language: eng
Number of pages: 337
Subjects: Financial crises -- Japan; Bank failures -- Japan; Financial institutions -- Japan; Structural adjustment (Economic policy) -- Japan; Japan -- Economic policy -- 1989-
Description: "Saving the Sun tells the story of Long Term Credit Bank, one of the nation's most respected financial institutions, and its attempts to transform itself into a Western-style bank. Through the stories of three extraordinary men, former Financial Times Tokyo bureau chief Gillian Tett brings to life the bank's long struggle to regain its financial health. In the process, she shines a light into the secretive world of Japanese banking where business is done in sex bars and gangsters lurk behind the scenes. And, in a fast-paced narrative. Tett chronicles the internal conflicts between reform-minded and tradition-bound factions within the bank, as well as the powerful and protective Japanese bureaucracy."

"What emerges is the first viable explanation of what caused Japan to stumble from such economic heights - readers will finally understand what has hobbled that country. But what also emerges is the realization that a profound rift still exists between Japan and the rest of the world. Though Long Term Credit Bank's transformation into Shinsei bank had been a rousing success in financial terms, the Japanese press, government, and people have all but turned against the idea of American-style capitalism. Indeed, instead of reforming Japan, the banking crisis may have convinced ordinary Japanese, more than ever before, that they must go it alone."--Jacket.
Notes: Includes bibliographical references (p. [317]-320) and index