Run on Yamaichi Securities and forced BoJ rescue

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• Princes of the Yen whole source · open book

  As small investors pulled their money out of the market, the fourth biggest broker, Yamaichi Securities, experienced a run by its customers. Finance Minister Kakuei Tanaka was quick to take appropriate action. He went straight to the Bank of Japan and demanded unlimited credit for Yamaichi Securities and an increase in credit creation for the economy.

  chapter: 6. The First Bid for Central Bank Independence

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• Richard Werner author of the source

Appears in 3 stories

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• Princes of the Yen: Japan built, bubbled, and broken step 111

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