goldleaf
Super Member
In a Keiretsu, a bank does not serve the same role as they do here in the US. Like German banks, their boards are composed of people from the members of the "group" and they use the bank to coordinate and enforce the decisions of the group (by granting or withdrawing access to credit). In the past, MITI used to do this by controlling access to foreign reserves. They lost that power in the 80's.
Funny thing is, the wheel keeps getting reinvented. Just look at the way the Chinese government-owned/controlled firms are run. Same mechanism. Use access to credit and foreign reserves to make people toe the line. Such a foreign concept to Americans!
Funny thing is, the wheel keeps getting reinvented. Just look at the way the Chinese government-owned/controlled firms are run. Same mechanism. Use access to credit and foreign reserves to make people toe the line. Such a foreign concept to Americans!