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JAPAN UFJ FALLS ON BAD LOAN REPORT

"A weekend report in the Tokyo Shimbun said that UFJ will increase its loan loss charges by 300 billion yen ($2.8 billion) from its original estimate of 500 billion yen, after an inspection by the Financial Services Agency, Japan's banking watchdog, found an additional 1 trillion yen which needed to be reclassified as bad debt."

This is only the tip of one big malignant iceberg. No one has any true idea of the vastness of these secret debts.