This from Japan might be a forerunner of things we might see in North America. A Foreign bank (French) involved in manufacturing information, based on insider information to improve a stock price.
With the predicted problems in commercial real estate to come, there will be increased pressure on banks with such investments.
焦点:破たんのアーバン増資に批判、金融庁もパリバをヒアリング
BNP Paribas suspected of making false report on Urban Corp. deal+
TOKYO, May 8 (AP) – (Kyodo)—The Japanese unit of France’s BNP Paribas is suspected to have made a false report to the Financial Services Agency regarding trading of shares in Urban Corp., a now failed Japanese property developer, sources close to the matter said Friday.
Researched by Nobuyo Henderson
