Japan ready to bail out banks

JAPAN - Japan's central bank stands ready to bail out the country's ailing banks - but only in the event of a crisis.

The Bank of Japan's governor, Masaru Hayami, crew comparisons to the situation of 3-4 years ago, when a meltdown in banking stocks - triggered by malpractice and bad debts - destroyed Yamaichi Securities.

That would not happen again, Mr Hayami said. "In the event of an unforeseen situation, we are fully prepared to help," he said. "We now have a safety net in place to help firms