Banker Falls On Sword

The scandal surrounding a Bank of Japan-led $1.98 billion bailout of two busted credit cooperatives has claimed its first victim: Tetsuya Horie, president of Long-Term Credit Bank of Japan, a leading commercial bank. Horie resigned on Mar. 31 to take responsibility for LTCB's tangled financial ties to Tokyo Kyowa Credit Assn. and Anzen Credit Assn. The two co-ops got in trouble after lending big to political figures.

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