The Daiwa Scandal: Blaming The Regulators

Daiwa Bank's jailed bond trader says U.S. and Japanese watchdogs were asleep

It's unusual for Japanese miscreants to pen kiss-and-tell volumes. But Toshihide Iguchi is dishing out his version of how his illicit trading cost Daiwa Bank Ltd. $1.1 billion, how the bank covered up the affair and got thrown out of America, and how he was caught and sentenced to four years in prison in the U.S.

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