Poor English saved Japan banks from Lehman, subprime loans: minister

Japan's banks emerged from the 2008 global credit crisis largely unscathed because senior employees did not speak English well enough to have got them into trouble, the country's finance minister said yesterday.

Taro Aso, who also serves as deputy prime minister, said bankers in Japan had not been able to understand the complex financial instruments that were the undoing of major global players, so had not bought them.

via Business feed http://www.scmp.com/business/banking-finance/article/1271352/poor-english-saved-japan-banks-lehman-subprime-loans