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Burst building bubble blows bad-guys' bid-rigging business

September 21, 2007

Tags Booms and Busts

Even organized crime is feeling the pinch from the rapidly deflating housing bubble. According to a Jane's Security News brief:

Shooting match: Gang-related killings surge in Japan
Japan witnessed an upsurge in gang-related shootings in the first half of 2007. The violence is a result of organised crime syndicates seeking new ways to generate income as traditional revenue sources from bid-rigging in the construction industry dry up. [first posted to http://jir.janes.com - 18 September 2007]

Of course, the official bandits have yet to lay off of the printing presses, and the vast majority of their victims aren't criminals at all.

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