As elucidated by Prof. Raghuram Rajan8, “easy credit” as a response to bridge the gap between the haves and the have-nevers could prove to be a  6  “Financial Access and Financial Stability” – Paper written by P. Hawkins, FEASibility Limited South Africa for BIS (2010). 7  Collard, S. and Kempson, E. (2005), Affordable Credit: The Way Forward, York: Joseph Rowntree Foundation.
In my view, this was cause for concern that these firms might not be sufficiently prepared to deal with the given situation. Indeed, there was a risk that corporate financing in Japan would be under a significant amount of stress in the form of, for example, an expansion of issuance spreads for CP and corporate bonds.