Japan's Shinsei Bank

In Steven Vogel's "Japan Remodeled: How Government and Industry are reforming Japanese Capitalism", the case study of Shinsei Bank makes for interesting reading.

Despite pressure from the authorities, the bank refused to grant credit or roll over credit to troubled borrowers. It also got rid of lousy corporate clients. These moves were generally seen as being in line with market principles. But in Japan, Shinsei's brand of common sense was said to have "blatantly violated standard norms and practices".

The bank had also reportedly infuriated government officials, unnerved its own employees and alienated many potential business partners.

Sounds tough being a maverick in Japan, which is sometimes synonymous with being a pariah?