Wednesday February 15, 2012

JAPAN NEWS AND DISCUSSION

Lessons for U.S. from Japan's debt crisis

Commentary Oct. 01, 2008 - 05:10AM JST ( 9 )

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9 Comments

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SargeOct. 01, 2008 - 10:46AM JST

I agree with Rep. Mike Rodgers, R-Mich:

"Despite days of negotiating, this is still the same bailout bill, written by a Wall Street guy with a Wall Street solution to a problem created by Wall Street. This bill was still a blank check to Henry Paulson."
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memyselfIOct. 01, 2008 - 03:52PM JST

Gambling at a pachinko parlor, is just like gambling your money away at investment firms. Sooner or later your gone bust. Hiding your life savings under a foton or matress is the best way to go now. Placing your life saving with greedy, money hungry evil vampire like corporate CEO's is a surfire way of crying on your knees and begging for mercy. Many middle class people or between the poor & middle class is suffering now. The F.B.I. need to investigate these firms, acutally that began 6 months ago.This is another form of mafia. Corporate mafia strongarm or muscling the little guy. there was plenty of debate over “moral hazard“—using public money to rescue reckless financial institutions. Just another form of racketeering
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memyselfIOct. 01, 2008 - 04:01PM JST

Japan needs to invent robots or super computers with superb A.I. Let's take the human equation out. This will happen again, history always repeats itself. Let's give robots a chance,the lack of transparency in Japan’s financial system exacerbated the problem, analysts say, as many financial institutions hid the bad debts. Japan at that time even lacked a system to deal with bankruptcies that is the equivalent of Chapter 11 in the U.S. Hey this wouldn't happen if robots was in charge of our finacial system. Please do not take my comment so seriously, greedy thieves in suits will go after me for mentioning this.
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DeepAir65Oct. 02, 2008 - 08:41AM JST

How about some original journalism - a similar article was on the BBC but it has now disappeared into the archives.

All those people in the US and elsewhere moaning about the fat cats - they are a minority. What is going to happen to your pension? What is going to happen when banks can't/won't give you a loan for your small business? etc etc

And anyone that complained about SOX is going to find that a dream after the legislation that will follow this.

Do I like that fact that tax payers money will go to rescue banks? No. But, honestly, what are the alternatives?

The Chinese politbureau or whatever it is called must be wetting themselves with laughter!
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blackbaggerOct. 02, 2008 - 11:47AM JST

This article makes the assumption that a quick bailout will actually do more to help than hurt, which I don't think is necessarily the case. Yes, the Japanese governmnet took too long to act, but even after they moved to save dying banks the Japanese economy still floundered for another decade.

I don't think it should be the American taxpayers' responsibility to foot the bill for a bunch of overzealous wall street gamblers' misfortunes.
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NessieOct. 02, 2008 - 12:57PM JST

We won't know which response was savvier for at least another ten years.
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jbro888Oct. 02, 2008 - 03:34PM JST

good call nessie
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AlphaapeOct. 03, 2008 - 10:51PM JST

I know that everyone (political pundits) are saying the bailout is good for America, but I heard one commentator say that "Capitalism without Bankruptcy is like the Christian religion without a Hell." There has to be some method for the markets to self regulate themselves and keep the field fair, or they could face the consequences like they are now.

I don't think it is my responsibility to foot the bill for excess on Wall Street. I realize that financing is way too connected, but if business can't borrow, then they lay off. If the borrowing for business that have not overextended themselves but paid by the rules are cut, I think that the banks are only hurting themselves. What good is it for them to hold on to the money if no one can use it to move it around in the economy.
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teaabeOct. 12, 2008 - 07:21AM JST

it's a casino. gamblers lose it all, but they'll still play the game. boom or bust.