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Japan to propose bailout fund at G-7 summit on financial crisis

18 Comments

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18 Comments
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How about stop lending people money based on over inflated stock value as security?

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700 billion dollar tax payer congress bailout, buy up of banks and IMF can fix this thing.

US government,IMF and other rich nations, needs to get moving to solve woes like they did with asian financial crisis 1997 in thailand,indonesia and south korea.

Global finance/trade systems are not perfect, they had to be corrected in all nations.

It is trial and error experiment until perfection by all nations.

More reserch needs to be done on this ongoing crisis,to prevent a repeat of this crisis.

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Ummm... yeah... let's give more loans to cover bad loans, and hope those countries don't default on them. Sounds like the same kind of gamble that's led to this crisis in the first place.

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Japan never fixed its bad debt crisis of the 90s - their banks still carry those bad loan as assets - their situation is actually worse than Americas. The only reason they are able to hide this fact is with the huge level of domestic savings.

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Seems that each of the G7 leaders is trying to posture as the one with the solution for domestic political benefit.

Let's hope the Chinese can help us out, they are the only ones left with any cash after the deregulation debacle in the USA

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It took a decade for Japan's economy to recover. Listen up!

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wake up world!!! This is not just about fat cats in Wall Street. Construction firms are already failing because they usually buy materials on credit, who is going to lend to small start ups? Plus have you evaluated your pension recently? Pretty much unless you are a civil servant you are probably deeply impacted already.

The public can help too - what is the point in selling at a huge loss? The markets will bounce - they have too - so hang in there (my opinion as I am not qualified to give advice on that)

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Huge level of domestic savings is the source of cash in Japan's banks?? Go figure. Wages in Japan have been stagnant for ten years, pensions are not sound, and consumers will not spend. How did domestic savings fill bank coffers in Japan??

There is a great myth floating throughout the financial world now: Japan is sitting on a mountain of cash. Horse hockey! The source of this myth is probably the same people who blew off the pension mess and tainted rice scandal. They now are saying the Yamato insurance bankruptcy is unique.

As Japan's export driven economy tanks, let's see just how strong those Japanese banks really are.

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As Japan's export driven economy tanks, let's see just how strong those Japanese banks really are.

Origami Bank will fold, Sumo Bank will go belly up and Bonsai Bank will cut some of its branches.

Karaoke Bank is for sale and will likely go for a song, and shares in Kamikaze Bank will be suspended because their pilot rescue plan crashed.

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Big help is expected from the only country which CAN'T lower it's interest rate.

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Tuesday is going to be fun on the trading floor.

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It took a decade for Japan's economy to recover. Listen up!

At the cost of not only tax payers huge money but also half a million suicides till date.

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TokyoVp - Japanese househoulds have huge amounts of money in savings accounts. You are not aware of this?

As I said earlier, banks have squandered much of this money. It only exists on paper.

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I see...Japanese workers do not need a pay raise since they are sitting on "huge amount of savings" in banks. They are working their collective asses off for the good of the country, sitting on a mountain of cash and do not need to be paid for over-time work. And the Japanese pension system is a safe as the trust you have in the government...and in bank statements.

The myth of rich Japanese/Japanese banks is just as bad as the myth of Wall Street arbitrage as a sound investment.

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TokyoVp - what are you talking about?

Who said they don't need to be paid for overtime? Who said the pension system is safe? Who said they trusted the government?

I agree Japanese banks are in a mess. I agree the "rich Japanese" idea is myth.

Did you actually read what i wrote before you started ranting?

All I said was Japanese keep their assets as savings - which is why Japanese banks have been able to hide their losses.

do a quick search on japanese household savings.

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Who is reporting the level of household savings? Banks?

Who can trust information from Japanese banks that denied bad loans for years?

My point was that most Japanese have no faith in the pension system, nor the companies, government or unions. If you can not trust the government to keep your pension from corruption, then why should you trust banks to keep household savings safe and sound? Japanese banks were near collapse only seven years ago. If you believe "rich Japan" is a myth, then why do you believe reports on massive household savings??

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ask a japanese person how much money they have in the bank

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Japanese banks were near collapse only seven years ago.

There was intervention in this about 9 years ago, and it didn't come from w/in Japan. A few Japanese bureaucrats probably saw this as a "kamikaze".

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