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Toshiba's U.S. nuclear business loss may be as much as $6.1 billionBy Yoshiyasu Shida and Deborah M. Todd TOKYO
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Since the decision to buy the indebted US company was made by an American.
One wonders if he was planted into Toshiba to arrange this deal so this company's huge debt could simply be offloaded onto the Japanese.
If/when Toshiba is deemed too big to fail, how much will it cost us?
This article raises more questions than it answers. When did Toshiba get into the US market? Why did it do so? What went wrong to make it accrue so much in losses? What are the prospects for the future?
I know that after the Fukushima disaster, both nuclear reactors here in California were closed down. Unfortunately, closing them down does not make the radiation problem go away. There is no safe place off site to store the nuclear material, so much of it is still on site. That is the story with nuclear reactors all across the US.....with no where to store the spent nuclear rods, they are now stored on site. Not to worry; what could go wrong? Earthquakes? Tidal waves? Tornadoes? Hurricanes? Floods? Nah, those things never happen, not in a billion years, which is still not long enough for the nuclear material to become safe.
It looks like Toshiba got tricked into buying a 6 billion dollar pile of debt.
This was fraud.