Gov't to control up to 76% of TEPCO voting rights

Nothing has really changed, has it? :-(

Oh, great! The blind leading the visually impaired!

Isn't this the same government that let TEPCO get away with ignoring all the safety reviews in the first place?

Banzai (!) Japan's national debt goes up by Y1 trillion and likely to go further up due to TEPCO.

TEPCO is a money vacuum.

Given politicians ties to the nuclear industry up to and including now, this is not all that comforting.

Isn't TEPCO just going to pay off the government for their votes? TEPCO keeps getting paid and now the government gets paid more?

Gov't to control up to 76% of TEPCO voting rights

Whatever....! What the people expect is that now government can smoothly handle compensation claims, resettlements, cleaning up and winding up nuke business. They do not want a return to nuke electricity as it is risky, dirty, expensive and environmentally bad. They do not even trust government to ensure safety and security of nukes.

Too bad Japan is ruled by bureaucrats who, instead of being elected, are paid and bought by Tepco. So yeah, nothing will change. The light at the end of this particular tunnel is the headlight of a train.

I wish I could find something positive in this report, but I see the headline as TEPCO Nationalized: The "decent from heaven" becomes "heaven" itself. Does anyone else out there feel that TEPCO will now simply become an "Amakudari Tengoku" without any improvement in oversight or control? Is anyone else out there curious about just who is profiting from this massive exchange of one trillion yen of preferred stock? Why aren't more people upset about this "backroom deal" to keep the rich and powerful, rich and powerful, without any concern for the public good. I know, I know, I am so naive...

The government must use its direct control of TEPCO to change the corporate culture of ignoring safety issues for the sake of a quick buck. It must not allow the company to continue with business as usual by staying at arm's length from the way the company is run.

Put safety first, profits second, and allow for more independent appraisal of the safety of its plants. Clean up management. Hire nuclear safety experts to make an inquiry into the company and keep them in the company hierarchy... Ideally include foreign experts, or at least experts not already embedded in Japan's nuclear industry, so they won't be afraid to point our problems.

Does this mean that I, as a non-voting foreigner tax payer, am now liable for 76% of TEPCO's liability for their ineptitude and short-sightedness?

Too little, WAAAAAAAAAAAAYYYYYY too late...

I feel much safer now that the incompetent fools of TEPCO are being replaced by competent government officials. NOT!