November 2002
Takenaka gets Godzilla treatment
Japan
|
|
Godzilla:
economy minister Takenaka
is being likened to the monster after
a mauling from Japan¡¦s
bankers
|
After all the bickering, temper tantrums, threats of legal
suits and raised hopes for solutions to Japan's banking and
economic troubles, minister for economy and financial services
Heizo Takenaka has finally released plans to revitalize banking and
the economy.
Despite Takenaka's brave attempts to get tough and include
strong measures in the latest recovery package, he failed,
producing what many are calling a weak, watered-down compromise. It
seems that for now the old establishment and conservative Japanese
bankers have got their way yet again.
"The guys who run these banks are terrible at making loans but
very good at sensing when their own self-interest is about to be
affected," says an economist in Tokyo. "They've been jumping all
over Takenaka like he was Godzilla walking out of Tokyo Bay." So
while Takenaka calls his plan a good...
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