Every time the expression “hot pot without panties” is repeated in the Japanese media these days, the reputation of Japan’s ministry of finance goes down a notch. Visits by MoF officials to the Lo Lan Chinese restaurant in Shinjuku, an entertainment district in Tokyo, were one small part of disclosures of unhealthy links between the MoF and the Japanese financial industry earlier this year.
All the same, allegations that Koichi Miyagawa, the MoF’s chief bank inspector had spent some time with the ladies at Lo Lan – known in Japanese financial circles for their willingness to remove their underwear for a ¥10,000 ($80) tip – were to have far-reaching consequences.
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