Jesse's Café Américain Sun 2009-09-13 12:32 EDT
Japan: The Triumph of Crony Corporatism Over the Individual
The former Japanese Central Banker Toshiro Muto says that '"in principle equity values should be set by the market and authorities should avoid manipulating prices because doing so would hurt the stock market's reputation." Apparently in this case 'in principle' means 'theoretically, as is convenient," because Mr. Muto goes on to recommend that the Japanese Central Bank and government throw principles aside and buy stocks to support the Japanese banking cartel, which has crippled that country for the past fifteen to twenty years.
crony corporatism; individual; Japan; Jesse's Café Américain; triumph.