Re: Japan

[Ellen Frank]

[EMAIL PROTECTED] writes:
>Ellen Frank wrote:
>
>>First, most of the Japanese banks are insolvent
>>by US standards
>
>So the government should buy their worst loans and hive off the 
>less-bad stuff and sell it to vultures. They could do it without 
>disturbing the class structure significantly. How can a capitalist 
>class sustain itself over the long term if it's not accumulating any 
>capital?
>
That's the question.  I don't claim to understand why
the Japanese political system is stalemated, but apparently
it is.  They don't want the vultures in control, but they
don't seem to know how to get out of this mess.