ItÆs looking like a replay of many of the events that happened in Japan. Take the example a few weeks ago, during the G-7 meeting in Tokyo, when the Japanese finance minister advised the US treasury secretary to carry out immediate capital injections to the US banks. Paulson couldnÆt commit himself û similar to Japan in the 1990s, when public opinion was very strongly against bailing out highly-paid bankers and irresponsible banks. Recall also that in 1992, then-Prime Minister Miyazawa wanted to help the banking system with public funds, but was slammed by the public. As a result, it became taboo...
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