Word: financees
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Finance Minister Shoichi Nakagawa made the case for using public funds to stabilize the financial sector following similar moves by the U.S. and Europe. Japan's national banks are considered to be in much better shape than counterparts in the West. But after the recent failures of Yamato Life Insurance...
The Diet's ruling parties aim to pass the legislation this month. Nakagawa, the Finance Minister, says the law could include a new measure that would allow credit unions and credit associations with weak capital bases to apply for public funds.
Though it doesn't change the dismal bottom line, there is a difference between the current slide and the one that eviscerated markets last week. The earlier rout was caused by continuing fears that governments were not sufficiently committed to prevent the world's finance and banking sector from collapsing...
That isn't what markets vulnerable to American troubles want to hear, particularly the export-dependent economies of Asia, where concerns about a possible recession are compounded by doubts that the evolving, $2.2 trillion U.S. plan to bail out its finance and banking system will prove effective. For those reasons...
I'm shocked you would place so little blame on the people who borrowed more money on their homes than they could possibly pay back. I agree that the lenders were silly and that Congress should not have strongly encouraged such lending. Yet people effectively became speculators in home values...