Word: moneyed
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Dates: during 1980-1989
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...politics can become only so boring before it ceases to exist at all. Last week Los Angeles held an election and almost no one came -- only 23% of the voters turned out. Bradley does not need charisma to attract money; the bankers and developers in Los Angeles have wallets as fat as Michael J. Fox's. But politicians do need to inspire people, or at least keep them awake, if they are to lead as well...
...Noboru Takeshita faced his challengers in the Diet. The embattled Japanese leader made a series of extraordinary admissions to a special session of the Diet budget committee. Last October Takeshita flatly denied any connection to the burgeoning scandal that has linked dozens of Japanese politicians and bureaucrats to a money-and-favor game played by the Recruit Co., a $3.25 billion information-and-real-estate conglomerate. But last week Takeshita conceded that over the years he and others close to him received nearly $1 million from Recruit. Referring to his October disclaimer, Takeshita pleaded a faulty memory: "I probably...
...Japan, the Recruit scandal is raising profound questions about kinken- seiji, or money politics, and the way Japan conducts its public business. On one level the issue is simple bribery. Recruit's mercurial founder, Hiromasa Ezoe, 52, nine other businessmen and three officials of the Labor and Education ministries have been arrested for alleged bribery or violation of securities law (so far no charges have been filed against any elected politician). But on another level the question is whether Japanese politics is so blatantly suffused with the passing of cash that it is practically impossible for officeholders to avoid...
Recruit was founded as an advertising-sales agency by Ezoe in 1960 with an investment of $2,000. Acting in accordance with his favorite slogan, "Money Comes First in This World," Ezoe built the three-man shop into a corporate behemoth, branching into real estate, supercomputers and restaurant and hotel management as well as a variety of information services. Stock in the expanding conglomerate was closely held until October 1986, when shares in its real estate subsidiary, Recruit Cosmos, were publicly listed on Tokyo's over- the-counter market. Those shares became a new and virtually cost-free vehicle...
...about $4,200 a month on an average of seven weddings and 27 funerals. Thus, despite the call by Takeshita and others for campaign-financing reform, University of Tokyo political scientist Takashi Inoguchi remains pessimistic. Says he: "How can we carry out reforms when even the voters are getting money...