Word: pensione
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...OZAWA: We have already come up with a timetable for actions to be taken after we take power. But the general election has been delayed again and again and again, and so we have not disclosed our timetable yet. As for specific issues - for example pension reforms and medical insurance reforms and employment issues - of course we have to deal with those. However, more important is that we have to make fundamental reform in the current government system, in which the government is led primarily by the bureaucracy. We have to replace this with a system in which the politicians...
...TIME: Is the answer to go back to the traditional Japanese conception of lifelong employment, or is it to create a genuine social safety net with a reformed pension system and reformed medical care system...
...Thomas Jefferson found himself buried under crippling debts; James Monroe died destitute; and Ulysses S. Grant, scammed by a Wall Street grifter and battling cancer, hawked his memoirs to Mark Twain to keep his family afloat. Not until 1958 did the Former Presidents Act award ex--Chief Executives a pension and staff...
...comes from such debt securities, according to the FDIC. At the most troubled of the big banks, Citigroup, the figure is 27%. (Citi's domestic depositors account for just 16% - its main deposit base is overseas.) These bank bonds are mostly in the hands of large, sophisticated institutional investors - pension funds, insurance companies, mutual funds. It may be too much to ask small depositors to monitor the risks at the banks where they put their money and pay for getting it wrong. But these bond buyers are pros. If there is to be any market discipline of risk-taking...
...something more than exhortation is needed. "We have to give a sense of security to the population," he says. That implies, given the demographic challenge, real reform of health care and retirement benefits. Even the younger generation, Ozawa says, are "worried that they will not be entitled to any pension benefits." Koll reinforces the point. "Anything that you can do to assure the Japanese people that their retirement future is provided for," he says, "is going to go a long, long way in boosting the economy where it needs it, in domestic demand...