Word: ripplewood
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Dates: during 2001-2001
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...What could help is a flood of foreign investment. Japan has been notoriously resistant to outsiders and their bucks, but recently it has even allowed American vulture capital firms like Ripplewood to swoop in and pick apart its failed institutions. The next step, say investors, is legislation that insists local companies hew to greater accounting transparency. In Japan, corporations don't have to air all their dirty financial laundry to shareholders, as they do in the U.S.; a money-losing division can be hidden away as a "subsidiary" and assets can be listed at inflated values. A hint of change...