why does it have to be "taxpayer's money"? why can't the Japanese government run a deficit to bail out the banks? the Keynesian stimulus of a deficit seems needed anyway. Much of that stimulus will leak out to benefit the rest of the world's economy, but isn't that needed?
of course, this is heresy, from the IMF's perspective.
------------------------
Jim Devine jdevine@xxxxxxx & http://bellarmine.lmu.edu/~jdevine
> -----Original Message-----
> From: pms [mailto:laflame@xxxxxxxxxxx]
> Sent: Wednesday, September 11, 2002 10:04 AM
> To: pen-l@xxxxxxxxxxxxxxxxxxx
> Subject: [PEN-L:30161] Banking group joins chorus of gloom over Japan
>
>
> http://www.forbes.com/newswire/2002/09/11/rtr718275.html
>
> Other than having tax payers bail banks, who will be the
> winners and how
> will that happen? Is this is a necessary prelude to the sell-off of
> Japanese assets at cheap prices?
>
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