Skip to comments.Japan: Megabanks Fall On Possible Tepco Debt Waiver(major Japanese banks in balance sheet trouble?)
Posted on 05/13/2011 2:15:42 AM PDT by TigerLikesRooster
Megabanks Fall On Possible Tepco Debt Waiver
TOKYO (NQN)--Shares in Mitsubishi UFJ Financial Group Inc. (8306), Sumitomo Mitsui Financial Group Inc. (8316) and Mizuho Financial Group Inc. (8411) fell Friday afternoon after Chief Cabinet Secretary Yukio Edano suggested the megabanks would have to write off some of their Tepco debts.
Edano said at a news conference that the Japanese people will never accept the use of taxpayers' money to help Tokyo Electric Power Co. (9501) to help pay compensation for damage caused by the accident at the Fukushima Daiichi nuclear plant unless banks waive their Tepco debts from before the March 11 earthquake.
(Excerpt) Read more at e.nikkei.com ...
Hard to imagine the economic fallout from this tragedy. Screw the stock price when people are involved on this level IMO.
Those Quick-codes bring back memories of ‘97/98.
Keep merging till you’re too big to fail.
Will they now go from triple barreled names to nine-fold?
Wow. I don’t know all the details but if someone in the industry is saying ‘the Japanese people would never accept a government bailout unless..’. We sure could have used voices like that in our industries a few years ago. Praying for all to go smoothly during Japan’s recovery. The worldwide economic damage releated to the quake and tsunami are becoming more evident as time moves along.
Some of us have been talking about this from the beginning..and of course there were those that ran around on all of these threads that claimed this was no big deal.
As facts unfold, it will be worse the Chernobyl in the totality of the ramifications.
Meanwhile, Professors of Physics are thinking it is possible the recriticality has occurred..something else people around here claimed wasn’t possible.
It is a tragic mess created , in part, by a corrupt government and corporation.
Do you have links? The bad ones, recriticality for example.
You can start here.
Meanwhile, leaking continues
It appears that the lean in Reactor 4 is not an optical illusion.
Major Japanese Banks have been in balance sheet trouble for 20 years.
That’s not the question at hand.
The question is whether the banks have enough lobbyists in the Japanese government’s halls of power to provide another ZIRP QE program to maintain the zombie balance sheets smoke and mirrors.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.