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Japanese Government Backtracks Again: Edano Says No Plan To Nationalize TEPCO

Tyler Durden's picture


If there is one thing the Japanese authorities are consistent in, it is their complete lack of consistency. First the government leaks information that it will nationalize TEPCO, sending the market panicking and the stock (9501.JP) triggering circuit breakers after it goes bidless, and a few hours later after seeing the devastation this is doing on the market (Nikkei down 1.5%), it backtracks and says it was only kidding. From Reuters: "Japan's government is not considering nationalising Tokyo Electric Power Co , the operator of the stricken nuclear plant, Chief Cabinet Secretary Yukio Edano said on Tuesday." See, they were only kidding. Or, a very clever Japan has decided to not "nationalize" TEPCO in the same AIG was not nationalized, with a whopping 2% of the outstanding stock remaining in private hands following an infinity to one dilution.

The rest of the story is known by all at this point:

The Yomiuri newspaper, citing unidentified government sources, reported that the government would temporarily nationalise TEPCO, taking a majority stake, and would help manage it and help it pay compensation for damage caused by its Fukushima nuclear power plant after it was knocked out by a massive earthquake and tsunami on March 11.

That said, would one expect anything less from an administration that does not know the difference btween 10 million and 100K...



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Mon, 03/28/2011 - 21:32 | Link to Comment LostWages
LostWages's picture

So sorry for confusion.  JK, LOL ;-)

Only glowing reports for TEPCO.

Mon, 03/28/2011 - 22:06 | Link to Comment carbonmutant
carbonmutant's picture

Spin Test....

Mon, 03/28/2011 - 21:31 | Link to Comment SwingForce
SwingForce's picture

Gawdamm assholez.....

Mon, 03/28/2011 - 21:44 | Link to Comment Atomizer
Atomizer's picture

If I had a dollar hedged for everytime I heard this.

The Power of Nightmares - 3 of 3 - The Rise of the Politics of Fear - The Shadows in the Cave

Mon, 03/28/2011 - 21:48 | Link to Comment Lord Welligton
Lord Welligton's picture

It works every time.

Fear. Of what?

Your own ignorance.

We are all ignorant and "they" who also are ignorant know it.

So "they" use it.

The thing being that "they" know that "they" are ignorant and know the "we" think "we" are not.

So they offer "us" ignorant choices.

And "we" make decisions based on ignorance.


Mon, 03/28/2011 - 23:01 | Link to Comment Atomizer
Atomizer's picture

Lord Wellington,

Your comment made my head spin. It looks like Google nicked this sometime this weekend. Have another read

This weekend post

I can't tell you how long Obama will remain POTUS. I can tell you, he is breaking laws.

Obama, if your reading this. Your being set up as a low class Muslim/Negro stealing from the US peasants. Your very own PC agenda will backfire on you. It's all by design. One day in the near future, you're going to be made a mockery by your own boss... Georgy. In the meantime, take another vacation cuz your days are tits up.

Congress is not going to be kind to you. Your lie on TV tonight didn't fool anyone. You've broke too many US laws to avoid legal consequences. Do you think you have the courage to tell the public the truth or are you going to be silent during removal from office?

This is no longer about front/back seat drivers. You have a fork in the road; Mr. Obama, what is your path?

Mon, 03/28/2011 - 23:15 | Link to Comment Lord Welligton
Lord Welligton's picture

"Your comment made my head spin."


I had to spin my head to make it.

Mon, 03/28/2011 - 21:32 | Link to Comment f16hoser
f16hoser's picture

Apparently Buffet had something to say. "Turn those machines back on"

Mon, 03/28/2011 - 21:33 | Link to Comment JohnnieWalker
JohnnieWalker's picture

This is the only bit of good news TEPCO has heard lately. The situation is going from bad to worse:


Mon, 03/28/2011 - 21:39 | Link to Comment espirit
espirit's picture

After reading the article, I wonder what levels of plutonium are considered hazardous to human health?


Mon, 03/28/2011 - 21:49 | Link to Comment Matte_Black
Matte_Black's picture

"...bad to worse."

I guess it's just semantics, but it seems to me like it's going from catastrophic to apocalyptic.

If the Japan gov can move this quickly in order to calm market turbulence, why can't it seem to do so with the the Daiichi plant?


Mon, 03/28/2011 - 21:58 | Link to Comment Careless Whisper
Careless Whisper's picture

gov sez that plutonium can't hurt you, but marijuana can.

Mon, 03/28/2011 - 22:12 | Link to Comment UninterestedObserver
UninterestedObserver's picture

No that was TRAV 

Mon, 03/28/2011 - 22:15 | Link to Comment Matte_Black
Matte_Black's picture

There's a punchline in there somewhere. I just cant decide if it's about 'gateway' drugs to apocalypse, or transfats, or childhood obesity.

Otoh, maybe I'm wrong and the punchline was the word 'government'.

Mon, 03/28/2011 - 22:18 | Link to Comment Oligarchs Gone Wild
Oligarchs Gone Wild's picture

It looks like the Japanese have also restored the major transit infrastructure - claiming 90% up and running now?  I believe I also heard today that Sendai was also handling traffic today, but this article says it's not...

TOKYO (Nikkei)--Almost 90% of major land, sea and air transportation networks disrupted by the March 11 earthquake have been restored, according to Transport Ministry data.

Save for Sendai's tsunami-swamped airport, all 12 airports in the region are back in operation, including for public use. The Hanamaki, Yamagata, Fukushima and other airports are open around the clock to handle Self-Defense Forces and U.S. military transport planes.


Mon, 03/28/2011 - 22:23 | Link to Comment Oligarchs Gone Wild
Oligarchs Gone Wild's picture

This article claims that Sendai airport is actually open and moving goods.  Perhaps it's only open for relief efforts and not public use.



Mon, 03/28/2011 - 21:33 | Link to Comment espirit
espirit's picture

I smell a meltdown.

Mon, 03/28/2011 - 22:03 | Link to Comment ZackAttack
ZackAttack's picture

And all these reactors were supposed to be either idle or in cold shutdown.

Mon, 03/28/2011 - 21:34 | Link to Comment Arch Duke Ferdinand
Arch Duke Ferdinand's picture

27 Signs That The Nuclear Crisis In Japan Is Much Worse Than Either The Mainstream Media Or The Japanese Government Have Been Telling Us

Mon, 03/28/2011 - 21:34 | Link to Comment buzzsaw99
buzzsaw99's picture

TOKYO (Nikkei)--Nikkei Inc. will reconfigure the stocks used to calculate the Nikkei 500 index on March 29 and April 1. A total of 13 issues will be removed, and the same number will be added.

The components of the index are reshuffled every year based on turnover, trading value and market capitalization. In addition, some shares are set to be delisted due to the establishment of a holding company and other reasons.

Stocks to be removed on March 29:

Sanyo Electric Co. (6764)

Panasonic Electric Works Co. (6991)

Sumitomo Trust & Banking Co. (8403)

Stocks to be removed on April 1

Culture Convenience Club Co. (4756)

Godo Steel Ltd. (5410)

Nippon Metal Industry Co. (5479)

Tadano Ltd. (6395)

Star Micronics Co. (7718)

Cedyna Financial Corp. (8258)

Daiei Inc. (8263)

Kiyo Holdings Inc. (8415)

Okasan Securities Group Inc. (8609)

Fuji Fire & Marine Insurance Co. (8763)

Stocks to be added on March 29:

Fuji Oil Co. (2607)

Saizeriya Co. (7581)

Senshu Ikeda Holdings Inc. 8714


Stocks to be added on April 1:

Itoham Foods Inc. (2284)

Kyorin Co. (4569)

Nihon Kohden Corp. (6849)

Shin-Kobe Electric Machinery Co. (6934)

Nichicon Corp. (6996)

Toyota Auto Body Co. (7221)

Nipro Corp. (8086)

Ogaki Kyoritsu Bank (8361)

Sotetsu Holdings Inc. (9003)

Hitachi Transport System Ltd. (9086)

TEPCO not on list (YET)

Mon, 03/28/2011 - 22:12 | Link to Comment Nobody special
Nobody special's picture

Kinda suggests where they expect to see gains, don't you think?

Mon, 03/28/2011 - 22:42 | Link to Comment Matte_Black
Matte_Black's picture

I agree, and also where they expect to see losses. The one-two punch for market prosperity, I guess.

It's an interesting list, in any case.

Mon, 03/28/2011 - 21:35 | Link to Comment max2205
max2205's picture

Damn it!!!! BTFD. arrrrgggg

Mon, 03/28/2011 - 21:38 | Link to Comment Jim in MN
Jim in MN's picture

Clearly, we need to split it into 'Good TEPCO' and 'Bad TEPCO'


"Buy Bad TEPCO Liberty Flibbertygibbety Bonds: 'Cuz when we say toxic assets, we mean TOXIC!"

Mon, 03/28/2011 - 21:41 | Link to Comment buzzsaw99
buzzsaw99's picture

That is the best idea I have heard all day.

Mon, 03/28/2011 - 21:39 | Link to Comment Id fight Gandhi
Id fight Gandhi's picture

wow, this should make the markets rally. sounds like they got all the problems solved.



Mon, 03/28/2011 - 21:39 | Link to Comment etudiant
etudiant's picture

This sterling performance by the Japanese political leadership helps explain their success in dealing decisively with the Fukushima accident.  Poor Japan.

Mon, 03/28/2011 - 21:39 | Link to Comment Teamtc321
Teamtc321's picture

wtf...And just to think, the people of Japan and half the earth's health are in these 3rd stringer's hand's.

It's time to call in the gun's. Get some help over there asap.

"Sarc on" 

Where is the sierra club or green piece's of shit? Put some trash can boot's wrapped with 100 mile an hour tape on there berkanstock's and drop em in the zone.

Grab a mop and a suction hose bitcheeez.


This is starting to be unreal.....




Mon, 03/28/2011 - 21:38 | Link to Comment Crummy
Crummy's picture

Before this disaster, I would have put Japan as one of the top five countries least likely to revolt.

Now I give it five years till it does.


Mon, 03/28/2011 - 21:46 | Link to Comment Judge Judy Scheinlok
Judge Judy Scheinlok's picture

They only thing they're going to revolt about is the high cost of cemetery condos.

5 years!? Do you know what is going on over there? The makeshift force fed cooling systems are clogging up with salt. I give it 2 days till you hear about fireworks, and then 12 hours till you start to feel the effects.

Mon, 03/28/2011 - 22:13 | Link to Comment Nobody special
Nobody special's picture

Let's not forget that the Fukushima 50 have been without sleep for two friggin weeks!  How much longer do you really think they can keep a lid on this?

Mon, 03/28/2011 - 21:39 | Link to Comment Judge Judy Scheinlok
Judge Judy Scheinlok's picture

As SwingForce says; "I wish they'd stop monkeying around!".

It's all a game of desensitization.

Mon, 03/28/2011 - 21:46 | Link to Comment Eireann go Brach
Eireann go Brach's picture

Either way it is bullish

Mon, 03/28/2011 - 21:44 | Link to Comment props2009
Mon, 03/28/2011 - 22:10 | Link to Comment Bubbles...bubbl...
Bubbles...bubbles everywhere's picture

"You dropped nuclear bombs on us, how do you like our radiation now round eye?

Tue, 03/29/2011 - 05:26 | Link to Comment arnogn143
arnogn143's picture


Mon, 03/28/2011 - 21:52 | Link to Comment djsmps
djsmps's picture

Don't worry about a tsunami, we will study....Warning Warning Tsunami Coming!

Radiation-san is 10 million times normal....We don't know about that, we will study

We are nationalizing press-san very funny people, not true, we will study

Mon, 03/28/2011 - 21:52 | Link to Comment Oligarchs Gone Wild
Oligarchs Gone Wild's picture

Smoke rising today from NH USA Nuclear plant

Meanwhile,  back in "facts-are-too-much-for-you-to-comprehend-WEST" we see that an "unusual event" has occurred at a NH nuclear power plant a few hours ago.  Apparently this is only the 2nd or 3rd of these "unusual events" in 30 years, so we need not fret about said details.

Van Dongen said only two or three such "unusual events" have been reported since the plant began operating in 1990.

Mon, 03/28/2011 - 21:54 | Link to Comment Matte_Black
Matte_Black's picture

From the article:

"Smoke was detected in a transformer attached to a service elevator in a support building at Seabrook Station in Seabrook, said Jim Van Dongen, spokesman for the state's department of safety.

Mon, 03/28/2011 - 22:03 | Link to Comment Oligarchs Gone Wild
Oligarchs Gone Wild's picture

Agreed.  I read the article too fast.  Transformers do blow, they are in service elevators and that can certainly cause smoke such as reported.   Because my redacting abilities are now disabled, I want to be on record as concurring, thanks for the correction.

Mon, 03/28/2011 - 22:06 | Link to Comment Matte_Black
Matte_Black's picture

No worries, brother. I wasn't criticizing you.

From what we've seen in the past two weeks, the place could be well on its way to a level 4 accident, and this is just the later-to-be-corrected bullshit part of the spin cycle.

It has become clear that the plant operators aren't always being honest. Right?

Mon, 03/28/2011 - 22:09 | Link to Comment whoopsing
whoopsing's picture

Ahh,I would'nt worry too much about that one Matte,that shit can fry does'nt sound that bad

Mon, 03/28/2011 - 22:21 | Link to Comment Matte_Black
Matte_Black's picture

Yeah, thnaks. I know.

I just wanted to archive what they were saying in case we hear another story later. Probably just feeling paranoid about the issue of corporate/gov. disclosure lately... a little.

: )

Mon, 03/28/2011 - 21:57 | Link to Comment Jim in MN
Jim in MN's picture

That's a nice plant.  $6.5 billion to build, and $1.2 more for the unfinished pile of concrete and rebar next to it (unit 2).  A happy tale all around.

When I first toured it they had a little yellow rope around the turbine block as they had accidently allowed the cooling water to mix with the steam cycle and irradiated the entire thing.  The little rope was where you couldn't go, a month or so later.

No biggie in the biz...but be sure to wear your ear protection!  WHAT????

Mon, 03/28/2011 - 22:03 | Link to Comment Matte_Black
Matte_Black's picture

Some of these anecdotes you hear are very disturbing. I seriously wonder how often things go wrong with nuclear fission in the US, and we never hear about it.

Tue, 03/29/2011 - 02:43 | Link to Comment Ahmeexnal
Ahmeexnal's picture

Relax, it was just a couple of dudes charbroiling their tacos on the plant's premises.


Mon, 03/28/2011 - 21:59 | Link to Comment bob_dabolina
bob_dabolina's picture

You want to see trav7777 at his finest?

Starting here at this comment:

He says "Do you want the facts or dont you?"

I respond "I want the facts"

He says " I won't speculate without the facts"

What the fuck is that?

From this thread:

This is the bullshit I'm sick of.

Little fuckin' bitch pretending to be an expert.

Mon, 03/28/2011 - 22:01 | Link to Comment i-dog
i-dog's picture

I'm sick of you bitching about Trav! Do you spend your whole life telling tales? Do we look like your mom?

Mon, 03/28/2011 - 22:08 | Link to Comment bob_dabolina
bob_dabolina's picture

Did I ask you a question?.... bitch

If not STFU

Mon, 03/28/2011 - 22:18 | Link to Comment Nobody special
Nobody special's picture

If you're gonna complain, you'll get flack for it.  Accept that some would prefer you shut the gap in your face.  I'm with 'the bitch.'

Seriously dude, you need a time out.

Mon, 03/28/2011 - 22:37 | Link to Comment Fearless Rick
Fearless Rick's picture

FU and Trav. Take your little dispute elsewhere. May I suggest shoving up each other's asses?

Mon, 03/28/2011 - 22:19 | Link to Comment trav7777
trav7777's picture

bob I gave you the facts about the plutonium are you babbling about?

You're alienating everybody around with this obsession about me, man.  It's gone long past the point where it's funny anymore, and you need to think about seeking out professional help.

Mon, 03/28/2011 - 22:51 | Link to Comment bob_dabolina
bob_dabolina's picture

When did I ask you for plutonium dosages?

Why are you making shit up? your own medical help.

Mon, 03/28/2011 - 23:52 | Link to Comment tmosley
tmosley's picture

The only one being alienated here is you.  If you would take a break and calm down, you would realize that.

This is why you can't advance in life.  It's not just about facts, it's about how you communicate them.  If you do so in a respectful manner, people will like you, and rapidly come to respect you.  You blow away any respect you may or may not have earned by pissing all over anyone and everyone that you disagree with in the slightest.

Communication isn't that hard.  But your attitude makes it impossible.

Tue, 03/29/2011 - 02:17 | Link to Comment trav7777
trav7777's picture

Cliff and bob, right on cue.  LOL.

You are such a tool, cliff.  I guess we can put internet psychic on the list of things you totally suck at.

Mon, 03/28/2011 - 22:05 | Link to Comment Die Weiße Rose
Die Weiße Rose's picture

Tepco is in deep Shit !

They have been down-playing and denying this whole Disaster and it is the most irresponsible behaviour and criminal deceit to down-play this Disaster,

while the international community looks on in disbelieve and stupefied desperation...

here is a very interesting article on the subject

from "Der Spiegel" on Mon 28 march 2011:,1518,753530,00.html

How Dangerous Is Japan's Creeping Nuclear Disaster?

The destroyed reactors at Fukushima have been releasing radiation for weeks. According to model calculations, the stricken nuclear plant could already have released one-tenth of the amount of radiation unleashed in the Chernobyl disaster. How serious a risk does the disaster pose to humans?


To make matters worse, the wind changed on Friday. Radioactive particles over the Pacific were now drifting westward across Japan. High levels of radiation were detected in vegetables, water and soil near the Fukushima plant.

"It is high time Japanese authorities extend the 20- kilometer (12.4-mile) evacuation zone around the crippled nuclear-power plant at Fukushima ... Pregnant women and small children should immediately be evacuated from a progressively increasing area," writes nuclear critic Mycle Schneider, lead author of the World Nuclear Industry Status Reports. Embryos, fetuses and infants are at the highest risk, because radiation targets cells that divide quickly.

The head of the United States Nuclear Regulatory Agency (NRC) recommends expanding the evacuation zone to 80 kilometers, in which case 2 million people would have to be relocated -- in addition to the hundreds of thousands of earthquake and tsunami victims. Japanese authorities are now asking people to leave the area voluntarily.

The beleaguered Japanese are also being peppered with concerned advice, demands and speculation from the United States, Russia, Finland and Germany. Even France's nuclear safety agency IRSN, not exactly known for its cautionary approach to nuclear risks, published a disturbing model calculation last week. According to the report, by last Tuesday the Fukushima plant had already released into the environment one-tenth of the amount of radioactive material that was released at Chernobyl in 1986.

how will this play out ?,1518,753530,00.html

Mon, 03/28/2011 - 22:13 | Link to Comment Itsalie
Itsalie's picture

In any other country, the government would have stepped in to assume responsibility for the mess in and around the Fukushima plant - in Japan 3 weeks after the nuclear accidents, Tepco are still left to decide what to tell the government and fire fighters still need to wait for hours outside the plant before being admitted to the plant when they change shift. The Japanese showed the world their stoicism, problem is they would also tolerate decades of incompetence of their politicians and the self-serving civil servants whose key objective is to hold on to power and to place their own retirees as chiefs of corporations like Tepco. So while externally there is semblance of efficieny and order, we have seen behind the veneer that their system is just as corrupt and broken as the industrial-banking oligopoly of the west.

Mon, 03/28/2011 - 22:45 | Link to Comment Cdad
Cdad's picture

In any other country, the government would have stepped in to assume responsibility for the mess in and around the Fukushima plant - in Japan 3 weeks after the nuclear accidents clearly martini fatigued...I cannot help but asking you, Itsalie...what ass backward, fucked up,socialist, Euro nation are you from? America...PRIOR to our most recent bank betrayal and government retard contest, your quote would offend so fucking deeply...that I dare say that whoever the fuck you should/would have thought twice about posting such socialistic/communistic dribble.  

So to an exponential factor of 3, in comp to my comments to Trav, FUCK OFF COMMUNIST ASSWIPE!  You think such things because you have been clinging to some government teet your whole miserable existence.  Don't project your bile across the entire world...with a lazy fucking post like this...without looking in the mirror and seeing just what a weak and sick fuck you have been your whole life FIRST!

Tue, 03/29/2011 - 02:21 | Link to Comment trav7777
trav7777's picture

wow..what a total screed, lol.  You should go easy on the booze man.

just say BP or GOM next time...our gov't played with kid gloves too.  All of them do.

You think The One wanted to get his hands oily with the GOM?  Hell no; it was politically more expedient to let people potentially die, let shit get all fucked up and just wag his finger at BP while he gazed into the future in between golf outings.

In Japan, the politicians don't want ownership of this.  Nobody takes risks. 

Mon, 03/28/2011 - 22:17 | Link to Comment Convolved Man
Convolved Man's picture

And some good news ...

Japan’s Unemployment Rate Unexpectedly Falls to 4.6%


Probably would have been more relevant if released March 10th instead of now.

Mon, 03/28/2011 - 22:32 | Link to Comment Nobody special
Nobody special's picture

It looks like nothing more than the U3 measure we see applied in the US.  Those not able to work (refugees) are not counted in the workforce.  Nor are those searching for lost family, or those who have not applied for new jobs since the tsumami destroyed their homes and workplaces, because they're not actively seeking paid employment.  While we're at it, those that did work in the last 30 days are too newly unemployed to count.  Well lookie here... of those few that are left, most are workin.  Who said there was an unemployment problem?

Damn, this spin stuff is easy.  I should apply for a government job.  Don't forget the required reading:

Mon, 03/28/2011 - 22:20 | Link to Comment trav7777
trav7777's picture

Government probably doesn't want their reelection chances fucked by this's a dangerous game of chicken when politics get involved.

Mon, 03/28/2011 - 22:34 | Link to Comment Cdad
Cdad's picture

And since I posted my thoughts below only to see you here just now upon the update, Trav...fuck off ass wipe!  Do us all a favor and go fishing tomorrow, would you?

Indeed, the governement blah blah blah...but for some odd fucking reason, earlier today, you could not see or smell the shit stains on your own shirt. Curious.  Perhaps your senses will be better in future days?


Mon, 03/28/2011 - 22:36 | Link to Comment Matte_Black
Matte_Black's picture

Good point. I had forgotten that Kan was headed for a no confidence vote when this thing happened.

One more thing adding to the general failure that seems to be taking place.

Mon, 03/28/2011 - 22:30 | Link to Comment Cdad
Cdad's picture


OK...that's it for me for the night.  Shaking martini number 3 and going lights out after that.

If the syndicate, American or Japanese, think they can "press release" or "trial balloon" all of this away, well then folks in Tokyo best be paying very close anyone EXCEPT TEPCO or the Japanese government.

Unbelievable.  'nough said and 'nough read for me tonight.  Tomorrow will be another cataclysmic day, to be sure.

Thanks Tyler.  As many before me have posted, and despite your own claims [implied]  from time to time that you are not in the business of trading calls/news, yours is the only site I really need to assess this shit situation fully upon us now.

Good grief [and by that I mean " more for the road"]


Mon, 03/28/2011 - 22:48 | Link to Comment Fearless Rick
Fearless Rick's picture

This is getting bad. Drank myself sober yesterday. Now I'm just sober and unhappy. I think about what life will be like when I know I have like three weeks to live. Then I think that the shared agony and figure it's not going to be pretty.


I would think this all would stop when somebody puts a bullet into either a banker, politician or CEO, but that doesn't seem plausible either.

I've been saying for 2 weeks that they need to get this thing under control because it just keeps spewing radioactive particles day and night, into the air, sea, groundwater, etc. and the cumulative effects are not good. Sure, it's not harmful today, but what about next week, next month, next year. 

Entombment, bitchez. And throw our congress in there along with your parliament or whatever you have for government.


Tsunami: winning


Fukushima daiichi: EPIC FAIL

News media: MASSIVE FAIL

Japan govt.: MASSIVE FAIL



Mon, 03/28/2011 - 23:01 | Link to Comment Matte_Black
Matte_Black's picture


TURNING and turning in the widening gyre
The falcon cannot hear the falconer;
Things fall apart; the centre cannot hold;
Mere anarchy is loosed upon the world,
The blood-dimmed tide is loosed, and everywhere
The ceremony of innocence is drowned;
The best lack all conviction, while the worst
Are full of passionate intensity.

Tue, 03/29/2011 - 00:00 | Link to Comment davepowers
davepowers's picture

are you telling us that the FED raised all that money with the reverse repo for nothing?

Tue, 03/29/2011 - 01:02 | Link to Comment chump666
chump666's picture

of course they won't... means that Japan's govt would repatriate...killing off projects/ investments in a slew of Asian countries - to buy that smoldering reactor melting down in real time.

They are most probably 2nd to China of a shitdump of a government

Tue, 03/29/2011 - 01:03 | Link to Comment chump666
chump666's picture

on wires now:

*Japan Upper House rejects the FY2011 budget bill - Kyodo.


Tue, 03/29/2011 - 02:07 | Link to Comment slvrizgold
slvrizgold's picture

Oh wow this story is too rich!   The Japanese govt doesn't want to nationalize a destroyed business.  Well, guess what they will be paying for it for years and years to come like it or not.    At least the Japanese are smart enough to not take equity in a money losing company, can't say as much for the full retard govt in USA.

Tue, 03/29/2011 - 06:47 | Link to Comment tek77blu
tek77blu's picture

Great Interview of Jim Willie on this Japanese Crisis and the impacts it will have on gold and especially silver:

Tue, 03/29/2011 - 08:46 | Link to Comment oogs66
oogs66's picture

How does this company have any value left?  What is it going to cost to clean up this mess?  Isn't government takeover or not meaningless?  These guys have one huge mess to clean up and shareholders will be wiped out as a result?


Or is Japan going to pay for the clean up but not nationalize?  Damn I need to be TBTF!

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