Japan tries to halt selloff in bank's shares
Article Abstract:
The Finance Minister of Japan worked to stabilize financial markets and prevent the further selloff of a weakened bank's shares. The minister's efforts were part of the Japanese government's move toward creating a system that will aid in the restructuring of collapsed banks. Japan's leadership is establishing the details of the "Total Plan" that will deal with bad and unstable loans worth $600 billion. These loans are damaging the banking system. Meanwhile, the Long-Term Credit Bank is hoping to bring about a rescue merger in order to stabilize itself.
Comment:
Japan: Finance Minister of Japan works to stabilize financial markets and prevent further selloff of a weakened bank's shares
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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Bank reform, not bankruptcy, is the big talk in Tokyo
Article Abstract:
The collapse of the Japan Leasing Corporation is a sign that the ruling Liberal Democratic Party (LDP) is willing to allow major businesses to fail rather than try to bail them out. This is according to some analysts. This has shown a focus on bank reform and a move away from bankruptcy. Reform in the Japanese banking industry is a major step towards ending the country's economic recession. Opposition parties compelled the LDP to forego traditionally secret talks.
Comment:
Collapse of co is a sign that ruling LDP is willing to allow major business to fall rather than bail them out
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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Japan's lower house clears $508 billion bank rescue
Article Abstract:
The Japanese parliament's lower house passed a bank rescue bill that will invest huge amounts of funding into the country's troubled banking system. The passage of the bill is move towards reforming its damaged banking system following months of political debate. Parliament's upper house is expected to give its approval of the bill on October 16, 1998. The bill will infuse 60 trillion yen ($508 billion) into the banking system.
Comment:
Japan: Parliament's lower house passes bank rescue bill that will invest huge amounts of funding into troubled banking system
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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Comment about this article or add new information about this topic:
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