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Friday, November 4, 2011

Japan Offers Public Bailout To Help Fix Stricken Nuclear Reactor


“Japan taxpayers will most likely not complain of the injustice many Americans belt when Congress gave $700 billion in bailout money to major banks and Wall Street investment companies, experts here said.

‘It’s difficult to make that comparison because there’s not really the separation of church and state, so to speak, here in Japan,’ said political consultant John R. Harris.

‘Tepco is part of the system and not really seen as separate from the government. It’s infrastructure.’” (Los Angeles Times)

At least these bailouts won’t themselves cause the next catastrophe. And what was that about “not really separate from the government”?

FEE Timely Classic

Bailing Out Statism” by Sheldon Richman