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Thanks for the insight. Given your expertise (I respect expertise), can you help explain the banking problems in Japan. The two things I've read about in the paper have to do with: 1) not writing off bad loans; 2) not writing down collapsed stock prices. Politically, there seems to be a refusal to act, and I'm not sure who gets hurt by acting, presumably somebody with enough clout to prevent the politicians from acting (like Wall Street firms and corrupt execs in this country preventing any real reforms in investment banking, etc.).
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