Wall Street Journal (March 29)
2010/ 03/ 29 by jd in Global News
In an editorial titled “Post-Post-Reform Japan,” the Wall Street Journal looks at the proposal put forward by Postal and Financial Services Minister Shizuka Kamei to double the cap on postal deposits to 20 million yen. The Journal believes “Mr. Kamei is installing a tap through which money could leave the private banks at the worst possible time.” While the proposal might be good politics for Kamei and his People’s New Party, the Journal considers the proposal “terrible economics… and that makes it awful politics for Mr. Hatoyama himself.” The Journal urges the Prime Minister not to undo postal reform, which it considers “one of the few important economic reforms left from the LDP era.”
