Lessons from Tokyo
The subprime problem in the United States has triggered global financial market instability. A similar crisis of confidence hit Japan in the 1990s, after the collapse of the late 1980s bubble. That crisis occurred because the Japanese government hesitated to inject public funds into banks, and instead reacted solely with mistaken demand-side expansion policies. When government action finally came, it was misdirected and too late. It took nine years from ... Full Story »
Posted by Kaizar Campwala
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