Tuesday, March 15, 2011

Lying the Japanese way

Japan

Japan © fintag

News comments:
Of course this isn't another Chernobyl.

So the experts keep telling us. The governments of most countries try to cover up unpleasant realities and truths and unfortunately Japan is one of those with a track record of lies. It is not just governments but large corporations such as Tokyo Electric Power Company (TEPCO) too. As wikipedia notes:

"On August 29, 2002, the government of Japan revealed that TEPCO was guilty of false reporting in routine governmental inspection of its nuclear plants and systematic concealment of plant safety incidents. All seventeen of its boiling-water reactors were shut down for inspection as a result. TEPCO's chairman Hiroshi Araki, President Nobuya Minami, Vice-President Toshiaki Enomoto, as well as the advisers Shō Nasu and Gaishi Hiraiwa stept down by September 30, 2002"

William Pesek writes in bloomberg about these lies plus more. Think Toyota (bbc), think Sony (cnet).

We are praying (especially Lady "turning Japanese" Gaga) these lies are not lies but truths and we can all feel safer. Dump Jap stock if you want but in the long term Japan is a long play.

Today's shorts:
Japan to be evacuated completely (bbc)

Japan loses the war of words (ft)

Tchenguiz says it is all lies (telegraph)

The forgotten dictator kills more of his people while Obama plays on his new iPad (guardian)

Today's longs:
Ireland play hard and the EU flap around (wallstreetjournal)

Gossip:
Photographs of the Japanese crisis taken by non-Japanese TV stations to be finally aired.

[I posted this 1 hour before the telegraph decided to write something similar...]



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