> We have a lot of financial institutions
> with a lot of shitty assets on their
> books. You can't see the future, of
> course, but the risks of doing nothing
> are pretty high.
Yes, and I take it as a near given that something will be done. In the reference to differences in political economy, I meant the relationship between Japanese financial institutions and the Japanese government. How comparable is that to the US?
Also, what happened to post-bubble Japan is recent history to us and a focus of Bernanke's, among others.
Shane