The National  Memo Logo

Smart. Sharp. Funny. Fearless.

Monday, December 09, 2019 {{ new Date().getDay() }}

TOKYO (AFP) – Japan’s banks emerged from the 2008 global credit crisis largely unscathed because senior employees did not speak English well enough to have got them into trouble, the country’s finance minister said Friday.

Taro Aso, who also serves as deputy prime minister, said bankers in Japan had not been able to understand the complex financial instruments that were the undoing of major global players, so had not bought them.

“Many people fell prey to the dubious products, or so-called subprime loans. Japanese banks were not so much attracted to these products, compared with European banks,” Aso told a seminar in Tokyo.

“There was an American who said Japanese banks are healthy, but that’s not true at all.

“Managers of Japanese banks hardly understood English, that’s why they didn’t buy,” he said.

Aso’s comments Friday are the latest in a line of pronouncements that have raised eyebrows.

The one-time prime minister said in January the elderly should be allowed to “hurry up and die” instead of costing the government money with expensive end-of-life medical care.

In 2007 he had to apologise for a quip about patients with Alzheimer’s disease and for making light of flood damage in central Japan.

But the deputy prime minister, who is known as a dapper dresser and often seen sporting a jauntily-angled hat, on Friday boasted he had managed to keep his foot out of his mouth since Shinzo Abe came to power as premier in December.

However, the boast was somewhat undermined when he initially got the name of the prime minister wrong.

“I have made no gaffes in the past half year even as newspapers said the Aso administration’s… No, the Abe administration’s biggest problem is Taro Aso’s gaffes,” he said.

Advertising

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Youtube Screenshot

On July 21, Verizon followed in DirecTV’s footsteps and announced it would not be renewing its contract with the far-right conspiracy theory network One America News. Having learned nothing from its catastrophic response to DirecTV, OAN denounced Verizon and encouraged viewers to harass and boycott the “radical Marxist corporation.” And since then, OAN has only further proved its worthlessness.

Without a major carrier, OAN remains focused on national issues like a fear of roving transgender gangs harassing conservatives, Rep. Alexandria Ocasio-Cortez’s support for gay men who flash “their genitals to little boys and girls” (she appeared on RuPaul’s Drag Race -- a show with no children -- two years ago), and Verizon’s “censorship” of OAN.

Keep reading... Show less
Youtube Screenshot

Postcards from the great American labor shortage: A couple arrives at the Seattle airport after a five-hour flight and stands in line at the car rental desk. People are angry. At the desk sits a harassed employee explaining that he simply has no cars of any kind to rent. Nothing. Why? There aren't enough employees on hand to vacuum, wash, fuel and process the cars.

Another snapshot. A couple has been driving for several hours and requires a bathroom stop. They pull into a Burger King. The doors are locked. The only service is at the drive-thru. Why? Lack of employees.

Keep reading... Show less
{{ post.roar_specific_data.api_data.analytics }}