Compared with Koizumi and Takenaka, the second reform measure for the financial industry is what the financial industry really hopes to see, and this plan was proposed by Ryutaro Hashimoto.
The reform plan proposed by Ryutaro Hashimoto advocates the relaxation of financial controls and the modification or reform of financial laws, systems and organizations related to restricting financial liberalization, such as: amending the prohibition of monopoly law, banking law, securities law, etc., and allowing the establishment of financial holding companies to allow the financial industry to absorb funds from the private sector.
In addition, he also advocated the separation of the Finance Department from the Tripitaka Province and the establishment of an independent financial supervision agency, thereby limiting the Tripitaka Province's interference in the financial industry
Just from these financial reform propositions of Ryutaro Hashimoto, we can see who will be the one who will truly benefit once this reform proposition is passed.
That's right, once this reform plan is passed, it is estimated that the first one to jump out to celebrate will be the current major banks, because these reform measures are the most beneficial to them.
However, Kita Kita Miyashita was not as optimistic as others. He knew that the measures proposed by Ryutaro Hashimoto were not actually the reform measures he was really preparing to implement. To put it bluntly, this is to cater to the financial world and prepare for his future election as prime minister.
This is a piece of cake drawn, there is no possibility of cashing it out at all
In his previous life, Ryutaro Hashimoto also proposed such a financial reform proposal. He called it a financial explosion-like reform plan, and thus gained strong support from the financial world and finally won the throne of the Prime Minister.
But just after he took office as Prime Minister, these reform plans were left behind. During his tenure, he adopted a completely bystander strategy to see a series of financial institutions go bankrupt, including credit banks.
Therefore, the promises of politicians cannot be believed at all. Whoever believes is an idiot is
As for Junichiro Koizumi...
This is a very complicated person. If it is based on the perspective of Chinese national feelings, then this guy is a complete scum. The full right turn of Japanese society began when he served as prime minister. During his tenure, he frequently visited Yasukuni Shrine, which led to the relationship between Japan and Asian countries, especially East and Southeast Asian countries, to a freezing point.
Netizens from China and South Korea used his avatars to create a large number of funny pictures, which is enough to prove how strong the East Asian world is about this person.
However, if you look at it from the perspective of a Japanese, this person is the only prime minister in Japan who has really done something practical since the bubble economy
It was this person who solved the financial industry crisis problem that had plagued Japan for more than ten years during his tenure. It was also this person who pushed the postal reform forward during his tenure.
It undoubtedly requires great courage to solve these problems. This guy dares to do it, and it was done in the end. This is enough to prove his ability.
In addition, during Koizumi's prime minister, the Liberal Democratic Party was unified again, and even Shizuka Kamei was expelled from the party by him. It can be said that since the war, only during Koizumi's prime minister, the factional struggle within the Liberal Democratic Party has been relieved for the first time since the beginning of the war.
When anyone looks at a person or something, he has his own starting point, and the most fundamental starting point is his own interests.
Miyashita Kita is also a person, so when he looks at Koizumi, he also has his own opinions. Based on his interests, Koizumi is undoubtedly a villain. Therefore, at a small briefing within the Hongyi Society, he firmly supported the political stifling action against Koizumi and Takenaka.
In the future, the main direction of the Hongyi Association will be to prevent Koizumi and its factions from developing within the Liberal Democratic Party and to prevent the further expansion of its political influence.
Although he opposed the financial reform plan proposed by Koizumi and Takenaka, as a member of the financial industry, Miyashita Kita also knew one thing, that is, Japan's financial industry has indeed reached the point where it cannot be rectified.
The Hony Association gathered leaders from several major banks in Japan, so his understanding of this issue is even deeper than that in the Financial Department.
According to statistics from the Financial Department, as of the end of 1994, the existing Japanese banks had a total of 368 trillion yen of non-performing debts, while the results obtained by Washington according to the US risk control standards were 357 trillion yen.
But in fact, these two statistics are not correct. It is normal for Americans to make statistics errors because they have limited access to information, while the statistics of the Finance Department are counted according to relatively loose standards.
What are relatively loose statistical standards?
To put it bluntly, it means a company that has loans. As long as it has not gone bankrupt, even if it has no ability to repay the loan, the loan will not be included in the statistics.
In addition, the first move by the Hachishita Kitaki brought the real estate value to an inflated level, which also reduced the ratio of bad debts a lot.
According to data obtained by Kita Miyashita from the Hony Association, the total amount of problematic bonds in the banking industry in Japan has reached 135 trillion yen, of which the bad debts that cannot be recovered are as high as 432 trillion yen
This amount is nearly 60 trillion yen more than the current government debt owed by the Japanese government. How serious and terrible is this problem? It is really conceivable.
If these debts are distributed to every Japanese, it means that everyone in Japan will have to bear more than one million yen debts, from newborn babies to dying elderly people.
It can be said that since the bursting of the bubble economy, every cabinet has been very clear about how serious the financial industry is. Many people also want to solve this problem, but why are there always thunder and raindrops and countless slogans, but in the end there is no movement?
This is not because they are worried about triggering a financial tsunami or a major collapse in the financial industry, but because they are worried about the series of big troubles caused by this.
The problem of bad debt claims is not only a problem in the financial industry, but also involves problems in the industry.
Once the state takes action to solve this problem, track down the bank's non-performing debt rights, and orders them to go bankrupt and reorganize, countless companies as lenders will also face bankruptcy and bankruptcy.
In the final analysis, the problem of bad debt is a problem that affects the whole body. It is related to the capital adequacy ratio of banks, mutual holdings between banks and enterprises, the financing structure of enterprises, etc., countless problems, if one is not done well, it can even reverse the economy of Japan for decades.
So, is there any solution to this super huge problem?
Of course the answer is, but to solve this problem, there is a very important premise, that is, it is necessary to break the closed situation of the postal system. First, reform the postal system, and at least the postal savings must be separated from the postal system.
Why?
There is only one reason, that is, postal savings are too rich. This system absorbs 35% of the total personal savings in Japan, with an amount of up to 250 trillion yen. Even the public funds urgently needed by the government are borrowed from postal savings.
In the previous life of Miyashita Kita, Koizumi Junichiro was the prime minister, and the preliminary preparations for solving the problem of bad debts were promoted to reform the postal system and to separate postal savings from this large-scale and deeply rooted vested interest group.
Subsequently, with the help of huge financial savings, the so-called financial and industrial regeneration plan was implemented, and through insurance institutions' guarantees, public funds and private semi-investment, a large number of banks on the verge of bankruptcy were rescued. At the same time, the problem of bad debt rights that has plagued Japan for more than ten years was solved.
Now, as an insider, Miyashita Kita hopes that banks with shares can receive support from public funds and private capital to get rid of the fate of bankruptcy and liquidation. On the other hand, he does not want the bank's operations to be intervened by the government and his own interests will be greatly affected.
Therefore, for him and the members of the Hongyi Association who are similar to him, the best solution is to adopt part of Koizumi and Takenaka’s reform plan, mainly the part that is beneficial to them.
In this way, a very important contradiction arises the financial world represented by major banks and the conservative and closed postal system.
If the financial world wants to solve its own bad debt problem, the first thing it needs is a large amount of funds. In the past, they have always been eyeing the government's public funds, but public funds are of great importance after deducting the necessary government expenses, very limited things can really fall into their hands.
Therefore, they are now focusing on the money bag of postal savings, that is, they are focusing on the savings of the people. As long as the funds in the postal savings can be used, their troubles can be solved
Of course, applying national savings is a very dangerous thing. Without government guarantees or even lack of credibility, it is easy to cause panic among the people. In serious cases, it may even cause large-scale national riots.
However, these are not what the people of the Miyagi need to worry about. For them, governing the country and maintaining peace is the business of politicians, and what they need to do is to play with money. There is absolutely no such thing as worrying about the country and the people in the attributes of capital.
Therefore, for Kita Kitaki, the next stage of strategy is to prevent the political expansion of the Koizumi faction on the one hand, and on the other hand, we must also find ways to attack the postal system and promote the implementation of the postal system reform.
The reform plan proposed by Ryutaro Hashimoto advocates the relaxation of financial controls and the modification or reform of financial laws, systems and organizations related to restricting financial liberalization, such as: amending the prohibition of monopoly law, banking law, securities law, etc., and allowing the establishment of financial holding companies to allow the financial industry to absorb funds from the private sector.
In addition, he also advocated the separation of the Finance Department from the Tripitaka Province and the establishment of an independent financial supervision agency, thereby limiting the Tripitaka Province's interference in the financial industry
Just from these financial reform propositions of Ryutaro Hashimoto, we can see who will be the one who will truly benefit once this reform proposition is passed.
That's right, once this reform plan is passed, it is estimated that the first one to jump out to celebrate will be the current major banks, because these reform measures are the most beneficial to them.
However, Kita Kita Miyashita was not as optimistic as others. He knew that the measures proposed by Ryutaro Hashimoto were not actually the reform measures he was really preparing to implement. To put it bluntly, this is to cater to the financial world and prepare for his future election as prime minister.
This is a piece of cake drawn, there is no possibility of cashing it out at all
In his previous life, Ryutaro Hashimoto also proposed such a financial reform proposal. He called it a financial explosion-like reform plan, and thus gained strong support from the financial world and finally won the throne of the Prime Minister.
But just after he took office as Prime Minister, these reform plans were left behind. During his tenure, he adopted a completely bystander strategy to see a series of financial institutions go bankrupt, including credit banks.
Therefore, the promises of politicians cannot be believed at all. Whoever believes is an idiot is
As for Junichiro Koizumi...
This is a very complicated person. If it is based on the perspective of Chinese national feelings, then this guy is a complete scum. The full right turn of Japanese society began when he served as prime minister. During his tenure, he frequently visited Yasukuni Shrine, which led to the relationship between Japan and Asian countries, especially East and Southeast Asian countries, to a freezing point.
Netizens from China and South Korea used his avatars to create a large number of funny pictures, which is enough to prove how strong the East Asian world is about this person.
However, if you look at it from the perspective of a Japanese, this person is the only prime minister in Japan who has really done something practical since the bubble economy
It was this person who solved the financial industry crisis problem that had plagued Japan for more than ten years during his tenure. It was also this person who pushed the postal reform forward during his tenure.
It undoubtedly requires great courage to solve these problems. This guy dares to do it, and it was done in the end. This is enough to prove his ability.
In addition, during Koizumi's prime minister, the Liberal Democratic Party was unified again, and even Shizuka Kamei was expelled from the party by him. It can be said that since the war, only during Koizumi's prime minister, the factional struggle within the Liberal Democratic Party has been relieved for the first time since the beginning of the war.
When anyone looks at a person or something, he has his own starting point, and the most fundamental starting point is his own interests.
Miyashita Kita is also a person, so when he looks at Koizumi, he also has his own opinions. Based on his interests, Koizumi is undoubtedly a villain. Therefore, at a small briefing within the Hongyi Society, he firmly supported the political stifling action against Koizumi and Takenaka.
In the future, the main direction of the Hongyi Association will be to prevent Koizumi and its factions from developing within the Liberal Democratic Party and to prevent the further expansion of its political influence.
Although he opposed the financial reform plan proposed by Koizumi and Takenaka, as a member of the financial industry, Miyashita Kita also knew one thing, that is, Japan's financial industry has indeed reached the point where it cannot be rectified.
The Hony Association gathered leaders from several major banks in Japan, so his understanding of this issue is even deeper than that in the Financial Department.
According to statistics from the Financial Department, as of the end of 1994, the existing Japanese banks had a total of 368 trillion yen of non-performing debts, while the results obtained by Washington according to the US risk control standards were 357 trillion yen.
But in fact, these two statistics are not correct. It is normal for Americans to make statistics errors because they have limited access to information, while the statistics of the Finance Department are counted according to relatively loose standards.
What are relatively loose statistical standards?
To put it bluntly, it means a company that has loans. As long as it has not gone bankrupt, even if it has no ability to repay the loan, the loan will not be included in the statistics.
In addition, the first move by the Hachishita Kitaki brought the real estate value to an inflated level, which also reduced the ratio of bad debts a lot.
According to data obtained by Kita Miyashita from the Hony Association, the total amount of problematic bonds in the banking industry in Japan has reached 135 trillion yen, of which the bad debts that cannot be recovered are as high as 432 trillion yen
This amount is nearly 60 trillion yen more than the current government debt owed by the Japanese government. How serious and terrible is this problem? It is really conceivable.
If these debts are distributed to every Japanese, it means that everyone in Japan will have to bear more than one million yen debts, from newborn babies to dying elderly people.
It can be said that since the bursting of the bubble economy, every cabinet has been very clear about how serious the financial industry is. Many people also want to solve this problem, but why are there always thunder and raindrops and countless slogans, but in the end there is no movement?
This is not because they are worried about triggering a financial tsunami or a major collapse in the financial industry, but because they are worried about the series of big troubles caused by this.
The problem of bad debt claims is not only a problem in the financial industry, but also involves problems in the industry.
Once the state takes action to solve this problem, track down the bank's non-performing debt rights, and orders them to go bankrupt and reorganize, countless companies as lenders will also face bankruptcy and bankruptcy.
In the final analysis, the problem of bad debt is a problem that affects the whole body. It is related to the capital adequacy ratio of banks, mutual holdings between banks and enterprises, the financing structure of enterprises, etc., countless problems, if one is not done well, it can even reverse the economy of Japan for decades.
So, is there any solution to this super huge problem?
Of course the answer is, but to solve this problem, there is a very important premise, that is, it is necessary to break the closed situation of the postal system. First, reform the postal system, and at least the postal savings must be separated from the postal system.
Why?
There is only one reason, that is, postal savings are too rich. This system absorbs 35% of the total personal savings in Japan, with an amount of up to 250 trillion yen. Even the public funds urgently needed by the government are borrowed from postal savings.
In the previous life of Miyashita Kita, Koizumi Junichiro was the prime minister, and the preliminary preparations for solving the problem of bad debts were promoted to reform the postal system and to separate postal savings from this large-scale and deeply rooted vested interest group.
Subsequently, with the help of huge financial savings, the so-called financial and industrial regeneration plan was implemented, and through insurance institutions' guarantees, public funds and private semi-investment, a large number of banks on the verge of bankruptcy were rescued. At the same time, the problem of bad debt rights that has plagued Japan for more than ten years was solved.
Now, as an insider, Miyashita Kita hopes that banks with shares can receive support from public funds and private capital to get rid of the fate of bankruptcy and liquidation. On the other hand, he does not want the bank's operations to be intervened by the government and his own interests will be greatly affected.
Therefore, for him and the members of the Hongyi Association who are similar to him, the best solution is to adopt part of Koizumi and Takenaka’s reform plan, mainly the part that is beneficial to them.
In this way, a very important contradiction arises the financial world represented by major banks and the conservative and closed postal system.
If the financial world wants to solve its own bad debt problem, the first thing it needs is a large amount of funds. In the past, they have always been eyeing the government's public funds, but public funds are of great importance after deducting the necessary government expenses, very limited things can really fall into their hands.
Therefore, they are now focusing on the money bag of postal savings, that is, they are focusing on the savings of the people. As long as the funds in the postal savings can be used, their troubles can be solved
Of course, applying national savings is a very dangerous thing. Without government guarantees or even lack of credibility, it is easy to cause panic among the people. In serious cases, it may even cause large-scale national riots.
However, these are not what the people of the Miyagi need to worry about. For them, governing the country and maintaining peace is the business of politicians, and what they need to do is to play with money. There is absolutely no such thing as worrying about the country and the people in the attributes of capital.
Therefore, for Kita Kitaki, the next stage of strategy is to prevent the political expansion of the Koizumi faction on the one hand, and on the other hand, we must also find ways to attack the postal system and promote the implementation of the postal system reform.
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