Tokyo Barrister: Start the law firm bankruptcy

Chapter 804 Guidance

"Why should our government agencies rescue the big banks?" Komuro continued. "Why should their mistakes be paid for with the hard-earned money of the people?"

"Of course, we often say 'too big to fail'. The so-called 'too big to fail' means that the scale of an enterprise is really too large. If it fails, it will affect a number of upstream and downstream companies and cause tens of millions of people to lose their jobs. Therefore, the state government must rescue these large enterprises."

"But I think this statement is problematic." Komuro pushed up his glasses. "Is it the big companies or the hardworking people in the big companies that support a country? This is a question we need to think clearly about. In my opinion, the real supporters are the latter."

"A healthy environment must tolerate the elimination of enterprises. This must be done even if the eliminated enterprises are large ones. There will certainly be pain in the process of elimination, but I think the greatest wealth of our country is not these large enterprises, but the people who live seriously and work hard every day. As long as these people are still there, there will always be new large enterprises. Because they are the driving force for enterprises to grow bigger and thrive."

"In my opinion, the active asset strategy promoted by Minister of Internal Affairs and Communications Terada is precisely hindering the elimination mechanism of market competition."

"In other words, you think that Minister of Internal Affairs and Communications Terada's active asset strategy has had the opposite effect?" asked the female host of TV Asahi.

Komuro nodded. "The active asset strategy was implemented ten years ago. The five banks that Eriko targeted tonight are Mitsubishi UFJ Bank, Mizuho Bank, Bank of Tokyo Central, Sumitomo Mitsui Banking Corporation, and Shinsei Bank. These banks are the first banks to pilot the active asset strategy."

"Therefore, Eriko's goal is clearly targeted." Komuro continued, "What kind of results have we seen from the ten-year active asset strategy? Our national government agencies have invested heavily in establishing five large asset management companies corresponding to five banks to acquire non-performing assets."

"The hard-earned money of the people helped banks that were plagued by bad loans. But have we seen any change in this situation today?"

"Not really." Komuro's tone began to become more intense. "On the contrary, our bank's bad debt ratio has actually been getting higher. You can also see from the recent Financial Services Agency's inspection of the Tokyo Central Bank that the big banks have adopted various fancy methods to cover up their bad debts."

"Our funding of banks has not only failed to change the way they operate, but has further stimulated them to be more imprudent in lending, after all, bad debts are always covered by asset management companies. Now, I suspect that the actual non-performing loan ratio of the five major banks may have far exceeded the regulatory red line."

"Far beyond the regulatory red line?" the female host asked in surprise.

Komuro nodded. "Crisis always happens when we least expect it. So, I think the active asset strategy previously promoted by Minister of Internal Affairs and Communications Terada was not correct. On the contrary, it led to the deformed system of Toyo Bank today."

What this scholar said is already very serious.

Throughout Terada's career, his active asset strategy has been promoted as a key achievement. His strategy was even called the life-saving pill for the recovery of the Japanese economy.

"Eriko's behavior is certainly wrong," Komuro continued, "but let's take a look at her demands. She asked the Accounting Inspection Office to audit the major loan projects of the five major banks and the personal assets of the former presidents. In the current lack of transparency, isn't this a reasonable request?"

"Are we going to continue to turn a blind eye and refuse to face the fact that our financial system is shaky?"

"The Eriko incident is a tragedy," Komuro said at last. "It is a tragedy born out of our country's deformed banking system. Even without Eriko, this contradiction would have erupted in other forms one day. Now, it has evolved into such a violent conflict, which is of course very regrettable and unfortunate. But I hope that all relevant personnel, that is, personnel from the Ministry of Finance and the Financial Services Agency, will pay attention to it."

Asahi TV's news coverage of Eriko has turned into a lengthy criticism of General Affairs Director Terada.

Under the influence of the report, the already angry public opinion on the Internet became even more turbulent.

Tokyo tonight——

Chaotic and disorderly

In order to put out the fire, a large number of roads were occupied, causing extremely serious traffic jams. The news of the bomb attack made the police restless, because they didn't know if similar incidents would happen again. In order to prepare for possible large-scale casualties, the hospital also reserved a lot of space and doctors and nurses on duty in advance, which greatly disrupted the normal night emergency treatment. However, behind all this chaos——

But it seems like there is an invisible hand.

Interfering with the evolution and direction of things.

Gradually guiding it towards the desired outcome.

……

……

……

At the same time, a black car was driving on a downtown road in Tokyo at night.

Sitting in the back seat was a man in his fifties.

The man had a square face and looked a little serious. His skin looked a little rough. Although he was wearing a formal suit, he looked like a man who had done heavy physical work. In the car, his eyes were not deliberately staring at a certain place, but even so, his gaze seemed to give people a sense of power.

This man is the Minister of Internal Affairs and Communications, Terada.

As early as this afternoon, he learned about the bomb attack in Tokyo through the cabinet's emergency information channel.

However, Terada could never have imagined that this attack would eventually be related to him.

Originally, he was attending the meeting remotely via video in his official residence.

But later, he saw the entire live broadcast of Eriko's phone call to the Asahi Shimbun.

Terada had never expected that the bomber tonight would reveal to everyone the loan transaction between his brother Makino Norin and Mizuho Bank. Moreover, he pointed the finger directly at himself, claiming that the huge loan was used as a donation for his participation in the congressional re-election at that time.

Terada knew that such accusations would have a devastating impact on his career.

There was no way he was going to sit there and wait for death.

There was no way he would let a crazy woman who was a bomber destroy his career.

The Unity Alliance will hold an emergency meeting at its headquarters tonight, tentatively scheduled for 10:30, to discuss its own donation scandal. Naturally, I must attend. Now, the destination of the vehicle is the headquarters of the Unity Alliance.

(End of this chapter)