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Fukushima, the Great Recession and Other Crises All Caused by Crony Capitalism

Posted By Washingtons Blog On November 18, 2013 @ 1:30 am In Think Tank | Comments Disabled

Japan Is Being Destroyed By Criminal Corporate Cronyism (Like the Rest of the World)

Tepco’s criminal actions have worsened the Fukushima disaster:

  • Tepco just admitted that it’s known for 2 years [12] that massive amounts of radioactive water are leaking into the groundwater and Pacific Ocean
  • Tepco’s recent attempts to solidify the ground under the reactors using chemicals has backfired horribly [16]. And NBC News notes [17]: “[Tepco] is considering freezing the ground around the plant. Essentially building a mile-long ice wall underground, something that’s never been tried before to keep the water out. One scientist I spoke to dismissed this idea as grasping at straws, just more evidence that the power [18] company failed to anticipate this problem … and now cannot solve it.”

And yet Tepco is still in charge of Fukushima … and is making record profits [21].

And Japan will likely pass a new anti-whistleblowing law in an attempt to silence criticism of Tepco and the government [22]:

Japanese Prime Minister Shinzo Abe’s government is planning a state secrets act that critics say could curtail public access to information on a wide range of issues, including tensions with China and the Fukushima nuclear crisis.

The new law would dramatically expand the definition of official secrets and journalists convicted under it could be jailed for up to five years.

In reality, reporters covering Fukushima have long [23] been harassed [24] and censored [25].

This is exactly like the financial crisis, the BP oil spill and other major disasters [26]crony capitalism [27] between corrupt corporations and captured governments is ruining our lives.


Article printed from The Big Picture: http://www.ritholtz.com/blog

URL to article: http://www.ritholtz.com/blog/2013/11/fukushima-the-great-recession-and-other-crises-all-caused-by-crony-capitalism/

URLs in this post:

[1] Engineers warned Tepco and the Japanese government many years before the accident: http://www.washingtonsblog.com/2011/11/engineers-knew-fukushima-might-be-unsafe-but-covered-it-up-and-now-the-extreme-vulnerabilty-of-new-u-s-plants-is-being-covered-up.html

[2] fatally damaged before the tsunami hit … the earthquake took them out even before the tidal wave hit: http://www.washingtonsblog.com/2012/07/japanese-parliamentary-inquiry-fukushima-disaster-caused-by-collusion-among-government-regulators-and-tepco.html

[3] tore down the natural seawall which would have pretended the tsunami: http://www.washingtonsblog.com/2013/11/tepco-destroyed-the-natural-seawall-which-would-have-protected-fukushima-from-the-tsunami.html

[4] repeatedly falsifying safety tests: http://online.wsj.com/news/articles/SB10001424052748703363904576200533746195522

[5] cracked reactor core containment vessel: http://www.bloomberg.com/news/2011-03-23/fukushima-engineer-says-he-covered-up-flaw-at-shut-reactor.html

[6] other serious problems : http://www.washingtonsblog.com/2011/04/ongoing-cover-up-of-nuclear-crisis-by.html

[7] “man-made” disaster, caused by “collusion” between government and Tepco and bad reactor design: http://www.washingtonsblog.com/2013/04/fukushima-falling-apart-because-plant-operator-has-no-incentive-to-spend-money-to-fix-it.html

[8] 3 nuclear reactors had lost containment: http://www.washingtonsblog.com/2011/05/three-nuclear-containment-vessels-leaking-in-japan-but-u-s-law-is-based-on-assumption-that-it-is-impossible-for-containment-vessels-to-leak.html

[9] “gone missing”: http://www.washingtonsblog.com/2012/01/tepco-drills-a-hole-in-fukushima-reactor-finds-that-nuclear-fuel-has-gone-missing.html

[10] no real containment: http://www.washingtonsblog.com/2013/02/nuclear-expert-the-melted-core-cracked-the-containment-vessel-there-really-is-no-containment-at-fukushima-reactors.html

[11] pretending : http://www.washingtonsblog.com/2011/12/announcement-of-cold-shutdown-of-fukushima-reactors-is-based-on-a-political-decision-rather-than-science.html

[12] known for 2 years: http://www3.nhk.or.jp/nhkworld/english/news/20130810_99.html

[13] pretending: http://www.washingtonsblog.com/2013/01/fukushima-decontamination-measures-are-making-things-worse.html

[14] see this: http://no-border.asia/archives/9257

[15] Yakuza gang members from criminal shell companies: http://gizmodo.com/5816374/yakuza-lies-and-danger-are-only-a-few-reasons-to-hate-tepco

[16] backfired horribly: http://www.washingtonsblog.com/2013/08/fukushima-worse-than-you-know.html

[17] notes: http://www.nbcnews.com/video/nightly-news/52718251/#52718251

[18] power: http://www.washingtonsblog.com/2013/08/if-a-doctor-killed-patients-doing-routine-surgery-and-then-tried-to-cover-it-up-would-you-let-him-do-brain-surgery-on-a-vip.html#

[19] letting a convicted murderer perform delicate brain surgery on a VIP: http://www.washingtonsblog.com/2013/08/if-a-doctor-killed-patients-doing-routine-surgery-and-then-tried-to-cover-it-up-would-you-let-him-do-brain-surgery-on-a-vip.html

[20] international team of the smartest engineers and scientists: http://www.washingtonsblog.com/2012/05/senator-fukushima-fuel-pool-is-a-national-security-issue-for-america.html

[21] making record profits: http://www.zerohedge.com/contributed/2013-11-01/japan%E2%80%99s-most-hated-outfit-tepco-reports-fat-profit-taxpayer-bailout-money

[22] silence criticism of Tepco and the government: http://www.reuters.com/article/2013/10/24/us-japan-secrecy-idUSBRE99N1EC20131024

[23] long: http://enenews.com/economistcom-journalist-covering-fukushima-harassed-imprisoned-return-tokyo-names-people-met-fukushima-asked-officer

[24] harassed: http://enenews.com/journalist-reports-being-threatened-in-japan-by-an-official-at-gunpoint-ordered-to-sign-falsified-confession-implies-that-this-is-related-to-his-coverage-of-fukushima

[25] censored: http://enenews.com/japan-tv-journalists-on-fukushima-tour-ordered-to-put-cameras-down-as-radiation-readings-spiked-video

[26] exactly like the financial crisis, the BP oil spill and other major disasters: http://www.washingtonsblog.com/2011/04/japans-nuclear-melt-down-economic.html

[27] crony capitalism: http://www.washingtonsblog.com/2013/03/fed-president-too-big-banks-are-just-crony-capitalists.html

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