Japan to Nationalize Fukushima Utility

[Fledermaus]

TOKYO — Japan is ready to nationalize Tokyo Electric Power, the operator of the ravaged Fukushima Daiichi nuclear power plant, under a 1 trillion yen ($12.5 billion) bailout plan that was approved on Wednesday.

http://www.nytimes.com/2012/05/10/business/global/japan-to-nationalize-fukushima-utility.html

[PoliticAverse]

1. Privatize the profits, socialize the losses. n/t

[teddy51]

2. So the whole nation can get in on paying the loses. What a wonderful thing.

[Art_from_Ark]

3. There's really not much else the government can do

TEPCO provides electricity to roughly a third of Japan's population (including me), as well as to a significant part of its industrial and transportation base, not to mention the numerous business and government buildings in and around Tokyo, so it is essential that TEPCO's services be maintained.

[Fledermaus]

4. The average person in Japan will pay, but there is a small group that has profited from nuclear power

at the expense of every one else.

[Art_from_Ark]

5. Certainly no one in Japan is profiting from nuclear power right now

And Japan is a little different from the US-- there is greater expectation here in Japan for everyone to help in pulling through hardships like this, and the rich don't get a free ride.