[Pontiac]

According to the AEI's Institute for Public Policy Research, Japan's banks have a NEGATIVE net worth of $1 TRILLION! And yet, the banks continue to dole out huge loans to failing companies. .

This is probably Japan’s biggest mistake. Had these companies been forced into bankruptcy (cut off from new loans) and their assets sold, new companies with better management would have arisen to take the place of the failed firms.

Cronyism fails were ever it arises because it protects failure.

[weikel]

They are also protectionist which drives up prices for everyone.