The Capitalist Witch Hunt Continues in Japan

by: Steven Towns

The Japanese government and the opposition party in particular act as if there is a capitalist witch hunt going on and not even the Bank of Japan governor is immune. Of course you don't want to see central bankers playing the market while they are supposed to be focused on monetary policy. However, the opposition party leaders are opportunists and are blowing this way out of proportion. The last thing Japan needs is another shock to the stock market and hopefully the so-called "Fukui shock" -- named after BoJ governor Toshihiko Fukui's 10 million yen ($87,000) investment in recently indicted Yoshiaki Murakami's popular investment fund -- will not induce any mass selling.

You can read about this story in more detail by clicking here for Yahoo! Finance/AP coverage and here for coverage.

Read about the arrest of Murakami here and here in previous Seeking Alpha - Japan coverage.

Lastly, click here to read about the BoJ's unchanged assessment of the economy and decision not to change monetary policy following its latest two-day meeting that ended overnight in Japan.

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