Kotegawa: Massive Stimulus, Jail the Bankers, Shut Down Wall Street
Feb. 29, 2016 (EIRNS)—Daisuke Kotegawa, who oversaw various aspects of the Japanese financial institution crisis in Japan in 1997-2003, and who served as Japan’s representative at the International Monetary Fund from 2007-2010, told EIR today that the necessary measures to deal with the pending collapse of the Western financial system must begin with a "world-scale fiscal stimulus, such as the one introduced by China in the form of the AIIB" (the Asian Infrastructure Investment Bank). If this is done, he said, it would "create real demand and create new employment."
"But," he added,
"in order to avoid any attack by these weird investment banks, we have to at least block the national economies from the attacks from these bad investment bankers—and more favorably, we should destroy all of them—close down all of these investment banks. If you conduct a real examination of the balance sheets of these banks, using the method of ‘line sheets’ examination, this would surely reveal that these investment banks are actually insolvent."
Kotegawa has long insisted that Glass-Steagall legislation is required internationally, and that the bankers responsible for the the past and pending disasters must be jailed.