Japanese Ire at U.S. Rises Over Markets

With stocks plummeting, economists in Japan warn that U.S. authorities risk making the same mistakes Japan made when banks there collapsed A man walks by an electronic board displaying share prices on October10, 2008, in Tokyo, Japan. The Nikkei 225 index fell below 9,000 for the first time since June 2003. Koichi Kamoshida/Getty Images A month ago market-watchers in Japan were praising U.S. Treasury Secretary Hank Paulson and his attempts to fix the U.S. financial system. Many of those who had watched as Japan took years to mend its own broken financial system in the 1990s gave the former Goldman Sachs banker solid reviews, citing his decisiveness and banking experience. Paulson, they said, was a sharp contrast to Japan's bureaucrats, who had dithered and been reluctant to take responsibility during the 1990s. But that was... [read full story]