Have you made a donation to your local LDP politician lately? I hope not. If you read the Nikkei on the weekend of the 26th October you might have noticed the two page spread (p6~7) detailing the assets of the senior (and not so senior) members of the new Aso cabinet. Given the amount of corruption in Japanese bureaucracy, it sounds like a good idea to force a certain amount of disclosure so that citizens can understand where vested interests might lie, but does this really help us to discover the financial worth of the politicians here?
For a start, in Japan there is no need to disclose any bank deposits that are on call. With Japanese interest rates as they are, something like 60% Continue reading Aso’s Hidden Wealth: How “disclosure” works in Japan