God knows all the details. I've always believed that the Fed had control over financial markets, and that is more evident now. Based on all materials and research, it is evident that Armstrong was framed.
Japan Minister Quits, but Hurdles Remain for PM Kan
| 21 Nov 2010 | 11:04 PM ET
Japan's justice minister resigned on Monday in an effort to avoid a gaffe delaying the enactment of an extra budget through a divided parliament, but hurdles remain for struggling Prime Minister Naoto Kan.
The latest woe to hit Kan's government, remarks by Minoru Yanagida that critics said made light of parliamentary deliberations, had threatened to delay a 4.4 trillion yen ($52.7 billion) extra budget to bolster an economy beset by deflation and a strong yen .
| 21 Nov 2010 | 11:04 PM ET
Japan's justice minister resigned on Monday in an effort to avoid a gaffe delaying the enactment of an extra budget through a divided parliament, but hurdles remain for struggling Prime Minister Naoto Kan.
The latest woe to hit Kan's government, remarks by Minoru Yanagida that critics said made light of parliamentary deliberations, had threatened to delay a 4.4 trillion yen ($52.7 billion) extra budget to bolster an economy beset by deflation and a strong yen .
"We need to pass the extra budget as soon as possible for the people's livelihoods, so I offered to resign after speaking to the prime minister," Yanagida told a news conference.
Analysts said Yanagida's resignation was unlikely to be a game-changer for Kan's government, although the affair is hardly a plus for an administration whose voter ratings are already sagging below 30 percent.
"The fact that he is quitting probably means that deliberations on the (extra) budget are in sight," said Tomoaki Iwai, a political science professor at Nihon University.
"It's in sight, but it could be halted again if something happens, and we can't be optimistic ... The fundamental issues have not been resolved and talks between the ruling and opposition parties are not working."
Support for the five-month-old government has been eroded by voter discontent with Kan's handling of territorial rows with China and Russia and a funding scandal dogging a ruling party powerbroker.
A survey by the Mainichi newspaper released on Monday showed support for Kan's government at 26 percent, down 23 points from the previous poll in October, and 71 percent of respondents said Yanagida should resign over his gaffe.
In the poll, 20 percent of the respondents said they supported Kan's ruling Democratic Party, down 11 points from the last poll, while 18 percent said they supported the main opposition Liberal Democratic Party (LDP), up 4 points.
Chief Cabinet Secretary Yoshito Sengoku told a parliamentary committee he will take on the justice portfolio in addition to his role as the government's No.2.
Censure Motion
The LDP was set to submit a non-binding but embarrassing censure motion against the justice minister on Monday in the opposition-controlled upper house if he did not resign, media reports said.
It is also considering submitting censure motions against Sengoku and the transport minister, Kyodo news agency reported, citing a party official.
Yanagida had come under fire for comments made to local supporters earlier this month that critics said made light of parliamentary deliberations.
Opposition parties have been trying to make the most of the government's woes. Although delaying the budget process by grilling cabinet ministers on gaffes and diplomatic spats could risk public ire, Kan's weak support has made it difficult for rivals to cooperate with him on policy.
Budget bills, even if rejected by the upper house, become law within 30 days of approval by the more powerful lower house. The extra budget was approved by the lower house last Tuesday.
Kan's Democratic Party of Japan swept to power last year pledging to give consumers more cash to boost domestic demand and to reduce elite bureaucrats' control of policies.
But his predecessor quit in June after voters' perception that he was indecisive slashed the government's ratings and the DPJ suffered a stinging defeat in a July upper house poll, handing control of the chamber to the opposition.
URL: http://www.cnbc.com/id/40306455/
Analysts said Yanagida's resignation was unlikely to be a game-changer for Kan's government, although the affair is hardly a plus for an administration whose voter ratings are already sagging below 30 percent.
"The fact that he is quitting probably means that deliberations on the (extra) budget are in sight," said Tomoaki Iwai, a political science professor at Nihon University.
"It's in sight, but it could be halted again if something happens, and we can't be optimistic ... The fundamental issues have not been resolved and talks between the ruling and opposition parties are not working."
Support for the five-month-old government has been eroded by voter discontent with Kan's handling of territorial rows with China and Russia and a funding scandal dogging a ruling party powerbroker.
A survey by the Mainichi newspaper released on Monday showed support for Kan's government at 26 percent, down 23 points from the previous poll in October, and 71 percent of respondents said Yanagida should resign over his gaffe.
In the poll, 20 percent of the respondents said they supported Kan's ruling Democratic Party, down 11 points from the last poll, while 18 percent said they supported the main opposition Liberal Democratic Party (LDP), up 4 points.
Chief Cabinet Secretary Yoshito Sengoku told a parliamentary committee he will take on the justice portfolio in addition to his role as the government's No.2.
Censure Motion
The LDP was set to submit a non-binding but embarrassing censure motion against the justice minister on Monday in the opposition-controlled upper house if he did not resign, media reports said.
It is also considering submitting censure motions against Sengoku and the transport minister, Kyodo news agency reported, citing a party official.
Yanagida had come under fire for comments made to local supporters earlier this month that critics said made light of parliamentary deliberations.
Opposition parties have been trying to make the most of the government's woes. Although delaying the budget process by grilling cabinet ministers on gaffes and diplomatic spats could risk public ire, Kan's weak support has made it difficult for rivals to cooperate with him on policy.
Budget bills, even if rejected by the upper house, become law within 30 days of approval by the more powerful lower house. The extra budget was approved by the lower house last Tuesday.
Kan's Democratic Party of Japan swept to power last year pledging to give consumers more cash to boost domestic demand and to reduce elite bureaucrats' control of policies.
But his predecessor quit in June after voters' perception that he was indecisive slashed the government's ratings and the DPJ suffered a stinging defeat in a July upper house poll, handing control of the chamber to the opposition.
URL: http://www.cnbc.com/id/40306455/
