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Cablegate: Tokyo Media Reaction - Usg Bailout of Fannie

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PP RUEHFK RUEHKSO RUEHNAG RUEHNH
DE RUEHKO #2463 2530440
ZNR UUUUU ZZH
P 090440Z SEP 08
FM AMEMBASSY TOKYO
TO RUEHC/SECSTATE WASHDC PRIORITY 7112
RUEKJCS/SECDEF WASHDC PRIORITY
RUCPDOC/USDOC WASHDC PRIORITY
RUEATRS/DEPT OF TREASURY WASHINGTON DC PRIORITY
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RHHMUNA/HQ USPACOM HONOLULU HI PRIORITY
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RHMFIUU/HQ PACAF HICKAM AFB HI//CC/PA// PRIORITY
RUHBANB/OKINAWA FLD OFC US FORCES JAPAN CP BUTLER JA PRIORITY
RHMFIUU/USFJ PRIORITY
INFO RUEHFK/AMCONSUL FUKUOKA 9773
RUEHNH/AMCONSUL NAHA 2137
RUEHNAG/AMCONSUL NAGOYA 7891
RUEHKSO/AMCONSUL SAPPORO 0352
RUEHOK/AMCONSUL OSAKA KOBE 3514
RUEHBJ/AMEMBASSY BEIJING 5257
RUEHMO/AMEMBASSY MOSCOW 2525
RUEHUL/AMEMBASSY SEOUL 1251
RUCNDT/USMISSION USUN NEW YORK 1564
RHEHAAA/NSC WASHDC

UNCLAS TOKYO 002463

SIPDIS

STATE FOR I/RF, PA/PR/FPC/W, IIP/G/EA, EAP/PD, R/MR,
EAP/J, EAP/P, PM;
USTR FOR PUBLIC AFFAIRS OFFICE;
TREASURY FOR OASIA/IMI;
SECDEF FOR OASD/PA;
CP BUTLER OKINAWA FOR AREA FIELD OFFICE;
PACOM HONOLULU FOR PUBLIC DIPLOMACY ADVISOR

E.O. 12958: N/A
TAGS: OIIP KMDR KPAO JA
SUBJECT: TOKYO MEDIA REACTION - USG BAILOUT OF FANNIE
MAE AND FREDDIE MAC

1. LEAD STORIES: Front-page items on Tuesday morning
included DPJ President Ozawa's effective election on
Monday to a third term as head of the leading
opposition party, as no one filed to run against him,
as well as the official announcements on Monday by two
candidates for the presidency of the ruling LDP.

2. "More Needs to Be Done to Ease Anxieties About U.S.
Financial System" The business-oriented Nikkei
editorialized (9/9): "The U.S. has moved to rescue two
troubled housing mortgage firms, taking control of the
companies and injecting public funds. These measures
will head off a potential worldwide financial crisis
sparked by credit insecurity in the U.S. However, more
remains to be done to ease financial anxieties, as
housing prices continue to drop, and there are many
private financial institutions whose assets remain at
risk. The risk of a vicious circle of a credit crunch
and a deteriorating economy still remain."

ZUMWALT

© Scoop Media

 
 
 
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