02 Aug '12, 3pm

Japan bails out company behind Fukushima meltdown

Japan bails out company behind Fukushima meltdown

Remember how mad everyone got at the bank bailout? “I hate you banks!” people yelled, and, “I don’t like bailouts!” and, “We shouldn’t provide tax money to you, given the role you played in the financial crisis!” That last one was a very popular chant at Occupy Wall Street. Well, gang, it could have been far, far worse . The Japanese utility that operates the nuclear power plant sent into meltdown by last year’s tsunami received a trillion yen ($12.8 billion) public bailout Tuesday, effectively putting it under government control. Ha ha. Can you imagine? Imagine if the banks had not only contributed to a massive implosion of the economy, but also, through their own ineptitude , left huge portions of America uninhabitable. And then the government was like, It’s cool. We’ll help you out. Talk about toxic assets! (Please go click this button .) The Fukushima Dai-ichi plant, n...

Full article: http://grist.org/news/japan-bails-out-company-behind-fuku...

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