Tuesday, January 24, 2006

POSTER BOY OF REFORMS FALLS FROM GRACE

Last night, I believe the whole of Japan was glued to the TV while I had my ears plugged to the radio...

The man touted as the Poster Boy of the Koizumi Reforms fell from grace after he was arrested last night on suspicion of securities law violations.

Takafumi Horie is only 33 years old... suspected of spreading rumors and filing false financial reports with the aim of boosting share prices.

He sits (or sat, already?) on the apex of the huge internet company LiveDoor, a firm he first sat up while a student at Tokyo University...

Over 10 years, he bought up over 40 companies.

Can you imagine buying an average of 4 companies a year?

In the last elections, Horie stood as a candidate in Hiroshima, pitted against Kamei, a seasoned politician who broke away from the LDP.

During the campaign, Koizumi and his lieutenants profusely praised Horie as being the epitome of success from his reforms...

He lost the election...

Investigators arrested him after just one week of intense investigations...

Compare that to that blue eye Poster Boy of the NEP who also fell from grace some years ago...

But instead of the possibility of facing any charges, he is enjoying his nasi lemak in the comforts of his chateau...

Even as slimy mud is being slung at his face by the courts...