Identifier
Created
Classification
Origin
08TOKYO2532
2008-09-16 08:35:00
UNCLASSIFIED
Embassy Tokyo
Cable title:
TOKYO MEDIA REACTION - GLOBAL ECONOMY
how-toVZCZCXRO3622 PP RUEHFK RUEHKSO RUEHNAG RUEHNH DE RUEHKO #2532 2600835 ZNR UUUUU ZZH P 160835Z SEP 08 FM AMEMBASSY TOKYO TO RUEHC/SECSTATE WASHDC PRIORITY 7247 RUEKJCS/SECDEF WASHDC PRIORITY RUCPDOC/USDOC WASHDC PRIORITY RUEATRS/DEPT OF TREASURY WASHINGTON DC PRIORITY RUYNAAC/COMNAVFORJAPAN YOKOSUKA JA PRIORITY RHHMUNA/HQ USPACOM HONOLULU HI PRIORITY RHHMHBA/COMPACFLT PEARL HARBOR HI//N541// PRIORITY 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 9865 RUEHNH/AMCONSUL NAHA 2225 RUEHNAG/AMCONSUL NAGOYA 7977 RUEHKSO/AMCONSUL SAPPORO 0441 RUEHOK/AMCONSUL OSAKA KOBE 3606 RUEHBJ/AMEMBASSY BEIJING 5341 RUEHMO/AMEMBASSY MOSCOW 2529 RUEHUL/AMEMBASSY SEOUL 1339 RUCNDT/USMISSION USUN NEW YORK 1649 RHEHAAA/NSC WASHDC
UNCLAS TOKYO 002532
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 - GLOBAL ECONOMY
UNCLAS TOKYO 002532
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 - GLOBAL ECONOMY
¶1. LEAD STORIES: There were no papers published on
Tuesday morning due to a press holiday. Broadcasters
gave top play to the announcement on Monday by Lehman
Brothers that it has filed for bankruptcy protection.
¶2. "Avoiding Worst-Case Scenario for Global Economy"
The liberal Asahi editorialized (9/15): "...The
Department of the Treasury took control last week of
Fannie Mae and Freddie Mac, the two troubled housing
mortgage insurance firms. The move was one step short
of nationalization.... However, there is no end in
sight to the crisis in the U.S. financial system and
the deterioration of the global economy. On the
contrary, they are both likely to worsen. If the dollar
were to collapse due to the financial crisis and a
recession in the U.S., the damage to the global economy
would be immeasurable. As they look to prevent a worst-
case scenario while searching for a path toward
recovery, the U.S. and world economies will likely face
rough going in the days ahead."
SCHIEFFER