 Loan sharks use 12.5 million yen to buy a law Akahata of September 12 reported that a lobbying group of the non-bank loan companies spent millions of yen to get a bill to ease regulations on the non-bank loaning business enacted. The group's documents show that the group used 12.5 million yen to purchase fund-raising party tickets for Liberal Democratic, Komei, and Democratic parties and entertain their lawmakers at luxurious restaurants when the Money-lending Control Law was being discussed in the Diet. Akahata found this in the industry's lobbying group (Zenseiren) and lawmaker's financial reports. Zenseiren bought fund-raiser tickets for 30 politicians, including Transport Minister Ishihara Nobuteru, DPJ President Okada Katsuya, and other finance-related parliamentarians. It also used money for bulk purchases of the LDP organ paper (700,000 yen) and Komei's daily (620,000 yen). Before the bills to revise the Investment Deposit and Interest Rate Law and the Money-lending Control Law were submitted to the Diet, Zenseiren frequently held informal gatherings, including a 850,000-yen dinner at a high-class Japanese restaurant with Dietmembers. In May this year, House of Representatives members Ueda Isamu (Komei) and Amari Akira (LDP) were present at the Zenseiren convention. Speaking at the convention, Ueda said, "I would like to offer as much cooperation as possible to your business." This is nothing but cozy relations between politicians and loan sharks who want the upper limits of lending rates to be further raised and high-interest rate loans to be made legal, reported Akahata on September 12. (end) |