JAPAN: Narrow but Safe

"When a cooking pot begins to stink, it's time to put the lid on." That was the advice the influential Tokyo Shimbun recently flung at Premier Shigeru Yoshida, 75. A government corruption scandal of Teapot Dome proportions threatened to overturn Yoshida's conservative coalition government. Everyone wondered whether shrewd, durable Premier Yoshida would be able to meet this challenge.

The stink began to rise three months ago when a Korean confidence man named Masutomi Ito was arrested for bilking thousands of small investors of some $3,000,000 in an investment-trust racket. Swindler Ito spent part of his plunder on such delicacies as...

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