FOREIGN TRADE: Most Honorable Bull

For years, Japan's Zaibatsu clique ruled the nation's economy so tightly that most Japanese never dreamed of buying stocks. They felt that the game was the sort that only the Zaibatsu could win—and ordinary people who did chance it were regarded as harebrained gamblers. Many banks flatly prohibited loans to "known stock buyers." But at World War II's end, when U.S. occupation forces confiscated Japanese securities once worth $15 billion, they tried to stir up public interest in buying stocks, hoping to prevent the rise of any new dominant clique. With the help of occupation officials, the Japanese government...

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