Based on rumor, ultranationalists in the Ministry of Justice accused Finance Ministry officials and members of Prime Minister Makoto Saitō’s cabinet of bribery in the purchase of Taiwanese bank shares at artificially low prices. With the arrest of several of his cabinet ministers, Prime Minister Saitō dissolved his government.
Although all of the defendants were ultimately found innocent, and no financial irregularities were documented, public confidence in liberal democracy was seriously undermined and the ultranationalist position was further strengthened.
I keep thinking about the polarities we are now in and how things can and have been shifted, regressively, in the past and could happen again. Interesting how the public confidence was undermined. Holly