How much sooner would this have happened if Tepco was a genuine private company?

Tepco has not gone bankrupt simply because it is being bailed out by the government. Financial aid from the government-backed Nuclear Damage Liability Facilitation Fund is expected to reach 3.4 trillion yen. The figure is already far higher than the 350 billion yen or so that Japan Airlines Co. received from the government and the roughly 2 trillion yen that went to Resona Holdings Inc. 8308.

In Tepco’s case, government aid will continue to grow unless the firm can plug the hole in the bucket.

Given this grim reality, what needs to be done is evident. Power rates need to go up so that Tepco can pay compensation for the nuclear accident and provide a stable supply of power. And some of its idled nuclear reactors need to be brought back online after their safety has been confirmed to curb the increase in power rates.

via 2012/03/30 05:38 – OPINION: There Are Solutions To Tepco’s Financial Woes.

The reason for my title, if you haven’t spotted it already, can be explained in this video. It’s a cultural reference to a line from the British comedy series, “Fawlty Towers” (and here for Japanese readers).