NEW YORK - The blame game of who is at fault for the nuclear disaster, while still continuing has taken a back seat to the second most popular game, The Guessing Game. The guessing game is where analysts predict what they think something will cost. In this case, analysts will try to guess the liability for Tokyo Electric, popularly known as Tepco.
Tokyo Electric is still looking to contain radiation at its troubled Fukushima Daiichi plant which supplied approximately 7% of the company's total electric power before the earthquake and tsunami on March 11.
An analyst today started off the numbers crunch saying the disaster will cost 11 trillion yen if the crisis lasts two years. The last time the analysts checked their guessometers was during the mortgage put-back fiasco in the United States. Some analysts estimated liabilities to be in the hundreds of billions of dollars for the major U.S. Banks, numbers which, as of today have yet to come close to fruition.
Some analysts believe shareholders will be wiped out, however they believe debtholders will remain intact if there is a nationalization plan for the beleaguered company. Tsunehisa Katsumata, Chairman of Tepco, has taken over the role of President for Masataka Shimizu who has not been seen in public since March 13 and has recently been hospitalized.
The shares are currently up 7% today in early Japanese trading.
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