The government could then separate bad assets from good, appoint new managers and reprivatise the cleaned-up bits by selling them to investors (ideally, including some foreigners).

ECONOMIST: Japan's banks

But the move risks alienating some wealthy foreigners, including the Chinese, whose home-buying activity dropped markedly last year after the government imposed the original 10% surcharge.

WSJ: Singapore Fee Stings Wealthy House Buyers��Except Americans