"After the momentum has been taken away, fundamentals will take over, " said John Vail, chief global strategist at Nikko Asset Management in Tokyo.

WSJ: Japan Stocks Muster Gains After Wild Ride

"Japan could come out of this crisis as a real global leader, " reckons John Vail, chief global strategist at Nikko Asset Management in Tokyo.

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That was sheer judicial activism, says John Vail with the Center for Constitutional Litigation, a Washington law firm that frequently sues on behalf of plaintiffs it feels have been denied access to the courts.

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