March 11 2011, a 15m high tsunami wave struck Japan, it destroyed thousands of people and millions worth property.
A far more important event , with its far reaching consequence, which threatened the world was this wave hitting the Fukushima Daiichi Nuclear Power Plant of TEPCO company.
The cosequences resulting in failure of the plant and leakage of Radiation could have been avoided , had the Corporate Governance laws of Japan been properly working.
The lack of voted Directors and Special Steering Committees for special risk assessment and mitigation , led to TEPCO covering up many of its past failures.
Nobody was allowed to question.
Those who questioned and were the whistle blowers were not offered protection, matters were covered up but the basic framework was never strengthened.
Building a 7m high wall around the plant with a diesel powered Backup kept at the basement of the Plant was the result of ignoring the possibility that a 15m wave could also strike the island .
A 2001 whistleblower event led to the uncovering of 27 falsified inspection reports and much uproar by the public , but the company and the govt failed to take up concrete action instead only hushed it under by ignoring proper action.
The Fukushima Warning - WSJ.com
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