Prime Minister Hatoyama Resigns

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    The reign of “Loopy Hatoyama” has come to an end:

    Japan Prime Minister Yukio Hatoyama told leaders of the ruling Democratic Party of Japan that he will resign, N-H-K Television said, without saying where it got the information.

    Hatoyama told reporters earlier that he would outline his stance on whether to stay in his post at a meeting of DPJ legislators at 10 a.m. amid mounting calls for him to step down.

    “I would like to explain my thinking at the meeting,” Hatoyama said outside his office in Tokyo. “I will also listen firmly to what others have to say.”

    Calls within the DPJ for Hatoyama to resign have grown after polls this week showed 4 in 5 voters disapprove of his job performance with six weeks to go before mid-term elections. Hatoyama met last night with Ichiro Ozawa, the party’s No. 2 official and campaign chief, to discuss his future.

    The Hatoyama resignation has been confirmed since the printing of that article. Seconds ago, TV news also reported that Secretary General Ichiro Ozawa will be resigning.

    Hatoyama is in the process of giving an resignation speech on live TV, and he looks pretty sad.

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