Japan's Prime Minister Announces Resignation

Japanese Prime Minister Yukio Hatoyama announced Wednesday he will resign after eight months in power. "I'm going to step down," Hatoyama declared in a live broadcast on Japanese television NHK, while addressing party members of both the upper and lower houses of the Diet, Japan's parliament. "I have had many shortcomings, I have been allowed to lead all of you for the past eight months to today. I am extremely grateful for having been given this opportunity," he said. Eight months ago, Hatoyama's Democratic Party of Japan won a sweeping victory, an outcome hailed by many as a revolution in Japanese politics. With promises of a cleaner government, Hatoyama worked to shift the political dynamics in Japan by taking away power from the bureaucrats and granting more power to politicians and local governments.