To win opposition support for Diet passage of government-proposed financial system stabilization bills, the ruling Liberal Democratic Party on Wednesday came up with a set of compromise proposals, including a plan to allow the government to purchase all shares of failed banks and bring them under state control.

The compromise was presented to opposition parties during a meeting of directors of the House of Representatives Committee on banking system problems to set the stage for full-scale negotiations to revise the bills to reform the nation's ailing banking system.

The opposition side rejected the LDP plan as "unacceptable," but the committee directors from both sides agreed to meet again this afternoon to continue talks to revise the bills.