Questions on bank recapitalization<\/p>\n
In many instances our present Cabinet is as obstinate as its
\npredecessors in the old New Order regime. There has been
\npractically no sign of change in either manner or attitude in the
\nway the Cabinet manages state affairs, despite the demands for
\nreform. Anything outside the government is regarded as worthless
\nand must therefore be relegated to the waste bin. Observe, for
\nexample, how the government has responded to public queries about
\nthe takeover of seven banks even though initially only two
\npossibilities were mentioned of either a freeze or
\nrecapitalization. The government's reply to this question has
\nbeen formal and extraneous.<\/p>\n
What is especially startling is the effort which those
\ndecision-makers have been making to shroud the demerits of
\nparticular bankers. Consider, for example, the case of Bank
\nSanho, which under the initial plan was intended for
\nrecapitalization together with Bank Lippo. This plan was shelved
\ndue to particular problems. Now, the bank has been closed
\ntogether with 37 others. Why? Because, according to Bank
\nIndonesia, its managers and owners were considered errant. The
\npoint is that had no public fuss been made about the earlier plan
\nto recapitalize the bank, an errant banker would have been
\nallowed to stay in business, using public money.<\/p>\n
It is difficult to digest the reality that Bank Indonesia has
\nonce again been careless in examining and naming errant bankers
\nat Bank Sanho. There is thus good ground indeed for the public to
\nsuspect that foul play must have had a role in deciding which
\nbanks should be saved and which should die.<\/p>\n
One could ask a string of other questions about last week's
\nbank recapitalization policy, and all those questions would point
\nto only one fact: various interests, including political, are
\nstill part of the game.<\/p>\n
-- Media Indonesia, Jakarta<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/questions-on-bank-recapitalization-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }