Punish guilty bankers

Punish guilty bankers

Rumors of misuse by ailing banks of the Bank Indonesia
Liquidity Aid (BLBI) have been circulating for some time. It was
only yesterday (Tuesday), though, that the State Audit Board
(BPKP) reported finding evidence of such cases. Even though the
board chief Soedarjono did not mention the names of the banks
involved, his statement naturally served to confirm those rumors.
The agency promised to conduct investigation of those cases more
intensively. What was even more disturbing, though, was his
assertion that the money had apparently been used not only to
cover cash outflows during past runs on the banks, but to pay
bonuses to members of the banks' boards of directors as well, and
also for derivative transactions and foreign exchange
speculation.

Naturally, if the board chairman's statement should be proved
true, it is unacceptable for owners of those banks to be allowed
to continue to operate as they do. We must support BPKP's efforts
to thoroughly investigate any cases that involve the misuse of
money belonging either to the public or the state. It would be
grossly unfair to punish only ordinary pickpockets and robbers.
Felonious bankers must not be allowed to remain free while petty
street criminals are sentenced on the spot. Obviously it is
unthinkable to shoot culpable bankers on the spot, but stern
measures that are in proportion to their misdeeds must be taken
against them.

-- Bisnis Indonesia, Jakarta