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