This page has been archived and commenting is disabled.

In Harbinger Of Things To Come, Indonesian Parliament Begins Criminal Investigation Into Bank Bailouts

Tyler Durden's picture





 

So far the commingling between financial and political forces has passed without many glitches both domestically and globally. This is starting to change. We read in Newser that the "Indonesian's parliament called for a criminal investigation into a $715 million government bank bailout." In addition to Indonesia president Suslio Bambang Yudhoyono, others implicated include Vice President Boediono, a former central bank governor who goes by a single name, and Finance Minister Sri Mulayani Indrawati. Something tells us that the miraculous market recovery in Indonesia has not proceeded quite as effortlessly as the one in the US. Which also explains why the Fed and its cohorts are so set on reflating the market as they are well aware of the opportunity cost. Once the market takes the inevitable leg lower, we expect that the general public hatred against the multi trillion bailout of the US financial system may finally yield comparable criminal prosecution in America as well.

More from Newser:

Following a parliamentary committee investigation of corruption allegations arising from the transaction, 325 legislators in the 560-seat House of Representatives voted for a criminal probe. Another 212, mostly from Yudhoyono's Democratic Party, argued the bailout had necessarily prevented a systemic meltdown of the country's financial system amid the global economic crisis.

The parliamentary motion that passed said the bailout was "against the law or an abuse of power by monetary authority officials ... which could be classified as corruption crime."

National police spokesman Maj. Gen. Edward Aritonang said police would follow the recommendations and launch an investigation.

Yudhoyono's "fierce lobbying" had achieved an important point because neither Boediono nor Indrawati was named in the motion, the Jakarta Globe newspaper said Thursday.

Boediono declined to answer questions about the vote, but told reporters, "In every age, God has always sided with the truth."

On the other hand, one of the key findings of this crisis is that the American people are some of the laziest, most apathetic individuals known in history. There is the distinct possibility that even a market crash to 0 will not result in any pro/retroactive changes, so long as the prime time TV line up remains unchanged.

 

 

 


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Thu, 03/25/2010 - 09:52 | Link to Comment lsbumblebee
lsbumblebee's picture

Is that "million"? With an M?

Thu, 03/25/2010 - 10:01 | Link to Comment Cookie
Cookie's picture

Take nothing from this; Indonesia is one of the very few countries more corrupt than here in Thailand, there will be many hidden agendas

Thu, 03/25/2010 - 10:12 | Link to Comment jailnotbail
jailnotbail's picture

Indonesia, indeed. Sir, the United States may have appeared to be a bit of a late starter, but I maintain that we hold a candle to no one, in this hemisphere or any other, when it comes to corruption and hidden agendas.

The chant "We're number one," still means something in America.

Thu, 03/25/2010 - 10:32 | Link to Comment DaveyJones
DaveyJones's picture

And besides, we have our own Indonesian now

Thu, 03/25/2010 - 10:03 | Link to Comment Cookie
Cookie's picture

.....of course the USA has moved into the top 10 too of late

Thu, 03/25/2010 - 10:06 | Link to Comment drbill
drbill's picture

There's virtually no difference between the "cops" and "criminals" here. I'll be very (pleasantly) surprised if we ever see an indictment.

Thu, 03/25/2010 - 10:23 | Link to Comment Postal
Postal's picture

Of course there's a difference: The "cops" have the blessing of the state, which makes their behavior legally acceptable. The non-blessed (individual, business, mob) doing the same thing is illegal, however.

Thu, 03/25/2010 - 10:09 | Link to Comment Jean Valjean
Jean Valjean's picture

Nothing illegal here in the US.  Our lawmakers blessed our bailout.

Then again:

"Lawless laws are an invitation to lawlessness"

Thu, 03/25/2010 - 10:20 | Link to Comment Postal
Postal's picture

On the other hand, one of the key findings of this crisis is that the American people are some of the laziest, most apathetic individuals known in history.

Well, when the Constitutional duties of the President (i.e., State of the Union) are not allowed to interfere with American Idol... Priorities, man. Priorities.

Thu, 03/25/2010 - 12:02 | Link to Comment Problem Is
Problem Is's picture

You don't have to read American Idol.

Constitutional duties of the President ? Might have to read and think there. We know the American public hate to read... just too much work.

Thu, 03/25/2010 - 10:28 | Link to Comment rapier
rapier's picture

Financial and political forces have always been linked and in no nation has that ever been more true than the US.  That's why economics used to be called the study of the political economy.  Has that made the US some kind of hell on earth? Not at all.

It's funny that all the wailing and knashing of teeth about political and social issues on the left and the right start from the implication that America is an awful terrible place to live. Mostly for somebody else. Get a grip.

Indonesia?  You have to be kidding.  The government of Indonesia means a thing? Governments noplace stand a chance, except in China. For now. The New World order is making government the junior partner. It will have some good points and some bad points. For all the good people here with some assets the good will be very good.

Stop bitching. So the new boss is just an evolution from the old boss. Somebody is always going to be boss. Live your life and don't worry about it.

Thu, 03/25/2010 - 10:59 | Link to Comment Postal
Postal's picture

Live your life and don't worry about it.

Ah, but there's the rub: The governments of the world won't let us live in peace. All I ask is to be left alone, and all the bosses want is everything I have.

Thu, 03/25/2010 - 11:00 | Link to Comment deadparrot
deadparrot's picture

Indonesia has a long history of lashing out at the small minority of wealthy ethnic Chinese whenever there is an economic crisis. This is not surprising.

Thu, 03/25/2010 - 11:35 | Link to Comment Rick64
Rick64's picture

Oh yea, a lot of built up resentment which doesn't take much to ignite.

Thu, 03/25/2010 - 12:08 | Link to Comment Problem Is
Problem Is's picture

"On the other hand, one of the key findings of this crisis is that the American people are some of the laziest, most apathetic individuals known in history. There is the distinct possibility that even a market crash to 0 will not result in any pro/retroactive changes, so long as the prime time TV line up remains unchanged."

The Musings of "Astute" Tyler

Although "Sarcastic" Tyler is clearly my favorite, "Analytical" Tyler has my enduring respect, sometimes "Astute" Tyler is the most insightful Tyler of them all. It is as if Tyler actually knows these Amerikan rabble...

$2 Big Macs and Budweiser

The oligarchy has learned is a cheap price to pay to keep the rabble pacified.

Thu, 03/25/2010 - 16:14 | Link to Comment downrodeo
downrodeo's picture

Outrage is what will spur people into action. Of course, that does beg the question, can we get outraged about anything anymore?

Tue, 04/13/2010 - 06:33 | Link to Comment mark456
mark456's picture

ucvhost is a leading web site hosting service provider that is known to provide reliable and affordable hosting packages to customers. The company believes in providing absolute and superior control to the customer as well as complete security and flexibility through its many packages. cheap vps Moreover, the company provides technical support as well as customer service 24x7, in order to enable its customers to easily upgrade their software, install it or even solve their problems. ucvhost offers the following different packages to its customers

Do NOT follow this link or you will be banned from the site!