SCwatch


‘STEMMING CORRUPTION’ WILL REDUCE RISK OF ‘SYSTEMIC CRISIS’

I was watching Anwar Ibrahim’s recent speeches over in the YouTube and realize he is still an irritating pain in the butt for the UMNO led government! His oratory skills and charisma are indeed to be marveled at and the distribution of his speeches vide technology has enabled him to reach a wider audience ….. much to the consternation of the government inspite of the latter’s “Media Management” approach as opposed to the previously adopted “Media Control” regime.

His latest salvo on corruption and abuses by the politicians and the privileged strikes a chord not only with the educated but also the ordinary man on the street.

Malaysia is considered one of the countries where its people are exposed to high daily dosages of political dogma and rhetoric.

Politicians should therefore by now realize that the people are not really taken in by what the politicians say, rather it’s what they do that matters!! And this is where Barisan Nasional is losing ground to Pakatan Rakyat almost at an alarming rate.

The effectiveness of the Selangor and Penang government is for all to see. Kedah is quietly but efficiently getting by whilst Kelantan is getting loads of sympathy as a result of its treatment from the Federal Government on the oil royalty matter. Perak is waiting to revert back to Pakatan Rakyat!

The pressure on the UMNO led BN government is not helped on the international front either. Support from the Ruler of Qatar to Hillary Clinton’s words of support to Anwar must have riled the Malaysian administration!

So what is my point?

Stem the corruption. Enforce transparency in all transactions ….. and enforce it in substance and not in form ….. something that the audit firm, Ernst & Young, the auditor of Lehman,  is finding out to its own great cost.

Investigate wrong-doings swiftly and strictly. And if found guilty, impose the highest deterrent sentences possible in accordance with the law. Don’t slap them on the wrists. Don’t allow them to negotiate with you on the penalty!!

The local bench-mark to enacting good corporate governance is the Malaysian Securities Commission, who were again in the news today on its approach to strengthening governance issues. Zarinah Anwar is a breath of fresh air although I understand she has been with the organisation for some time.

I believe Zarinah is quite mindful of the lessons learnt from the strong criticism leveled at the SEC of the United States during the economic fall-out in 2007 and whose effects are still being felt today.

The not-so-kind description by whistle-blower Harry Markopolos of SEC’s failure to detect the Ponzi scheme of Bernard Madoff  is also a constant reminder to SEC Chairman, Mary Schapiro of her challenges ahead.

According to Markopolos, the reluctance of regulators to prosecute, possibly due to their lack of understanding of the figures and financial structures created by those Wall Street wizards, is a lesson that we should all learn from and rectify without delay.

We certainly don’t want regulators to be the constant butt of jokes in the corporate grape-vine like ‘Regulators who are averse to prosecute are like people who crave for sex and yet want to remain virgins’!!

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1 Comment so far
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To: Chua Soi Lek
From: Yeoh Leei Eng Hock
Agenda: Please bring MCA to Sarawak to save the good people from organised chinese criminals.
Subject: Ever since there were Chinese people on this earth there were gangsters who enforce their rules by an iron fist in the criminal business world.They made their fortunes from prostituition,gambling,illegal 4 Digits,loan sharking, smuggling,psychotropic drugs and others.By and large they do not touch the law abiding common people.
In Sarawak it is totally different.They collect one ringgit frpm every tray of egg that the people consumed.They collected 50 cents from every gas tank that the populace used in their house.The victims can be a single mother with five kids or a poor mountain man.The gangsters do not show any mercy.All the old homeless people collecting scraps from the dustbins have to sell their materials to these gangsters at half price.If any of these people shows any resistence molotov cocktails would be thrown at either their million dollar house or card board shacks.They show no fear,favor or mercy to anybody other than their own big bosses.
I have been to chinatowns around the world.There is no group of chinese gangsters that terrorise their own people in the same ways.
Only a evil chinese emperor will tax their own chinese population in those methods. We, Chinese in Sarawak are in the hands of an evil chineses.
Come and save us.,

Comment by Yeoh Leei Eng Hock




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