COMMENTARY BY THE MALAYSIAN INSIDER
12 November 2014
So much has happened over the years that one is forgiven for forgetfulness about what went wrong or right in Malaysia.
Malaysians have seen a series of financial scandals, each that seem bigger than the previous one.
Right now, the focus is on 1Malaysia Development Berhad (1MDB). Everyone is concerned about its debts and the government’s liability if it fails. That includes Tun Dr Mahathir Mohamad and Tun Daim Zainuddin, and rightly so, as the two men navigated Malaysia through tough economic times in the past.
But what about the huge gaping hole called Perwaja, not to mention Malaysia Airlines (MAS) and PKFZ during Dr Mahathir’s long 22 years in power. Or Maminco or Bank Negara’s forex scandal if that ever strikes one’s minds.
Weren’t they scandals that hogged the headlines in the past, only to be quickly dismissed by the government of the day and either government guarantees or public funds poured in to bail them out? Continue reading “‘Tis the season of forgetfulness over financial scandals”