In his new book on the world’s latest financial crisis hotspots, “Boomerang: Travels In the New Third World”, journalist Michael Lewis wrote about how the then new Greek Minister of Finance George Papaconstantinou found out when he took office in October 2009 that his country had cooked its deficit figures with a budget deficit of 12.7% of GDP, four times more than the eurozone’s limit, and a public debt of US$410 billion. The projected Greek deficit of roughly 7 billion euros was actually more than 30 billion.
At his first monthly meeting with European Finance Ministers after he told his counterparts his shocking discovery, a European Finance Minister came up to him and said: “George, we know it’s not your fault, but shouldn’t someone go to jail?”
This is the same question many Malaysians are now asking about the RM250 million National Feedlot Centre (NFC) scandal, especially after the shocking claim by the UMNO Youth leader Khairy Jamaluddin that the purchase of an RM10 million condominium from funds meant for cattle production was a “strategic move”, so that the money would not lie idle.
The Prime Minister, Datuk Seri Najib Razak or his Deputy Prime Minister, Tan Sri Muhyiddin Yassin, who was Agriculture Minister when the NFC project was first mooted and approved, should answer this question in the minds of most Malaysians: “Shouldn’t someone go to jail?” Continue reading “The RM250 million National Feedlot Centre (NFC) scandal – “shouldn’t someone go to jail”?”