28
Jun
15

PM and his gatekeepers have betrayed Malaysians on 1MDB Rm42 billion debt

Prime Minister Najib and his gatekeepers have betrayed Malaysians on 1MDB Rm42 billion debt

There is a Malay saying that describes most aptly what is happening in Malaysia today under the Najib administration. It goes like this: Harapkan Pagar, Pagar Makan Padi ( literally it means in English, depend on the gatekeeper, the gatekeeper steals the rice). Yes, Najib and his Cabinet as gatekeepers and their officials have betrayed us on the 1Malaysia Development Berhad (1MDB)’s RM 42billion debt, which is in danger of default.

Crisis of Confidence in Najib’s Leadership

Malaysians have spent countless hours discussing the need to protect this intangible capital called TRUST that underpins personal and social relationships, business and public administration. We recognise the need for our government to be open, transparent and accountable; we emphasized the importance of sound management of our economy and fiscal responsibility; we comment on corruption, fiduciary duty of company directors and public officials.

We raised concerns about our ballooning national debt now close to RM600 billion (and that does not include private sector and household debt), and the Malay economy. We have warned the recalcitrant Prime Minister cum Finance Minister that Malaysia is in a financial crisis. This crazy debt financed spending which is justified as being good for sustained economic economic growth must stop if we are to avoid joining Greece which has difficulties in paying its creditors including the IMF. But Prime Minister Najib chooses not to listen and account for the borrowed funds. In stead his gatekeepers continue to divert our attention away from the problems of 1MDB.

The 1MDB financial scandal involving debt to the tune of RM42 billion by a single entity is already having a negative impact on public and investor confidence in the way the Najib administration manages our country’s finances and makes and executives public policy. The ringgit has already taking its toll against the US dollar on foreign exchange markets. This is because the Najib administration has consistently refused to explain what happened to the proceeds of the RM 42 billion and tell the truth. Even our Auditor-General is taking his time to come out with his report. The top managers of 1MDB too have acted irresponsibly by not turning up for a meeting with the Parliamentary Public Accounts Committee to answer questions on 1MDB activities and financial accounts. The time is now to come clean on 1MDB and other matters, if you have nothing to hide. Don’t treat us Malaysians as dumb and stupid people.

…more
Prime Minister Najib and his gatekeepers have betrayed Malaysians on 1MDB Rm42 billion debt
June 1, 2015 – Din Merican Blog

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BN govt is directing attention to distant past and distant future, in order to distract people from present misdeeds and poor governance
Felda - A picture is worth a thousand words
How the 1MDB Scandal Spread Across the World (WSJ)
We cannot afford ridiculously expensive RM55 Billion ECRL!
All that is necessary
for the triumph of evil
is for good men
to do nothing.

- Edmund Burke
When the people
fears their government,
there is TYRANNY;
when the government
fears the people,
there is LIBERTY.

- Thomas Jefferson
Do you hear the people sing?

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