In 1980, he bail out Bank Bumiputera who loses money due to loans extended to George Tan's Carrian empire. It was more than $2billion pumped in to resuscitate the failed institution and which include the death of our bank auditor who was sent there to investigate.
In 1998 economic crisis Mirzan's companies were "saved" when MISC, owned by Petronas bought over his company.
Mokhzani's business empire had a tough time too and managed to overcome the economic crisis.
Putra and Star LRT, together with Renong, UEM, MAS and Tajuddin Ramli - they were all bailed-out due to poor management and improper management.
Bank Rakyat, Affin Bank, Bank Bumiputera and many other banks were also bailed out in 1999.
America is also doing the same! Mahathir was right - pumping billions in tax-payers money to bail out failed institution is a disgrace. "If they must dole out money, give it to the people who suffered actual losses due to the bank's failure, but not to the bankers " ... and to the corporations that were disgraced by their bad management.
But we are different - we are developing country ... sorry, going to be a developing country.
In 1998 economic crisis Mirzan's companies were "saved" when MISC, owned by Petronas bought over his company.
Mokhzani's business empire had a tough time too and managed to overcome the economic crisis.
Putra and Star LRT, together with Renong, UEM, MAS and Tajuddin Ramli - they were all bailed-out due to poor management and improper management.
Bank Rakyat, Affin Bank, Bank Bumiputera and many other banks were also bailed out in 1999.
America is also doing the same! Mahathir was right - pumping billions in tax-payers money to bail out failed institution is a disgrace. "If they must dole out money, give it to the people who suffered actual losses due to the bank's failure, but not to the bankers " ... and to the corporations that were disgraced by their bad management.
But we are different - we are developing country ... sorry, going to be a developing country.
6 comments:
Dulu Lain Sekarang Lain. Kan Obama dah cakap...WE MUST CHANGE....the way of doing things. If not, how can the rakyat accept us.
Why cann't this oldman just fade away. Since his "retirement" he has been talking cock most of the time.
Now, after the swearing in of the Mongolian PM in this Magnolia Land, he wanted to be active again. It would be interesting to watch him campaigning & made a fool out of himself.
Only he can do it. You hear that, Najib?
He is always quick to criticise and condemn others. When it comes to him, there's always a reason to justify his actions. The sad thing is till now he has no feelings of guilt - "tak insaf diri" for all the grief he brought to so many people. At his age, one would have thought to reflect upon one's life and at least try to do some good before one calls it a day......sigh...
Every body sure die one.
That's why we got Qing Ming session ma...
So talk lah before next year Qing Ming day come mah!
everybody knows that he bailed out his children with Tabung Hj money, yuks!
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