Copyright Notice

All rights reserved. No part of this publication may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or other electronic or mechanical methods, without the prior written permission of the author, except in the case of brief quotations embodied in critical reviews and certain other non-commercial uses permitted by copyright law. For permission requests, write to the author, at the address below.

Sakmongkol ak 47

ariff.sabri@gmail.com

Saturday, 6 December 2008

Public Money, Private approval

Rick Wagoner and Bob Nardelli, the chief executives of GM and Chrysler respectively, told the House financial services committee on Friday that they would accept a combined bridging loan of $10bn to $14bn to see them through the next three months.

GM has said it needs an immediate injection of $4bn to stave off default, another $4bn in January, followed by an extra $10bn in 2009. that means GM needs USD18 billion. Chrysler has asked for an immediate $7bn. Ford wants access to a $9bn line of credit, but is optimistic that it will not need the money unless the slump in US vehicle sales deepens.

The auto industry alone in USA needs USD 34 billion to stay afloat. Here our stimulus package is RM7 billion. In the US, that amount is needed to resuscitate the auto industry. Here a miniscule RM7 billion is expected to revive the whole economy?

The question now, will that be enough? I hope the stimulus package will not be applied to companies that don’t deserve government money. We don’t require the mind of a president George W. Bush to be concerned about taxpayer money being provided to those companies that may not survive.

In America any government loans asked by the big corporations are subject to strenuous examination by select committees of Congress. Because that’s taxpayer’s money. Any aid from Congress is likely to come with stringent conditions, including an oversight mechanism with authority to determine how the companies run their businesses.

We come back again to the RM5billion EPF(taxpayers money) being given to Valuecap. We are heartened to know that the money wont be used to bail out stock market transactions or given to companies belonging to cronies.

But wouldn’t it be a departure from tradition for the finance minister to set up a committee replacing the tired and ill functioning PAC to debate on any application of public money?

But then, the Finance Minister says he is a stickler to tradition. ayoyo

4 comments:

de minimis 6 December 2008 at 13:21  

sak

I like the "twist in the tale". Some traditions need to go. New ones need to be made.

datukshaifulkamal 6 December 2008 at 17:25  

Pada 17 Januari 2009, pengundi di Kuala Terengganu akan mengundi dalam pilihanraya kecil.

Isu 1: BN menang dalam pilihanraya 8 Mac lalu dengan 628 undi. Itu pun disebabkan oleh ketokohan calon, Dato' Razali Ismail.

Isu2: Daripada 4 DUN di parlimen Kuala Terengganu, BN tewas di tiga DUN & menang 1 saja di DUN Bandar (pengundi Cina ramai di DUN Bandar).

Isu 3: Pembangkang (DAP khususnya) dan parti komponen Cina dari BN (MCA dan Gerakan) tentu akan menggunakan isu kenyataan Mukhriz untuk "mengajar" pemimpin UMNO. Kita dapat melihat tren ini dalam PRU12 dan pilihanraya kecil Permatang Pauh baru2 ini.

Isu 4: Kalau BN kalah di Kuala Terengganu atau menang terlalu kecil di sana, ini menunjukkan pengundi Cina terus menjauhkan diri dari UMNO. Dalam PRU13 nanti, apa yang akan berlaku ialah pertandingan antara UMNO and the rest of the people. MCA dan Gerakan akan diassociate dengan UMNO, for their own survival.

Isu 5: Apakah manfaat kenyataan Mukriz selain mempopularkan dirinya tetapi pada masa yang sama merugikan BN / UMNO; sekaligus menjadikan UMNO "parti pariah" yang disisihkan oleh semua orang? His statement won't change anything! It does more harm than good.

Isu 6: Adakah pemimpin UMNO merasakan mereka terlalu cerdik sehingga hilang segala kebijaksanaan dalam bercakap dan bertindak?

Marilah kita sama2 berfikir.

sakmongkol AK47 aka Mat Tomoi 6 December 2008 at 20:20  

datukshaiful,
praya kecil kt akan di adakan. apa pun UMNO kena lawan. dalam praya, segala isiu akan di keluarkan. pas akan gunakan semua nya untuk menang. isiu2 nya termasuklah isiu yang di bangkitkan oleh mukhriz mahathir. tapi untuk mengaitkan kemungkinan kalah di praya KT dengan kenyataan mukhriz, adalah satu yg keterlaluan.
adakah datuk bersedia mengakui, sebaliknya, jika UMNO menang, maka kemenangan itu adalah kerana semangat orang Melayu di bangkitkan kerana kenyataan mukhriz?
ada cara lain untuk sepelet MUkhriz. sekarang, adalah masa untuk menang dalam praya KT nanti, tak kira apa isiu pun.

Ismail N 6 December 2008 at 20:44  

Dato'Sak,

Bukankah kenyataan Mukhriz di buat sebelum kematian YB Razali pulang ke rahmahtullah? Takkan mahu hentam Mukhriz sekarang sebab ada pilihanraya?

Salam Aidil Adha buat Dato'sekeluarga.

  © Blogger templates Newspaper III by Ourblogtemplates.com 2008

Back to TOP