Wednesday, August 15, 2007

Nor Mohamed on the question of bail-out

For nation we'll bail out. Even Nor Mohamed Yakcop, the 2nd Finance Minister, won't comment on the Port Klang Free Zone. The man blamed for the country's biggest forex losses was quoted in the Business Times:
"We don't see the Government going out and bailing out failed entrepreneurs. That's not our policy ... has never been our policy. But sometimes we put money in to create confidence for the overall economy, and we will do that."


caravanserai said...

It sinks the hole
Right on it
No one can change

Protest notes
It flows to empty space
The gravy it wants to keep
Leaving nothing in the hole

The sleeping beauty
Dreams of white knight
What’s happening around?
Eyes close don’t know

The wagons moving on
Never want to share
The golden color sparkling rays

The voters see
Eyes of jealousy
Mouths watering
Pockets empty

The inner circle takes all
Smiling all the way
The people feeling hot and empty

Cost of goods hike
Money dwindling
Tears flow in the eyes
Knowing playing out one too many times

Let a vote counts
Let the government knows
It isn’t ‘goblok’ anymore

walla said...

How can confidence in the economy be created by bailing out a project that was supposed to show how prosperous trade was but remains a moribund ghost place even up till today?

Anonymous said...

So....basically, it's "Bail Out" lah. What a load of crap!

pjam said...

bail out the project, let the company fail.. sue the company's boss, ban them for future projects

skilgannon1066 said...

The Spore govt has not bailed out any private or public-listed companies in the republic, yet there are more billion-dollar companies listed on the SGX than there are on Bursa Msia.

How does the Hon 2nd Finance Minister explain that?

Quick guess: he'd scold you for raising irrelevant matters.

Another question for Mohd Yakcop: how will the Msian govt repair ties with Jafza, Dubai World and the Dubai govt over this debacle (I use this word deliberately)?

My guess: he'd reply "what debacle"?

It looks like the govt is going to stonewall all the way and brazen it out.

Afer all, come election time, all will be forgiven and forgotten, and the rakyat will dutifully elect the BN into power again!

Sometimes I think that Malaysians get the govt they deserve! Or is that too harsh a statement that will get Pak Rocky into trouble with the "cyber troopers"?

Anonymous said...

Coming from a man that created "the mother of all losses", somehow doesn't surprise me.

He's just playing around with words, justifying everything. How would he justify his massive losses? That it was done in the "national interest"? That it was for the betterment of the conomy because it was "linked" to the economy? Or was he trying to add value to the "minority shareholders"? etc etc.

Anonymous said...

euphemism for bail out. Period.

old jurongian said...

You instill confidence in the economy by allowing all these traitors to fold up (AND see that there are none running any other major projects) AND make sure that only established and successful companies are given contracts.

We've seen enough of these traitors.

bamboo river said...

" But sometimes we put money in to create confidence for the overall economy, and we will do that"
HUH ??????..."CREATE"
Jadi semua main taruh wang untuk 'sengaja' mengujud/mencipta harapan tulen atau palsu?
Aiyo !

Anonymous said...

Sometime I wonder where on earth these people study their business managements programmes and degrees, economics etc to justify such sayings!!

shar101 said...

Idiot do as idiot does.

And we've got tons of them pretending to know how to run this country.

And they should be remunerated with 'monopoly' money.

ghostline said...

"...sometimes we put money in to create confidence for the overall economy..."

Er... last i checked, that's spelled B-A-I-L-O-U-T.

Hey Yakcop, cost of living has gone up, you know... how about doing a little 'confidence-building' in *my* bank account (a.k.a. my overall economy)? I'm a lot cheaper than Port Klang: 1 mil cukuplah...

Anonymous said...

Try study his words:

"We don't see the Government going out and [bailing out failed entrepreneurs]. That's not our policy ... has never been our policy. But sometimes we [put money in] to create confidence for the overall [economy], and we will do that."

Now try this:
1. [looked up the opposition leader] [send FRU in] [safety]
2. [rape women] [setup rehabilation center] [social welfare]

and so on...

It is quite interesting. Smart ass.