He stays clear of the spotlight, preferring to work quietly behind the scenes. As Mahathir's financial advisor in the 1980s Nor Mohamed Yakcop was implicated in a series of colossal disasters and largely responsible for the shocking loss of RM30 billion of the rakyat's money in forex speculation that ended in abysmal failure. Instead of losing his job, he gets promoted to Second Finance Minister. Only in Bolehland!
From Malaysiakini (Vox Populi | 26 July 2008): "Recent developments have shown that Second Finance Minister Nor Mohamed Yakcop indeed played a pivotal role in Bank Negara's forex scandal between 1992 to 1994. It would now be embarrassing to Pak Lah's administration if he continues to serve as Malaysia's second finance minister after being responsible for such a colossal loss of up to RM30 billion of the people's money. The most honourable thing for him to do would be to step down and come clean on the enormous forex losses as a result of speculation in the international currency markets in the 90s."
The forex scandal is ‘plunder’ of the highest order. Pak Lah must not close one eye to this gross offence of misappropriation of funds, which had allegedly occurred. Pak Lah who serves under the BN government must carry through his pledge to clean up the country. The best way to do that is to start with all the alleged abuses and misappropriation of funds over the last 20 years of the BN rule. The Sabah immigration scandal, Perwaja, MAS, Miti share allocations and the use of the people’s EPF money. Until he does this and investigate the losses, BN will forever be haunted by the ghosts of the past. The people will not rest until we see the culprits brought to justice, and if not, BN must be held responsible.
THE RM700 MILLION BANK ISLAM SCANDAL (2005)
RM30 BILLION FOREX FIASCO (1992-94)
MORE ON THE RM30 BILLION FOREX FIASCO
IT'S A MAD, MAD WORLD
I would'nt even trust him with my Tuck Shop Money !
ReplyDeleteThe forex scandal only came to light when Lim Kit Siang questioned Firaun in Parliament about a $6 billion hole in Bank Negara's Balance Sheet. BNM, Firaun and the BN Govt has at first tried to hide this huge loss and hoped no one would pick it up.
ReplyDeleteIt was reported at that time by Firaun that the forex losses were $6 billion. I am curious to know where and how this figure of $30 billion comes from.
Is someone confusing the gross trading figure with the net loss? I wonder.
But, as posted in Malaysia Today by RPK, there is a police report against Mamak Robokop Forexloosecannon for alleged direct involvement in CBT of RM 40 million while a director of MRCB.
As is the norm, no action has been taken by the police where it involves a BN big-wig.
Mamak Robokop Forexloosecannon also clearly lied to the people of M'sia just before GE2008 that our GDP grew by 40% in 4years. This would have put our GDP and growth ahead of China & India, which is plain impossoble. But the MSM did not take him to task over this blatant lie.
No, I owuldn't trust Robokop Forexloosecannon for all the money in the world. Here is yet another Indian Muslim pretending to be a Malay & Bumiputra and helping himself while in power with both hands.
What is also worrying is that Zeti and Bank Negara spent Rn42 billion last month in propping the ringgit against the US $. Yesterday, Zeti dismissed the shrinkage of our reserves as temporary and that we will recover it 'soon.' The casino mentality will never cease!!
http://donplaypuks.blogspot.cpm
This bugger to my instinct at politic in M'sia.he is te pure badua.SARS;stupid really stupid,shame you all M'sians to have him to be the 2nd. finance korek minister?
ReplyDeleteAll Tsk.Glugor voters,did u all made te rite choices?Ha...........
Still have times,13GE,ask him to Ha.......F..him.