It's one Forbes list where none would want to figure, but Rosmajibby son of Tun Addul RAZAK has managed the feat of being among the world's 10 most outrageous CEOs. ROSMAHJIBBY has been ranked as the world's fourth most outrageous CEO in 2009 on the list compiled by the Forbes, known for its rankings of the richest and the most powerful the world over.
RELATED ARTICLETun Daim Zainuddin, a career of shooting poison darts, laying booby traps. and knifing friend or foe in the back
doesn’t make Najib a PM we can admire, respect, love or trust. too much baggage from 33 years in Umno!are having the paradigm that they still have rights to rape the nation wealth and it’s people as their predecessor did.
IT STARTED WITH MAHATHIR WHO PUT HIS HAND INTO THIS FUNDS….YOU FORGOT ..UNCLAIMED MONEY FROM THE DEAD.
IT WILL CONTINUE…BECAUSE HE HAS STARTED A BENCHMARK ..AND THEY ARE NOW COMPETING TO BEAT IT. IT IS A CRIME BUT WHAT TO DO…YOU AND I ELECTED THESE RASCALS…AND NOW THE MALAYS ARE CAUGHT IN THEIR OWN TRAP..A QUICKSAND THAT WILL SLOWLY SUCK THEM DOWN INTO A COMMUNITY THAT IS CONTROLLED BY THE CORRUPT APART FROM A RENEGADE LIKE PKR, IF YOU ARE STUPID ENOUGH TO CONTINUE VOTING FOR US TO EXPLOIT YOU, WHAT’S WRONG WITH US EXPLOITING YOU? WE ARE JUST DOING WHAT YOU HAVE VOTED US FOR…. TO ROB,INTIMIDATE, MURDER AND SUPPRESS YOU FOR OUR OWN BENEFITS. PLEASE CONTINUE TO VOTE FOR US, THERE IS MORE WHERE THAT COMES FROM.
WHEN A GOVERNMENT STEPS OUT OF THIS ZONE OF LEGITIMACY AND BECOMES CORRUPT THEN IT BECOMES A DESTROYER IN THE SAME MANNER AS CRIMINALS. UMNO IS GUILTY OF THIS TRANSGRESSION. SO WHILE THERE ARE MANY BUSINESSMEN ENGAGED IN QUESTIONABLE BUSINESS PRACTICES, FRAUD, BRIBERY AND CORRUPTION – THE POLITICIANS AND GOVERNMENT OFFICIALS WHO DETERMINE THE ADMINISTRATION OF THESE BUSINESS AND CHOOSE TO OVERLOOK THESE ILLEGAL ACTIVITIES BY THE BUSINESSMEN ARE COMMITTING MASSIVE THEFT BY ABUSING THE TRUST PLACED UPON THEM BY THE PEOPLE – AND TAKING MONEY FROM THESE BUSINESSMEN WITHOUT PRODUCING GOODS AND SERVICES THAT COULD CONTRIBUTE TO THE WEALTH OF OUT NATION.
HOEVER THESE POLITICIANS AND GOVERNMENT OFFICIALS DO NOT SEE WHAT THEY DO AS GENUINE CRIMES BUT AS VICTIMLESS AND ECONOMIC CRIMES.
AND WORSE STILL IN OUR COUNTRY THE POLITICIANS HAVE NOW GOT AROUND TO COMMITTING MURDER THROUGH PDRM AND MACC AND JUDICIAL MAYHEM THROUGH THE OFFICE OF THE AG.
WHILE ECONOMIC CRIMES MIGHT BE SEEN TO BE VICTIMLESS CRIMES- NOT SO MURDER. THE RECENT SUICIDE OF SEETHA CAN DIRECTLY BE LINKED TO THE NAJIB. HOW SO? SIMPLY THIS. DEATH IN PDRM CUSTODY AND THE GUNNING DOWN OF SUSPECTS GUNMAN IN SHOOT OUT SITUATION HAVE BECOME THE NORM. NOT IN THE LAST FEW MONTHS, NOT IN THE LAST ONE-YEAR - BUT IN A PROGRESSION OF MORE AND MORE SUCH ACTS COMMITTED BY THE POLICE.
WITHOUT REBUKE FROM THE GOVERNMENT.
WITHOUT ANY QUESTIONS BEING PUBLICLY ASKED OF THE CORRECTNESS OF SUCH ACTIONS.
WITHOUT DUE CONSIDERATIONS OF THE CRIMINAL RIGHTS TO A FAIR TRIAL.
NOW NAJIB UNDERSTAND THIS. IT IS ONE THING FOR THE POLICE TO MACHINE GUNNED INDIAN GANGSTERS IN A SO CALL SHOOT OUT SITUATION - SOMEHOW IT CAN BE WHITE WASHED AND HUSHED DOWN AS “THE POLICE ONLY DOING THEIR JOB” – BUT WHEN A MOTHER AND HER FOUR CHILDREN TAKE PARAQUAT AS A RESULT OF ONE OF THEIR OWN BEING MURDERED BY PDRM IN A SHOOT OUT: THEN HAVING THE MOTHER DYING AS A RESULT OF THAT ACT: THEN NAJIB YOU ARE RESPONSIBLE FOR THE DEATH OF THAT MOTHER AND THE CONDITION HER CHILDREN ARE IN!
WHY? BECAUSE NAJIB YOU ARE THE PRIME MINISTER OF THIS COUNTRY! YOU SHOULD MAKE IT CLEAR TO PDRM THAT THE GOVERNMENT WILL NOT TOLERATE THIS KIND OF CRIMINAL BEHAVIOR BY THE POLICE. IT MUST STOP. SHOULD STOP A LONG TIME AGO!
INSTEAD WHAT DO YOU DO? YOU KEEP AN IGP THAT SHOULD REALLY BE KICKED OUT - BECAUSE HE IS RESPONSIBLE FOR THE ACTIONS OF HIS PEOPLE – WHEN YOU KEEP HIM ON THAT MEANS YOU CONDONE THE ACTION OF THE POLICE UNDER THIS IGP.
THE SAME WITH KUGAN. THE SAME WITH TEOH BENG HOCK. ALL THIS HAPPENED UNDER YOUR WATCH NAJIB. THE SAME WITH THE RECENT DEATH OF THE THREE INNOCENT SCHOOLGIRLS FALLING INTO THE RIVER BECAUSE THEY WENT FOR A 1MALAYSIA COURSE. AND THE FATHER WHO DIED OF A BROKEN HEART. AND DO NOT FORGET THE EIGHTEEN THAT HAVE DIED UNDER THE NATIONAL SERVICE PROGRAM. ALL THIS NAJIB DIRECTLY TO YOU.
SO PLEASE FROM TODAY – BEFORE YOU DECIDE ON ANYTHING AT NATIONAL LEVEL DO TRY TO UNDERSTAND WHAT IMPLICATIONS IT WILL HAVE ON THE ORDINARY CITIZENS OF THIS COUNTRY. WHAT YOU DECIDE IN PUTRAJAYA WILL HAVE RAMIFICATIONS ON THE PEOPLE OF THIS COUNTRY. THINK. THE 1MALAYSIA F1TEAM WILL REQUIRE MUCH MONEY. BILLIONS OF RINGGITS. ALL FOR THE BENEFITS OF A HANDFUL OF YOUR CRONIES. DON’T DO IT. DO IT AND YOU WILL EARN THE CONTEMPT AND DISGUST OF MANY MALAYSIAN. COMMON SENSE SHOULD PREVAIL.
YOU SEE NAJIB THE EXCESSES OF UMNO ARE NOW IMPACTING IN A VERY IMMEDIATE AND PERSONAL WAY ON THE PEOPLE OF THIS COUNTRY. ALMOST EACH AND EVERY CITIZENS OF THIS COUNTRY HAVE INDIVIDUALLY FELT THE EFFECT OF SOMETHING THAT YOU HAVE DONE OR NOT HAVE DONE IN THIS SHORT TIME THAT YOU HAVE BECOME PRIME MINISTER. NOW ROSMAH TALKS ABOUT BATIK FASHION SHOWS IN MONACO! WHAT MORE FOOLISHNESS ARE WE TO EXPECT FROM HER? A SATAY EVENING IN PARIS? NASI LEMAK IN NEW YORK?
TURUN PADANG AGAIN NAJIB. GO TALK TO THE PEOPLE. DO NOT JUST LISTEN TO THEM. YOU MUST HEAR WHAT THEY SAY BEFORE THEY TIRE BEYOND TOLERANCE OF YOUR ADMINISTRATION. SOME EMPATHY OF THE PEOPLE’S PAIN AND SUFFERING WOULD HELP. SOME PUBLIC UTTERANCES ABOUT THE EXCESSES OF PDRM WOULD BE APPROPRIATE. GETTING YOUR WIFE TO DRESS DOWN FROM AN EMPRESS TO BEING YOUR WIFE WOULD BE GOOD. AND NO F1…NO 1MALAYSIA TEAM F1.
IN OUR COUNTRY, CRIME COMMITED BY POLITICIANS IS NOT CRIME, THEY ARE DUTY BOUND TO COMMIT ALL THE CRIME BECAUSE THEY ARE POLITICIAN, THEY WANT THAT KIND OF LIFE, POLITIC IS NOT DIRTY, BUT IF YOU WANT TO PARTICIPATE IN IT T THEN YOU HAVE TO PLAY DIRTY TO SUSTAIN YOUR STATUS AS POLITICIAN, SELFDOM WE FIND POLITICIAN WHO RETIRED EMPTY HANDED, THEY KNEW, TO ACCUMULATED THE WEALTH IN THE SHORTEST TIME,THERE IS NO OTHER WAY BUT TO BE A POLITICIAN, TO ACCUMULATE THE WEALTH FAST, YOU MUST HAVE THE JURISDICTION IN THE RULING REGIME, WITH DECIDING POWER IN HAND, YOU CAN DECIDE HOW MUCH WEALTH YOU WISH TO ACCUMULATED, AND ALL THIS PHISOPHY IS INHERITED SINCE MAHATHIR’S REIGN, MAHATHIR, THE MENTOR OF NAJIB, CLAIMS UNJUSTIFIABLE AMOUNTS OF MONEY FROM THE COUNTRY’S TREASURY WITHOUT GOING THROUGH NORMAL PROCEDURE, WHICH THE PEOPLE CLASSIFIED IT AS “CORRUPTION”, AND HE DECIDED THE AMOUNT WITH THE JURISDICTION ENTRUSTED TO HIM BY THE PEOPLE,MALAYSIA TODAY, AT THIS KIND OF SITUATION, WHO IS TO BLAME? ITS THE PEOPLE WHO HAVE GIVEN THEIR TRUST TO THE CRIMINAL, AND THE ‘CRIMINAL BREEDS CRIMINAL”, ITS NOT NAJIB’S FAULT IF ALL THE HONEY IS TAKEN FROM THIS GOOD EARTH, AND LEAVE BEHIND EMPTY HIVE , NAJIB’S HAVE ‘NO JURISDICTION’ TO DECIDE, TO EXECUTE ‘THE CORRUPTED’, FOR HE HIMSELF IS ONE OF THE PLAYERS IN THE GAME, HE PLAYS ACCORDING TO THE ‘RULE OF THE GAME’ DECIDED BY HIS TEAM, THE BN, AND THE PEOPLE ELECTED BN TO DECIDE AND PLAY THE GAME AS THE TEAM’S WISH,SORT OF SOCCER GAME WITHOUT REFEREE, FREE FOR ALL PLAYERS. NO POINT TELLING NAJIB WHAT TO DO? HE CANT DECIDE THE FUTURE FOR MALAYSIA, ITS THE PEOPLE, WHO CAN DECIDE THE LIFE THEY WANT, THE ‘PEOPLE MUST CHANGE’ TO ENABLE NAJIB AND HIS TEAM ‘CHANGE’, ITS THE ‘CHANGE WE WANT, AND WE MUST’ BECAUSE WE, THE PEOPLE CHOOSE OUR LIFE! IF MALAYSIA IS CONSIDERED AS ONE OF THE MOST CORRUPTED COUNTRY . THEN WE, THE PEOPLE IS ALSO AMONGST THE CORRUPTED, BECAUSE WE BREED ALL THESE ‘CORRUPTED PEOPLE”! WE ARE THE ONE, ONE MALAYSIA, THE MOST CORRUPTED CITIZEN ON THIS INNOCENT EARTH
IT STARTED WITH MAHATHIR WHO PUT HIS HAND INTO THIS FUNDS….YOU FORGOT ..UNCLAIMED MONEY FROM THE DEAD. IT WILL CONTINUE…BECAUSE HE HAS STARTED A BENCHMARK ..AND THEY ARE NOW COMPETING TO BEAT IT. IT IS A CRIME BUT WHAT TO DO…YOU AND I ELECTED THESE RASCALS…AND NOW THE MALAYS ARE CAUGHT IN THEIR OWN TRAP..A QUICKSAND THAT WILL SLOWLY SUCK THEM DOWN INTO A COMMUNITY THAT IS CONTROLLED BY THE CORRUPT APART FROM A RENEGADE LIKE PKR, IF YOU ARE STUPID ENOUGH TO CONTINUE VOTING FOR US TO EXPLOIT YOU, WHAT’S WRONG WITH US EXPLOITING YOU? WE ARE JUST DOING WHAT YOU HAVE VOTED US FOR…. TO ROB,INTIMIDATE, MURDER AND SUPPRESS YOU FOR OUR OWN BENEFITS. PLEASE CONTINUE TO VOTE FOR US, THERE IS MORE WHERE THAT COMES FROM.
WHEN A GOVERNMENT STEPS OUT OF THIS ZONE OF LEGITIMACY AND BECOMES CORRUPT THEN IT BECOMES A DESTROYER IN THE SAME MANNER AS CRIMINALS. UMNO IS GUILTY OF THIS TRANSGRESSION. SO WHILE THERE ARE MANY BUSINESSMEN ENGAGED IN QUESTIONABLE BUSINESS PRACTICES, FRAUD, BRIBERY AND CORRUPTION – THE POLITICIANS AND GOVERNMENT OFFICIALS WHO DETERMINE THE ADMINISTRATION OF THESE BUSINESS AND CHOOSE TO OVERLOOK THESE ILLEGAL ACTIVITIES BY THE BUSINESSMEN ARE COMMITTING MASSIVE THEFT BY ABUSING THE TRUST PLACED UPON THEM BY THE PEOPLE – AND TAKING MONEY FROM THESE BUSINESSMEN WITHOUT PRODUCING GOODS AND SERVICES THAT COULD CONTRIBUTE TO THE WEALTH OF OUT NATION. HOEVER THESE POLITICIANS AND GOVERNMENT OFFICIALS DO NOT SEE WHAT THEY DO AS GENUINE CRIMES BUT AS VICTIMLESS AND ECONOMIC CRIMES. AND WORSE STILL IN OUR COUNTRY THE POLITICIANS HAVE NOW GOT AROUND TO COMMITTING MURDER THROUGH PDRM AND MACC AND JUDICIAL MAYHEM THROUGH THE OFFICE OF THE AG. WHILE ECONOMIC CRIMES MIGHT BE SEEN TO BE VICTIMLESS CRIMES- NOT SO MURDER. THE RECENT SUICIDE OF SEETHA CAN DIRECTLY BE LINKED TO THE NAJIB. HOW SO? SIMPLY THIS. DEATH IN PDRM CUSTODY AND THE GUNNING DOWN OF SUSPECTS GUNMAN IN SHOOT OUT SITUATION HAVE BECOME THE NORM. NOT IN THE LAST FEW MONTHS, NOT IN THE LAST ONE-YEAR - BUT IN A PROGRESSION OF MORE AND MORE SUCH ACTS COMMITTED BY THE POLICE. WITHOUT REBUKE FROM THE GOVERNMENT. WITHOUT ANY QUESTIONS BEING PUBLICLY ASKED OF THE CORRECTNESS OF SUCH ACTIONS. WITHOUT DUE CONSIDERATIONS OF THE CRIMINAL RIGHTS TO A FAIR TRIAL. NOW NAJIB UNDERSTAND THIS. IT IS ONE THING FOR THE POLICE TO MACHINE GUNNED INDIAN GANGSTERS IN A SO CALL SHOOT OUT SITUATION - SOMEHOW IT CAN BE WHITE WASHED AND HUSHED DOWN AS “THE POLICE ONLY DOING THEIR JOB” – BUT WHEN A MOTHER AND HER FOUR CHILDREN TAKE PARAQUAT AS A RESULT OF ONE OF THEIR OWN BEING MURDERED BY PDRM IN A SHOOT OUT: THEN HAVING THE MOTHER DYING AS A RESULT OF THAT ACT: THEN NAJIB YOU ARE RESPONSIBLE FOR THE DEATH OF THAT MOTHER AND THE CONDITION HER CHILDREN ARE IN! WHY? BECAUSE NAJIB YOU ARE THE PRIME MINISTER OF THIS COUNTRY! YOU SHOULD MAKE IT CLEAR TO PDRM THAT THE GOVERNMENT WILL NOT TOLERATE THIS KIND OF CRIMINAL BEHAVIOR BY THE POLICE. IT MUST STOP. SHOULD STOP A LONG TIME AGO! INSTEAD WHAT DO YOU DO? YOU KEEP AN IGP THAT SHOULD REALLY BE KICKED OUT - BECAUSE HE IS RESPONSIBLE FOR THE ACTIONS OF HIS PEOPLE – WHEN YOU KEEP HIM ON THAT MEANS YOU CONDONE THE ACTION OF THE POLICE UNDER THIS IGP. THE SAME WITH KUGAN. THE SAME WITH TEOH BENG HOCK. ALL THIS HAPPENED UNDER YOUR WATCH NAJIB. THE SAME WITH THE RECENT DEATH OF THE THREE INNOCENT SCHOOLGIRLS FALLING INTO THE RIVER BECAUSE THEY WENT FOR A 1MALAYSIA COURSE. AND THE FATHER WHO DIED OF A BROKEN HEART. AND DO NOT FORGET THE EIGHTEEN THAT HAVE DIED UNDER THE NATIONAL SERVICE PROGRAM. ALL THIS NAJIB DIRECTLY TO YOU.SO PLEASE FROM TODAY – BEFORE YOU DECIDE ON ANYTHING AT NATIONAL LEVEL DO TRY TO UNDERSTAND WHAT IMPLICATIONS IT WILL HAVE ON THE ORDINARY CITIZENS OF THIS COUNTRY. WHAT YOU DECIDE IN PUTRAJAYA WILL HAVE RAMIFICATIONS ON THE PEOPLE OF THIS COUNTRY. THINK. THE 1MALAYSIA F1TEAM WILL REQUIRE MUCH MONEY. BILLIONS OF RINGGITS. ALL FOR THE BENEFITS OF A HANDFUL OF YOUR CRONIES. DON’T DO IT. DO IT AND YOU WILL EARN THE CONTEMPT AND DISGUST OF MANY MALAYSIAN. COMMON SENSE SHOULD PREVAIL. YOU SEE NAJIB THE EXCESSES OF UMNO ARE NOW IMPACTING IN A VERY IMMEDIATE AND PERSONAL WAY ON THE PEOPLE OF THIS COUNTRY. ALMOST EACH AND EVERY CITIZENS OF THIS COUNTRY HAVE INDIVIDUALLY FELT THE EFFECT OF SOMETHING THAT YOU HAVE DONE OR NOT HAVE DONE IN THIS SHORT TIME THAT YOU HAVE BECOME PRIME MINISTER. NOW ROSMAH TALKS ABOUT BATIK FASHION SHOWS IN MONACO! WHAT MORE FOOLISHNESS ARE WE TO EXPECT FROM HER? A SATAY EVENING IN PARIS? NASI LEMAK IN NEW YORK? TURUN PADANG AGAIN NAJIB. GO TALK TO THE PEOPLE. DO NOT JUST LISTEN TO THEM. YOU MUST HEAR WHAT THEY SAY BEFORE THEY TIRE BEYOND TOLERANCE OF YOUR ADMINISTRATION. SOME EMPATHY OF THE PEOPLE’S PAIN AND SUFFERING WOULD HELP. SOME PUBLIC UTTERANCES ABOUT THE EXCESSES OF PDRM WOULD BE APPROPRIATE. GETTING YOUR WIFE TO DRESS DOWN FROM AN EMPRESS TO BEING YOUR WIFE WOULD BE GOOD. AND NO F1…NO 1MALAYSIA TEAM F1.
IN OUR COUNTRY, CRIME COMMITED BY POLITICIANS IS NOT CRIME, THEY ARE DUTY BOUND TO COMMIT ALL THE CRIME BECAUSE THEY ARE POLITICIAN, THEY WANT THAT KIND OF LIFE, POLITIC IS NOT DIRTY, BUT IF YOU WANT TO PARTICIPATE IN IT T THEN YOU HAVE TO PLAY DIRTY TO SUSTAIN YOUR STATUS AS POLITICIAN, SELFDOM WE FIND POLITICIAN WHO RETIRED EMPTY HANDED, THEY KNEW, TO ACCUMULATED THE WEALTH IN THE SHORTEST TIME,THERE IS NO OTHER WAY BUT TO BE A POLITICIAN, TO ACCUMULATE THE WEALTH FAST, YOU MUST HAVE THE JURISDICTION IN THE RULING REGIME, WITH DECIDING POWER IN HAND, YOU CAN DECIDE HOW MUCH WEALTH YOU WISH TO ACCUMULATED, AND ALL THIS PHISOPHY IS INHERITED SINCE MAHATHIR’S REIGN, MAHATHIR, THE MENTOR OF NAJIB, CLAIMS UNJUSTIFIABLE AMOUNTS OF MONEY FROM THE COUNTRY’S TREASURY WITHOUT GOING THROUGH NORMAL PROCEDURE, WHICH THE PEOPLE CLASSIFIED IT AS “CORRUPTION”, AND HE DECIDED THE AMOUNT WITH THE JURISDICTION ENTRUSTED TO HIM BY THE PEOPLE,MALAYSIA TODAY, AT THIS KIND OF SITUATION, WHO IS TO BLAME? ITS THE PEOPLE WHO HAVE GIVEN THEIR TRUST TO THE CRIMINAL, AND THE ‘CRIMINAL BREEDS CRIMINAL”, ITS NOT NAJIB’S FAULT IF ALL THE HONEY IS TAKEN FROM THIS GOOD EARTH, AND LEAVE BEHIND EMPTY HIVE , NAJIB’S HAVE ‘NO JURISDICTION’ TO DECIDE, TO EXECUTE ‘THE CORRUPTED’, FOR HE HIMSELF IS ONE OF THE PLAYERS IN THE GAME, HE PLAYS ACCORDING TO THE ‘RULE OF THE GAME’ DECIDED BY HIS TEAM, THE BN, AND THE PEOPLE ELECTED BN TO DECIDE AND PLAY THE GAME AS THE TEAM’S WISH,SORT OF SOCCER GAME WITHOUT REFEREE, FREE FOR ALL PLAYERS. NO POINT TELLING NAJIB WHAT TO DO? HE CANT DECIDE THE FUTURE FOR MALAYSIA, ITS THE PEOPLE, WHO CAN DECIDE THE LIFE THEY WANT, THE ‘PEOPLE MUST CHANGE’ TO ENABLE NAJIB AND HIS TEAM ‘CHANGE’, ITS THE ‘CHANGE WE WANT, AND WE MUST’ BECAUSE WE, THE PEOPLE CHOOSE OUR LIFE! IF MALAYSIA IS CONSIDERED AS ONE OF THE MOST CORRUPTED COUNTRY . THEN WE, THE PEOPLE IS ALSO AMONGST THE CORRUPTED, BECAUSE WE BREED ALL THESE ‘CORRUPTED PEOPLE”! WE ARE THE ONE, ONE MALAYSIA, THE MOST CORRUPTED CITIZEN ON THIS INNOCENT EARTH
ANWAR SAYS POWER CORRUPTS, ABSOLUTE POWER CORRUPTS ABSOLUTELY. CIA,MOSSAD AND ALL THEIR GLOBAL BRANCHES THAT ARE MONITORING OUR STRUGGLE FOR TRUTH,JUSTICE AND FAITH
But now that we’ve stepped back a few paces from the brink — thanks, let’s not forget, to immense, taxpayer-financed rescue packages — the financial sector is rapidly returning to business as usual. Even as the rest of the nation continues to suffer from rising unemployment and severe hardship, Wall Street paychecks are heading back to pre-crisis levels. And the industry is deploying its political clout to block even the most minimal reforms.
The good news is that senior officials in the Obama administration and at the Federal Reserve seem to be losing patience with the industry’s selfishness. The bad news is that it’s not clear whether President Obama himself is ready, even now, to take on the bankers.
Credit where credit is due: I was delighted when Lawrence Summers, the administration’s ranking economist, lashed out at the campaign the U.S. Chamber of Commerce, in cooperation with financial-industry lobbyists, is running against the proposed creation of an agency to protect consumers against financial abuses, such as loans whose terms they don’t understand. The chamber’s ads, declared Mr. Summers, are “the financial-regulatory equivalent of the death-panel ads that are being run with respect to health care.”
Yet protecting consumers from financial abuse should be only the beginning of reform. If we really want to stop Wall Street from creating another bubble, followed by another bust, we need to change the industry’s incentives — which means, in particular, changing the way bankers are paid.
What’s wrong with financial-industry compensation? In a nutshell, bank executives are lavishly rewarded if they deliver big short-term profits — but aren’t correspondingly punished if they later suffer even bigger losses. This encourages excessive risk-taking: some of the men most responsible for the current crisis walked away immensely rich from the bonuses they earned in the good years, even though the high-risk strategies that led to those bonuses eventually decimated their companies, taking down a large part of the financial system in the process.
The Federal Reserve, now awakened from its Greenspan-era slumber, understands this problem — and proposes doing something about it. According to recent reports, the Fed’s board is considering imposing new rules on financial-firm compensation, requiring that banks “claw back” bonuses in the face of losses and link pay to long-term rather than short-term performance. The Fed argues that it has the authority to do this as part of its general mandate to oversee banks’ soundness.
But the industry — supported by nearly all Republicans and some Democrats — will fight bitterly against these changes. And while the administration will support some kind of compensation reform, it’s not clear whether it will fully support the Fed’s efforts.
_____________
*Paul Robin Krugman is an American economist, liberal columnist and author. He is Professor of Economics and International Affairs at the Woodrow Wilson School of Public and International Affairs, Princeton University, Centenary Professor at the London School of Economics, and an op-edcolumnist for The New York Times.[2][3] In 2008, Krugman won the Nobel Memorial Prize in Economics for his contributions to New Trade TheoryandNew Economic Geography.
The Nobel Prize Committee stated that Krugman’s main contribution had been to explain patterns of international trade and the geographic concentration of wealth by examining the impact of economies of scale and of consumer preferences for a diverse goods and services. Krugman’s work on international economics, including trade theory, economic geography, and international finance has established him as one of the most influential economists in the world according to IDEAS/RePEc. Krugman is also known in academia for his work on liquidity traps and on currency crises.
As of 2006, Krugman had written or edited more than 25 books, 40 scholarly articles and 750 columns at The New York Times dealing with current economic and political issues. Krugman’s International Economics: Theory and Policy, co-authored with Maurice Obstfeld is a standard introductorytextbookon international economics. He also writes on political and economic topics for the general public, as well as on topics ranging from income distribution to international economics. Krugman considers himself a liberal, calling one of his books and his New York Times blog “The Conscience of a Liberal“. –wikipedia
________________
I was startled last week when Mr. Obama, in an interview with Bloomberg News, questioned the case for limiting financial-sector pay: “Why is it,” he asked, “that we’re going to cap executive compensation for Wall Street bankers but not Silicon Valley entrepreneurs or N.F.L. football players?”
That’s an astonishing remark — and not just because the National Football League does, in fact, have pay caps. Tech firms don’t crash the whole world’s operating system when they go bankrupt; quarterbacks who make too many risky passes don’t have to be rescued with hundred-billion-dollar bailouts. Banking is a special case — and the president is surely smart enough to know that.
All I can think is that this was another example of something we’ve seen before: Mr. Obama’s visceral reluctance to engage in anything that resembles populist rhetoric. And that’s something he needs to get over.
It’s not just that taking a populist stance on bankers’ pay is good politics — although it is: the administration has suffered more than it seems to realize from the perception that it’s giving taxpayers’ hard-earned money away to Wall Street, and it should welcome the chance to portray the G.O.P. as the party of obscene bonuses.
Equally important, in this case populism is good economics. Indeed, you can make the case that reforming bankers’ compensation is the single best thing we can do to prevent another financial crisis a few years down the road.
It’s time for the president to realize that sometimes populism, especially populism that makes bankers angry, is exactly what the economy needs.
RELATED ARTICLE MALAYSIA’S NEXT EXPORT CORRUPTION ONLY:THE GOVERNMENT NEEDS TO PUT IN PLACE THE RIGHT POLICIES AND STRUCTURES TO RETAIN LOCAL TALENT. “OTHERWISE, WE BECOME A TRAINING GROUND FOR OTHERS,
“Our problem now is two-pronged. The first is implementing everything in the 10MP and the second is having the political will to enforce those changes. At this point, I’m worried that the latter is missing and I hope to be proven wrong for Malaysia’s sake.”
Extremely tall order
write this letter with a very heavy heart.Read more at:http://harismibrahim.wordpress.com/2010/06/13/an-open-letter-from-dr-tan-kee-kwong-jibby-
Just to put things in perspective, after much soul searching, I joined Keadilan in August 2008.
From 1999 to 2004 I was Barisan National Deputy Minister of Land and Cooperatives.
My Minister, Tan Sri Kasitah Gadam, put me in charge of answering questions in Parliament regarding all Felda matters.
In 2004, before Najib began meddling in Felda affairs, Felda was the pride of the oilpalm industry. It had 75 oil palm mills, assets of RM 7 Billion and a cash hoard of RM 4.5 Billion.
What I just heard upset me so much.
I publicly accuse Najib of single handedly destroying Felda!
As of now out of the huge cash hoard of RM 4.5 Billion, only RM 200 Million is left. In actual fact with the record price of CPO for the past few years, Felda, if managed properly, should have cash reserves of RM 6 Billion! The reverse has happened and now it has only a pathetic sum left.
When Najib became Deputy Prime Minister, he put himself in charge of Felda. He gave the lame excuse that his late father Tun Razak started Felda, he should continue the family tradition of looking after Felda.
In fact if the late Tun Razak khows what Najib has done to Felda , Tun Razak will turn in his grave.
The same goes for the former Chairman of Felda, Tan Sri Raja Alias. Tan Sri Raja Alias did an excellent job in looking after Felda.
The real reason why a very busy Deputy Prime Minister wants to micro manage Felda is now very clear.
He wanted to have access to the huge cash hoard of Felda.
Everytime we will hear a lot of rubbish plan. In the first place they are not sincere with they said. The only plan they have is how to plunder the national coffer as much as they can. With the ultra Malays that are blessed with a perfect body but are too lazy to stand on their own feet, begging like a beggars for handout will only make the matters worse. Seems the world owe them a living with their so called Ketuanan Melayu.
As a parent, we will take care of the expenses of our childrens from infant until they are expose to the working environment. After they have their own career, we don't expect our childrens to come back and demand for more money. Imagine if we have a son who was more than fifty years old like Ibrahim Ali still have to depend on handout for survival, then as a parent we were considered failed in our duty. We must make him to stand on his own without any crutches like the much abused NEP was all about.
Former executive director for the Malaysian Institute of Economic Research,Professor Mohammad Ariff, zeroed in on Malaysia’s ambition of becoming a high-income nation. According to him, the 6% growth per annum outlined in the 10MP is an extremely tall order.
“The 10MP takes us on the path of achieving Vision 2020,” he said. “Vision 2020 envisaged that Malaysia would have a per capita income of US$20,000 by 2020 but the financial crisis hit and and the economy slowed. Today, we need at least a 7% growth rate to even reach the US$17,000 per capita income by 2020.”
“The 6% targeted growth means that investments must grow at 12.5% per annum. But during the Ninth Malaysia Plan, investment growth only stood at 2% so this is a huge leap and I’m not sure if it’s possible.”
“Foreign direct investment (FDI) has only been growing at 1% per annum, which pales in comparison to China’s 10% and Singapore’s 9%,” he added. “Our FDI is practically crawling! It’s a far cry from when we were recording 9.1% growth before the Asian financial crisis. Something is seriously wrong here and the 10MP should be addressing this.”
Prof Ariff also hit out at the government’s fondness for throwing huge chunks of funds at the education sector in the hope of boosting it further. He bluntly stated that the main problem with the country’s education system is the severe lack of quality teachers.
“In Malaysia, being a teacher is a ‘last resort profession’, which means there is no passion or interest,” he explained. “We have to start attracting the best brains into this profession the way China does. And it does that by offering very good monetary rewards. In China, being a teacher is first choice because it is the only profession that provides 100% of salary as pension. This motivates people. In Malaysia, we pay peanuts and so we get monkeys.”
Formidable challenge
For Professor Rajah Rasiah, Dean of the Faculty of Economics and Administration, the allocation of subsidies 
presents a formidable challenge. He noted that the utility of money will be very high for the poor and very low or nil for the middle-income and the wealthy.
“The 10MP refers to providing equal opportunity, but does it really take that stand in its recommendation of mechanisms?”he asked. “Unfortunately, it doesn’t”.He said that while the poor will be able to survive and enjoy basic needs, they will not be able to cross the poverty line and contribute to the country’s economic growth.
“When these people are out of poverty, they are able to think productively and participate in the process of achieving Vision 2020,” he opined. “But what we currently have is a misallocation of subsidies. Subsidies that are meant for the poor are being enjoyed by everyone, both foreigners and locals. The treatment of social welfare here seems to be one that takes a penny-wise, pound-foolish approach rather than one that is dynamic.”
While he praised the 10MP for recognising the urgent need to quicken GDP growth, he also said that the plan needs greater depth and dynamism in terms of turning its 10 initiatives into reality.
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