Your comments on the swelling cost of bailing out Bank Century, which grew from Rp 2.27 trillion (US$250million) to Rp 6.76 trillion, sparking public debate and suspicion about its urgency and necessity.
When the government bails out a little bank with big money, common sense is lost.
Andoko Darta
Jakarta
An audit of the bailout by the Supreme Audit Agency (BPK) is a must and should be conducted thoroughly and, most important of all, independently. If so, the main reasons for the case - regardless of what they are - would be revealed. If irregularities are found, then the Corruption Eradication Commission (KPK) will launch a full-blown investigation. If it turns out the commission has to play a part, it should also be professionally independent.
The public are looking forward to being provided with the truth.
Hartfied Manggara
Tangerang
If the bailout has sparked suspicion, that's democracy. As regards its urgency and necessity, only the government's monetary and financial body knows why this policy had to be taken and should be held responsible.
They have done the same thing to a lot of banks and companies in the United States. As long as there is no manipulation and corruption involved, that's OK. Observers are always better than the pilot, that's what they think, anyway.
E. Nurdin
Jakarta
It seems to me the government and the parliament (DPR) have to investigate and find out more about these notions of so-called "urgency" and "necessity". I believe the swelling cost of Bank Century's bailout sounds like the moral imbecility on the part of the people involved in the decision making on this case.
I mean a person who is intellectually and emotionally sound, but ethically defective and lacking in appreciation for the feeling and rights of others. The disparity from US$ 250 million (Rp 2.27 trillion) to Rp 6.76 trillion is not a small amount of money and what this money could mean to others citizen of Indonesia, especially low-income ones, the millions who still earn less than two dollars a day.
It is not too late to change one's behavior, to demonstrate the capability of intelligent planning and to learn from one's mistakes. It was not that long ago that Indonesia faced the BLBI (BI liquidity assistance) saga and we are still trying to understand what happened then.
Last but not least, let us not forget that the economists, the bankers, the civil servants and state apparatus do not have the right to claim they have this autonomous morality ("the making of decision that is right because it seems correct at the time of occurrence rather than based on some external standard" as Ray Corsini put it in 2002).
As this concept expresses the idea that what feels good must be good, it is better to forget it, in my opinion. We have a people and a country to devote ourselves to and to serve.
Maria Pakpahan
Jakarta
The bailout of Century Bank for US$625 million is totally absurd. I never had the opportunity to go through Century Bank's balance sheet before the problem, but if they had deposits of this value, it is understandable, but, if not, then it has to be rigorously investigated.
If initially $250 million was approved, why was further cash sanctioned? And if it was, then the bank and the LPS should have given details of each deposit and depositor to the public.
Your article dated Sept. 3 says: "SBY shies away from Century Bank bailout case" and the sixth paragraph confirms that the President does not want to intervene in the bailout.
How is it that the President can wash his hands of it like this when the money is from the government itself? Why is he not ready to intervene or accept responsibility and punish those involved? Being the head of the nation, it is his duty to look into all matters concerning the administration, financial health etc.
To run a company, the director or board of directors appoints a general manager, managers and supervisors etc, but if managers or supervisors mess around, then the board of directors has the right to fire that person and take action against him, in the same way that the President has the right and duty to investigate this matter.
Rajesh
Jakarta
