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ec. 24, p1

The Supreme Audit Agency (BPK) revealed on Monday that the state lost more than Rp 7 trillion (US$574 million) in the graft-ridden bailout of the former Bank Century.

The agency made the revelation as it handed over the audit report on the bailout to the Corruption Eradication Commission (KPK).

Your comments:

Where did the bailout funds go? Many bank account holders lost their money and investments. Some must have benefited from the bailout and it seems they were not
clients of the bank. It is time you lift the lid off this corruption scandal and expose the truth.

Henry Manoe

Look at the effect of one main bank collapse in America. The bailout of Century was a must. The thieves that put the bank into the perilous situation are the main culprits. Anyone who gained financially through the rescue should also be prosecuted.

Sri Mulyani, the then finance minister, did a great job. However, she was punished for doing so. Forced to resign, she was immediately installed at the World Bank in the second-highest position.

Indonesia lost one of the smartest people in government. The main point is that this bank could not be allowed to fail. Consequences to all would have been horrific.

Craig Mcleod

Right before her resignation, the legislators, spearheaded by the Golkar Party, accused Sri Mulyani Indrawati of a crime with the bailout of medium-scale Bank Century in 2008. Critics of the bailout claim it was done without legal authority and without proving a capital injection was needed to prevent a run on other banks. The Bank Century bailout cost the nation Rp 6.7 trillion.

Sri Mulyani has defended the bailout as necessary given the uncertainties in the global economy at the time and denied any wrongdoing.

However, criticism of Sri Mulyani'€™s policy also came from former vice president Jusuf Kalla. In his harshest comment yet on the controversial Bank Century bailout, Kalla denied claims by former Bank Indonesia officials that if the lender had been allowed to fail, it would have had a systemic impact on the country'€™s banking system and
economy.

Furthermore, all of the nine factions on the House of Representatives'€™ special committee agreed that there were suspicious and possibly fraudulent transactions during the bailout period beginning in November 2008 and evidence of money laundering.

They all then said they lacked the expertise to do more and called on the National Police and Corruption Eradication Commission (KPK) to take over.

Pedro Gonzales