Friday, 24 April 2015

Dismally Diss-full Disdain

I had wondered about this weird maths that is the 1MDB debt and liabilities when the RM42b (At least? At most? Nobody knows?) was being bandied about.

By blogging about it, Che Det has sort of enabled the mainstream whatever to tap onto his comments and pursue this same line of enquiry.

Really, what were the billions used for and how did it grow that large?

On a micro economic level, people (you, me and everyone else who still cringe when they see the GST word on the receipt) largely knows how one’s debt grows: your unfettered credit-fueled spending like its nobody-else’s business.

Usually, it is none of anyone’s bleeping concern, except for those directly impacted by your orgy in maxing-up credit lines.

Could the same analogy be drawn when we talk about 1MDB?

BNM has pointed out that runs on the 1MDB debt liabilities would not cause a systemic risk to the local banking system.

Maybe, maybe not. At most some people would be getting less in their bonus payment, perhaps.

So what is it about 1MDB debts and liabilities that so rile us (meaning those who cares enough to follow the tech-filled saga closely) up?

Could it be the dismal adherence to governance aka “ikut suka aku, aku punya pasal la” stance to public scrutiny?

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