VOXPOP 'The scheme is very similar to the sub-prime fiasco. If the owner defaulted - who will shoulder the losses? Me?'

Pakatan MPs rise to Raja Nong Chik's challenge

Up2U: Federal Territories Minister Raja Nong Chik Raja Zainal Abidin, helping impoverished people to get housing is correct but using workers monies in the Employees Provident Fund (EPF) is not correct.

The government can set up special funds just like the Credit Guarantee Corporation (CGC) or Small and Medium Enterprises (SME) Fund and let commercial banks manage them in a prudent basis with non-interference from politicians.

Many initiatives launched by the BN government are good and beneficial to the people but it's always interference from cronies that spoil the proper implementation.

Loyal Malaysian: Kudos to the Pakatan MPs. Let all the cards be on the table. If the government can convince these three MPs that the housing loan scheme using EPF funds is above board, then the rakyat will surely throw their support behind it.

We are not opposing for the sake of opposing, but the facts indicate that the workers' hard-earned EPF money may be in jeopardy.

Pemerhati: The EPF money belongs to the workers and the money is meant to be invested safely so that the workers get a decent amount of money when they retire. It would be most unfair to put their money at risk by lending it to people who may not be able to return that money.

If Umno stops stealing the people's money, the country will not have so many poor people. According to the Auditor-General's 2008 report, the losses due to corruption by the BN thieves and their cronies is about RM28 billion. This amount is based on what the AG got to audit and not the other crooked deals (like Mahathir's and Najib's kickbacks on IPPs, submarines, etc).

If you add all that and also the likelihood that by 2011 the amount stolen is likely to have gone up, the total amount stolen could be around RM50 to RM60 billion.

Raja Nong Chik says he needs RM1.5 billion to help the poor. If the Umno thieves are not so greedy and a little caring, then all they have to do is lend a small fraction of the money they have stolen.

Kit P: A lender of last resort is one who lends money to people who are unable to get normal commercial loans. There can be very good social reasons to lend to them and help them own a roof over their heads.

However, the EPF contributors' hard-earned retirement funds must not be used as a lender of last resort.

Wira: It is stupid of EFP contributors who think 5.5% return on an investment which banks deem risky is a good investment and complain when their MPs highlight this to the public.

Maybe rich Umno cronies never need to pay EPF. That's why they are not worried about bad investments made by the employees' fund for political purposes.

Anonymous: Those borrowers who do not qualify for a commercial bank loan will be at high risk of becoming defaulters.

PM Najib Razak and Raja Nong Chik said that there is no risk because the property will double or triple its value. In real life, it doesn't work like this.

Try evicting a defaulter, his spouse and small children out of his unit. It can be a very emotional trauma. Maybe they don't mind these poor people sleeping in the street after all.

Baiyuensheng: The scheme is very similar to the sub-prime fiasco. If the owner defaulted - who will shoulder the losses? Me? Then why have I not been consulted that my money is going to be used this way?

MACC in last leg of probe, Shahrizat may be quizzed

Trumpet Call: The rakyat awaits with bated breath the final outcome of the National Feedlot Corporation (NFC) investigations. There must be no cover up. Every nook and detail must be checked and counter-checked against proper corporate financial practices and against the law.

We want to see integrity and accountability of the highest order. That's the standard we are expecting. Anything short of this will be seen as compromise and political manoeuvring and it will not be accepted, no matter who says it is okay. The people hold the power of the ballot box.

Cherry Bun: There could be a bargain like this: Shahrizat Abdul Jalil would threaten to expose some other corruption in Umno if the attorney-general (AG) dares to charge her in court.

There could also be a show case whereby AG produces a faulty case against her in court and later this is thrown out by the court on basis of "insufficient evidence". In this way, she and family members are all off the hook and continue enjoying their luxury lifestyle.

Changeagent: Shahrizat 'may' be quizzed in the last leg of probe. If that is the MACC's standard operating procedure, I wonder why Teoh Beng Hock was quizzed in the first leg instead.

Kgen: Shahrizat may be quizzed. Translation: Shahrizat may be called in for some chit chat over ‘teh tarik' and ‘curry puffs'. She won't be interrogated overnight or given flying lessons.

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