Election Fund-Raising 101: The Genting case
YOURSAY ‘Fund raising through stock market not possible as it’s stagnant.’
Bersih: Did 1MDB funds help BN steal GE13?
Ferdtan: In the past, during Dr Mahathir Mohamad’s time as prime minister, BN’s election campaigns were financed through the stock market.
Umno’s share counters were earlier secretly acquired at low prices in preparation for the general election. The market prices of these companies would then be ‘stirred’ to make the prices rise dramatically.
These shares would be disposed at a huge profit to fund BN’s election campaigns. Of course, along the way a few smart Umno insiders would also have invested in these shares themselves.
Nowadays, this method is not possible as our share market is stagnant. Therefore, they use this indirect way of using a third party, Genting, as a vehicle to allegedly divert 1MBD’s fund through the purchase of its assets at inflated prices (and then use part of the proceeds for BN’s election campaign).
SemoLina: In fact, billions of ringgit were involved and this alleged Genting's 'donation' of RM31 million is just chicken feed. It could be a red herring to draw attention away from kickbacks of maybe even larger amounts going into personal pockets.
Hmmmmmmmm: Do you really think MACC (Malaysian Anti-Corruption Commission) will investigate this? They may make some moves to make it look like they are doing something, but that would be all.
They are actually part of the problem, a member of the axis of evil which includes PDRM (Royal Malaysian Police), AG (attorney-general) and the EC (Election Commission).
Fair Play: Bersih, get real. Requesting part of the problem to solve the overall problem is akin to wishing to see the sun rises in the West and sets in the East.
Odin Tajué: You men and women at Bersih, your call for action by PM Najib Razak and the MACC is a very big unfunny joke.
As we all know by now, Najib will deny anything and everything incriminating him. Issuing of bare denials is his forte.
If by refute you mean disprove, he is definitely unable to do so, just as he has been unable to disprove criticisms against the 1MDB grand scam.
And the MACC investigating Najib? Yes, of course it will - it will investigate Najib when hell freezes over. All demands made so far have fallen on and bounced off Najib's ears.
You need to marshal a crowd large enough to render the police's tear gas, chemicals-laced water and batons inadequate and take to the streets. Anything less than that is just a sheer waste of time and energy. And, of course, of print space.
JD Lovrenciear: Yes, let us get real here. Do you think there ever will be any investigations? You must be kidding.
We need to explore an avenue once and for all. Far too many times, we made protest noises and nothing happens. Just look at the 1MDB debacle.
Even Mahathir is unable to make tidal waves. Depressing yes, but that’s the reality. By the time the Greece tsunami hits our shores, the crooks will be gone, nicely basking in foreign paradises.
LKT: To expect the chief commissioner of MACC to actually take Umno and Najib to task for buying the GE13 with money funded from dubious business transactions, when he actually reports directly to Najib? What are the chances of it going anywhere?
When we have 47 percent of voters who are stupid and naive enough to believe in the promises of Najib and Umno before election? When the MACC, together with PDRM, EC, the appellate branch of the judiciary together with the various government agencies around the country have been constituted to prioritise the survivor of Umno?
We will need a perfect storm to cleanse Malaysia of the monster called Umno.
Anonymous_1372741039: Is there no end in sight of the government's unethical improprieties? We have been deluded by one affair after another.
The rakyat must realise that the people and the nation will ultimately suffer with any such misdeeds. Wake up or suffer the consequences.
A change of government must be considered at GE14. They must also be held accountable and liable if proven to be true. The on-going 1MDB and now Wall Street Journal ’s (WSJ) revelations, if true, cannot be tolerated or condoned.
Anonymous_1372741039: The government must proceed with proceedings to sue WSJ for such malicious and destructive reporting with the evil view of bringing down an elected government.
MACC cannot ignore such blatant accusations and must initiate a thorough investigation to clear the good name of the government.
Not Confused: Anonymous_1372741039, yes, BN must sue WSJ and the MACC must investigate these claims. Then the full and irrefutable truth will be opened to public scrutiny.
However, I think it’s pretty obvious to us all that far from demonstrating how clean, efficient and transparent the government is or has been, it should confirm how corrupt, deceitful and underhand this government actually is.
To copy the thoughts of the Johor crown prince - "bring it on"!
Vking: WSJ has an ulterior motive to play up the 1MDB matter to bring more chaos to Malaysia.
Its report is mere speculation and baseless. If WSJ has any hard evidence on misuse of 1MDB funds, it should pass it on to MACC or any NGO handling corruption issues.
If none, WSJ better stop releasing this kind of news.
Hopeful123: Before it was former DPM Anwar Ibrahim's fault for every misfortune. Now that he is in prison, the opposition is the scapegoat.
It doesn't matter who reveals the truth, whether the Westerners or Easterners. The point is, 1MDB is used to save BN in elections and not so much an investment entity.
Doc: I bet Najib will use his famous three-pronged strategy in dealing with this latest scandal:
1) Deafening silence - in short, keeps his mouth shut and let his ministers make nonsensical statements to support him. In the end, the ministers will look and sound like idiots, thus distancing him from the fiasco.
2) Blame game - assign someone to be the scapegoat for this debacle, for example, Dr M was the scapegoat for the falling ringgit.
3) Conveniently leave town for overseas and come back when the scandal has blown over.
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