Zeti’s sterling career marred by 1MDB misstep

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YOURSAY | 'Malaysians will have to carry the burden of 1MDB's unresolved issues.'

Zeti: We warned 1MDB of debt dangers as early as 2014

Abasir: "She (Bank Negara governor Zeti Akhtar Aziz) said Bank Negara had issued two memorandums to the Finance Ministry flagging the dangers of the fund’s mounting debt."

And it appears that the Finance Ministry secretary-general, who was also a member of 1MDB's board of advisers, simply tore up the memorandums and ignored the red flags.

Clongviews: Zeti will wrap up her term by making a submission for "administrative action" against 1MDB to the attorney-general (AG). Then she tells Malaysians to "move on".

A refined farewell speech. And a hard-earned retirement. But Malaysians will have to carry the burden of 1MDB's unresolved issues.

Anonyxyz: You mean the responsibility of Bank Negara governor is just to issue harmless warnings with no action? That looks like a very lame excuse.

Amateur: Zeti is very cautious in her comments "... had the fund gone into default, the financial system would not have too severely stressed". She said it ("not too severely”) back in 2014 when the 1MDB debt was lower.

I suppose today the debt has increased. Are her comments still valid now?

Prudent: Her posturing fools no one. The year 2014 is way too late. By that time, the horses had already bolted from the stables long ago.

Baiyuensheng: Zeti, what about the large illegal transfers? How come Bank Negara did not take drastic action against these transfers then? Anyone else doing the same would have been hauled up.

Uragt: Where were the warnings for the billions of ringgit that went in and out of the country since 2009? Were your bank officers sleeping? What about Bank Negara’s internal audits?

Surely, any junior officer would be able to pick out a multi-million-ringgit transaction.

Hermit: Indeed, every bank is mandated to have a locked room where a copy of every banking transaction is filed and kept for auditing purposes. The key to this room is handed over to the auditor whenever he comes to audit periodically.

Bank auditors could be in the form of the bank internal auditor or an external auditor, and surely the transactions could not have eluded powerful auditors from Bank Negara.

An auditor has means to verify whether a transaction is erroneously or purposely not reported. Either the auditor is not competent, or has been compromised.

Sabahan: Zeti said "move on"? When the guilty have not been punished, how are we to move on? Can a murderer ask the judge to move on, and put the murder behind him, as it has already occurred?

Donplaypuks: What nonsense from Zeti. How can the 1MDB rationalisation plan not address the multi-billion fraud, and move on?

You mean if you sell prized assets and cover the hole in the balance sheet, then the fraud can be forgiven? No one goes to jail?

And Najib gets away with lying about RM2.6 billion "donation", plus another RM1.8 billion, and the SRC RM42 million allegedly milked to pay for wife Rosmah Mansor's jewellery and shopping and for election bribery and rigging?

Isana: Can't blame you too much, Zeti, it's the 1MDB adviser who had signed without even knowing the contents of what he was signing.

And yes, he is giving away free laptops in Sarawak now. Now I even wonder if he knows it's a laptop he is giving away.

Factnot Fiction: I doubt that Najib as well as most of his gang understand how much money is being owed; they just view the debt as easy money that does not have to be paid back. This is typical of the ‘tuan’ mentality.

Funny 1M: It's okay. When petroleum price falls and Petronas cannot give more money to the government, it still has the Twin Towers to sell off.

Mainland Chinese have the cash. Just like how our Pemandu chief Idris Jala turned MAS around, selling off its headquarters and airplanes.

It's no problem because Malaysia's economy is doing well and we still have plenty of land and assets to sell off.

Ourvotesdecide: When an illiterate or semi-illiterate person goes to court and pleads that he had signed or thumb-printed a document without knowing or understanding its contents, the court would still say he is still bound by the document by virtue of his signature or thumb print on it, i.e. he has effectively signed it.

However, when the prime minister of a country signed a document and then later on simply said that he signed without reading or knowing its contents, then the people or at least the voters of that country must have been the most stupid and foolish for voting or having such a person as prime minister of the country.

Cogito Ergo Sum: 'Ourvotesdecide', you just defined in the most appropriate language the party that the semi-literate belong to. The 1MDB saga has now gone from the sublime to the ridiculous.

Anak JB: We have a conflicted prime minister-cum-finance minister-cum- adviser of 1MDB which has put the entire financial system at risk, and he is still out there talking like nothing has happened.

Lamps: Too bad we have a PM who does not care about the debts of 1MDB because he knows, it's not he who has to pay for it, it's the rakyat who pays for it. That's why Najib must go.


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