SMOKE AND MIRRORS ONLY CONFIRM THE IRRELEVANCE OF OINK & THE DECEITFUL ILLEGAL REGIME

That old weed head shamimi (http://www.fijilive.com/news/2010/03/23/24584.Fijilive) is in no position to be pointing her guiltladen finger at the SDL Government when she and her coupster chums have committed the biggest crime ever in Fiji.

The National Bank of Fiji crisis was, to date, the biggest financial scandal in Fiji. In mid-1995 the state-owned bank was running bad and doughtful debts of at least $90 million. The figure progressively rose to $220 million, or 8% of Fiji’s GDP.The story, but not its repercussions, ended in late-1998 when the government, in essence, raided the national provident fund to make good the financial shortfall.

In the face of public outrage and media scrutiny, the government of the day attempted a policy of damage control by minimising the seriousness of the situation, by resisting demands for a public inquiry, by declining to provide police and the Office of the Director of Public Prosecutions (DPP) with extra resources to investigate corruption, and by attempting to muzzle the press. In the face of proposals for substantial downsizing, the NBF staff went on strike and negotiated better severance deals. Meanwhile, as part of a rehabilitation regime, NBF was divided into a good bank (the eventually privatised NationalBank) and a bad bank (an assets-management bank). Soon after, the courts threw out all the major prosecutions mounted by the Office of the DPP. The story, but not its repercussions, ended in late 1998, when the government, in essence, raided the national provident fund to make good the financial shortfall.

Sound familiar?

Well folks, the bipolar oink is giving a repeat performance, he’s out of his depth and the offsprings of the beneficiaries of the NBF crisis are the very ones fuelling the ongoing hollow sound of the Nations coffers and the dire straits Fiji is in.

We are hoping (fingers crossed) the $millions of overseas aid sent to assist the hapless victims of Cyclone Tomas reaches them, just as we are hoping the $120m approved by the bukucara illegal regime to shore up the Fiji Sugar Corporation does not find its way into some offshore bank account for the almighty bolt to avoid incarceration at Naboro.

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2 Responses to “SMOKE AND MIRRORS ONLY CONFIRM THE IRRELEVANCE OF OINK & THE DECEITFUL ILLEGAL REGIME”

  1. Hari Says:

    What a total blockhead, why put more money in a coporation whose life depended upon the European Union money and political conditions? If Frank doesn’t do what the European Union want him to do-ie hold a fair and free election by a certain time? They really don’t have to buy your stupid sugar-frank. What will you do then? Plant more sugar and see if they’ll reject it again next year? Solution, is for you to get out and call a free and fair election.

  2. Annon. Says:

    Do people honestly believe the EU (and us) are that stupid?

    Problem with Viti’s sugar industry is not about Land as the regime constantly claims – its about the Executive. Only thing that will savet his
    industry (and thats increasingly doubtful) is large scale ‘mechanised farming’ – as pratised by our major global competitors such as Australia and Brazil. They couldn’t even harvest this years crop because the Mills kept breaking down – so wanting to increase production is merely spin.

    Also the small matter of the $80 million + debt they owe Indian Banks?

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