Friday, September 11, 2009

Bail Out?

I just questioning, why people think that Rp. 6,7 T for Bank Century is a bail out? "Bailout" terms will confusing us and misleading about, where did the money came from?

It is important to understand that Rp. 6,7 T is come from LPS (Lembaga Penjaminan Simpanan). It mean there are no one rupiah is allocated from APBN. LPS funds was came from BPPN liquidation on 1998 (BPPN is a temporal institution which created facing '98 crisis) and collected premium from all Indonesian bank. So, protest again LPS injection, because it use "society money" (uang rakyat), is no more relevant.

But, I agree that we must questioning the transparency and calculation of injection amount.

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