Saturday, December 9, 2006

"Govt will not always bail out GLCs"

Paradox of Govt Bailout of GLC


Isn't this interesting?

Prime Minister Abdullah warned GLCs that the government WILL NOT ALWAYS bail them out!

What does it mean? It must mean that: the govt will continue to bail them out, but not so often.

In another words, the govt are prepared to continue to bail out GLCs but their failure must not be so often, repetitive each year so long as someone benefits in their failure - is that right? In PM words, the govt would not allow GLCs to fail and if they fail, the govt MUST help them first and if the govt could not find any reason why they should continue, then only they will be wind up.

So long as the govt can find a reason, no matter how silly it is, the govt will help to bail them out.

I really don't understand what our PM meant. Probably, Raja Petra Kamaruddin can explain better.