Similarities and differences between BMF and 1MDB scandals

‘How I covered the BMF scandal in the 1980s’

Abasir: This desperate digging up of the Bumiputra Malaysia Finance (BMF) heist by Umno apparatus even as the country continues to gape at the humongous 1MDB hole, has had one unintended consequence.

It has allowed Malaysians an opportunity to reflect on the similarities and differences between the two.

First the similarities: in both cases, Umno and its leaders/cronies/proxies were involved; in both cases, connected (aka corrupt) Malays entrusted with public funds had their ‘prayerful’ hands in the till; and in both cases, crafty Chinamen made some big money with the willing (and well-paid) help of the proud defenders of the Malay race.

As for the difference, one was investigated by a three-man panel, its findings made public and debated in Parliament while the other was “investigated” by a three-man team which was unceremoniously disbanded/dismissed and the so-called “auditor-general’s investigation” as well as his report was declared “official secret” for reasons we all know.

Rupert16: Yes, the auditor-general’s report on the BMF scandal was made public and debated in Parliament, so why is this not the case for 1MDB and SRC scams involving MO1 (Malaysian Official 1)?

Isn’t this more important besides being an issue involving massive amount of public funds allegedly ending up in the PM’s pockets?

RM2.6 Billion Turkey Haram: The similarities between BMF and 1MDB are – both were cheated by ‘Chinamen’ and both were investigated by the auditor-general.

Differences are – no money from BMF ended in then PM Dr Mahathir Mohamad’s private account, but billions from 1MDB allegedly ended in MO1’s private accounts.

Secondly, no land or prized assets were sold to China, but 1MDB sold land and prized assets to China. Lastly, the auditor-general’s report in BMF was made public but not that of 1MDB.

Incidentally, Mahathir was willing to testify in RCI (royal commission of inquiry) for BMF, but MO1 runs away like a coward at the mention of an RCI on 1MDB.

Drngsc: So, what you are saying is that the BMF scandal was fully investigated, in a transparent manner and criminals were prosecuted and that is in sharp contrast to the present 1MDB scandal, which is fully investigated by all the countries around us and so poorly investigated by Malaysia, and the findings of the very limited investigations is as opaque as the concrete wall and of course, the alleged criminals are still walking free to embezzle and steal more money.

Umno Youth, you still want an RCI on BMF? Go check out the government archives. Let’s have an RCI on 1MDB instead.

Anonymous_1419577444: Would you first try to stop a thief who is currently robbing your house? Or would you instead go after the other thief who robbed your house many years ago, while this thief is carting away your money right under your nose?

Perhaps Malaysians can ask themselves these questions.

What’s New Najib: This article by former journalist M Krishnamoorthy reflected the good old days of Malaysian journalism. Professionalism was then practiced.

This paragraph caught my eye and I wonder if our Umno no 1 leader have the marbles to follow the same, “Despite the financial setback, then prime minister Dr Mahathir Mohamed gave the three investigators a free hand to get to the bottom of the truth on how BMF officials hoodwinked the bank and the government.”

Odin Tajué: Indeed, Krishnamoorthy, those were the days when journalists were journalists, and journalism was the fourth estate.

Today, journalists are usually transcribers, and journalism a “rubber” estate left to return to nature. Those were the days when we enjoyed reading newspapers; today, we don’t even look at them.

Anonymous_1372130686: This article clearly differentiates how the BMF and the 1MDB scandal were treated. It is hoped that this will enlighten those with short memories and those with no memories of the earlier events.

Umno Youth, let’s subject 1MDB to the same standard. Or do you still want to score brownie points with MO1 in defiance of the truth?

Abasir: As evidenced by everything that has happened with regard to the so-called Auditor-General’s Report on 1MDB, we may justifiably conclude that Ambrin Buang cannot hold a candle to the late Ahmad Noordin.

Anticonmen: The crux of the matter is, checks and balances in BMF were removed or overridden by those in authority. This resulted in massive fraud. It’s the same situation now with 1MDB. No difference.

It’s official now, Zaid joins DAP

Rupert16: DAP needs more good Malay brethren like Zaid Ibrahim in the party. Also, they should be given opportunities to hold key leadership positions in the party based on merits, which means capable members such as Ariff Sabri Abdul Aziz, Aspan Alias, Abdul Aziz Bari, Zaid, etc, should be encouraged to be more involved in the party’s decision-making process.

PDev Anand Pillai: Hopefully, Zaid will use this new platform to bring in independent-thinking Malays who view leading this country from an angle of being a Malaysian first as opposed to putting ethnicity, race and religion first.

Penang, Selangor, the west coast of Perak, the centre of Negeri Sembilan and portions of Johor should be his main aim. Even if BN cheats, which it will without saying, at least we’ll have to ensure that the two-thirds majority is not achieved.

Anonymous #28648954: The day he resigned from Umno in response to the illegal detention of Seputeh MP Teresa Kok, blogger Raja Petra Kamarudin and Sin Chew Daily journalist Tan Hoon Cheng under the Internal Security Act was the day I said “please join DAP”.

Now my wish has come true. Both Zaid and Saifuddin Abdullah were the only two good men left in Umno. All the best to you, Zaid.

Clever Voter: The image of Zaid as a nice guy will not auger well with dirty politics where bias and double standards are widely practiced, and where insults have no boundaries.

But DAP should have learned from their Tunku Abdul Aziz Tunku Ibrahim experience. Zaid’s leadership will be put to a test almost immediately as the party desperately needs to rid itself of the image as a Chinese-based party.

It will do everyone a favour if party supremo Lim Kit Siang steps down, allowing younger ones to go up. There are a lot on Zaid’s plate. If Zaid is to fire on all four cylinders, he had better get cracking.

Abasir: Zaid, at long last, may have realised that he cannot hitch his wagon to any Malay-Islam dominated party for reasons that are well known to all but the incorrigibly naive.

This move to embrace the party that has been, relatively-speaking, most consistent in its messaging like him could well be his political swan song.

As for DAP, it can only augur well while buttressing its position as a party for all Malaysians. But can things go awry for both?

Yes, because this is politics where nothing is what it seems and “skimmed milk masquerades as cream”, as WS Gilbert had put it.

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