This one was Li Chang chun, one of the 9 bosses in the Political bureau of the CPC Central Committee, here is the event news on the media.
english version here:
How bad is corruption in China ? (Temprarily Closed)
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This one was Li Chang chun, one of the 9 bosses in the Political bureau of the CPC Central Committee, here is the event news on the media.
english version here:
bladerunner
Banned Idiot
If Citi wanted Pundit services so much that they were prepared to meet his renumeration demands, then thats Pundit's good fortune. Theres nothing corrupt about it.
Also there is nothing corrupt about the CEO run the company into the ground, and uses their influence to get the Secretary of the Treasury John Snow (Former CEO of Goldman) to bail them out.
Seriously dude, did you actually benefit from that big F up?
Don't double standard, if Citibank CEO got a very big money, everyone will say it is bonus or renumeration, but Wen jiaobao's family earned money, everyone think it is not suitable. Both of them weren't corrupt.
solarz
Brigadier
All candidates buy votes in democracies. The only difference is whether the money is coming out of their own pocket, or out of all the tax payers' pockets.
anyway, there is even a book on this subject.
my incling is democracy in the short term will make chinese offical more corrupt, since what's under the table and deeded bad will be legal as just normal "compaign fund raising" and lobby activities. however, hopefully, in the long the tranperancy of the process will grafuation clean it up. though there will be a risk that governance might go to philippines level, and that's bad.
my incling is democracy in the short term will make chinese offical more corrupt, since what's under the table and deeded bad will be legal as just normal "compaign fund raising" and lobby activities. however, hopefully, in the long the tranperancy of the process will grafuation clean it up. though there will be a risk that governance might go to philippines level, and that's bad.
Thank you, that article described exactly what I wanted to express.
This is very different from corruption in Africa, South East Asia and India where government official just shake you down for a quick cash at check point.
That's a bit optimistic, because US faces very different problem in corruption than China. So I'm not sure how the two can compare.
The last line is pretty hilarious.
bladerunner
Banned Idiot
Seriously dude, you need to get your facts right.
While Pandit may not have been the right choice for CEO of Citi you can't put all of the blame on him. The cause of Citi's woes were laid by the preceding CEO "Prince" and the portfolio of toxic loan's that built up under his stewardship. Pandit was brought in to try to stabilise the situation. Futhermore Citi was not the only bank to enjoy government help .....remember "Bank of America and its billions of dollars of government bail out?.
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bladerunner
Banned Idiot
Theres no double standard.and you are comparing apples with oranges.
In the West remuneration of senior employess of public companies are open to scrutiny by the board and shareholders.
Unfortunately for the likes of Wen,who is a man of modest background and means, and said to be earning a modest $US20,000 as Premier, and as reported in the NYT heads a family that reputedly controls assets worth $2.7billion, much of it in a less than transparent manner acquired during his term as Premier. While I do not know if that is true, the lack of transparency that surrounds their dealings certainly doesn't help.
As I recall Wen did offer to make his financial affairs public as part of his push to get his "Sunshine" policy requiring public officals to disclose their financial affairs, made into law. However I dont know how far he got.
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Two points
1) I understand that most of the Wen Family wealth is the result of a canny investment at ground level with a Chinese Insurance company that made its original shareholders a grade A killing at its IPO a few years ago.
2) We, the tax payers of the western world, have been given no choice but to give trillions of our tax to the banks to bail them out for their fiscal incompetence and to do so with often injurious results to our own financial welfare and well being. We then learn that insult is added to that injury by way of the bankers responsible for this incompetence are still in office and still living in the style that they have very clearly become accustomed. This is corruption on a scale that dwarfs anything seen in any other part of the world.
These people should at the very least been sacked, arrested, charged, convicted, imprisoned and wholly sequestered of every last single asset that they had ever accumulated.
The failure to do so simply labels London and New York as the sleaze capitals of the world.
Do I sound angry (and not a little ashamed) about this? I should do, because I am furious. I also say shame on any of you that are not.
1) I understand that most of the Wen Family wealth is the result of a canny investment at ground level with a Chinese Insurance company that made its original shareholders a grade A killing at its IPO a few years ago.
2) We, the tax payers of the western world, have been given no choice but to give trillions of our tax to the banks to bail them out for their fiscal incompetence and to do so with often injurious results to our own financial welfare and well being. We then learn that insult is added to that injury by way of the bankers responsible for this incompetence are still in office and still living in the style that they have very clearly become accustomed. This is corruption on a scale that dwarfs anything seen in any other part of the world.
These people should at the very least been sacked, arrested, charged, convicted, imprisoned and wholly sequestered of every last single asset that they had ever accumulated.
The failure to do so simply labels London and New York as the sleaze capitals of the world.
Do I sound angry (and not a little ashamed) about this? I should do, because I am furious. I also say shame on any of you that are not.
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