Ma’s New Year Gift: Organized Corruption of 18% Interest Rate

http://www.libertytimes.com.tw/2011/new/jan/3/today-p1.htm

This news make me extremely angry, and I believe I am not the only one feeling that way.  Basically Ma re-initiated the 18% interest rate (and fully legalize it) to the public employees (軍公教, Military, Government officials, and teachers).  There are no words to define this atrocity.

18%!  You don’t often get that much return even if you take on substantial risk like stock market investment.  And what is the current interest rate banks pay: between 1 and 2%.  Are they out of their fucking mind?!?!  Many decades ago, 18% made a little more sense because during that time interest rate were at 8 to 10%.  But now, 18%!!!  WTF!

I do not know if they have a special term for this type of stupidity.  I just want to call it organized/legalized corruption.  Majority of these group of people in the past decade constantly accusing DPP government of corruption, but they are the one that steal money from the national treasury / tax payers.  These people cover for the government’s action and feel no shame in doing this.  Despicable!!!

One teacher call-in to a talk show and just said they get more money because they work hard, pass the examination and are highly educated.  BULL SHIT!  Taiwanese private sectors have many talented, highly educated and hard working people that do not get paid as much.  Why you government workforce deserve that much more security and payment than the private sector workers.

The only people that I think deserved to get paid a little more are the military because they put their life on the line for the country’s security (more risk), and therefore, they might deserve a bit more.  But government workers and teachers?  In what way are they contributing more than private sector work force?  Even if for some fiscal economic policy reason, the government wants to raise the wages of public workforce, this is WAY TOO MUCH, especially under the current economic condition.

All I can say is: DAMN!

UPDATE: List of Legislators who passed this stupid law (all KMT).  Taiwanese history shall mark these people for their vote-buying corruption.  Source: http://www.twimi.net/

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1 comment so far

  1. Echo on

    That’s KMT’s organized, systematical vote buying for the elections to come.


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