Saturday, July 4, 2009

Crimes of Finance

(click above for article)

I remember how, on the saree-tails of Sheikh Hasina, the Beximco Group allegedly rigged the stockmarket in 1996, soon after the petticoat came to power; today, again, on the same garmented ladder of the same woman, and again as soon as she came to power, the Beximco Group appear to be treating other people's money as their own.


"The prime minister, Sheikh Hasina, appeared on television in a question-and-answer session on every subject conceivable. It was a charade of 'transparency'. Among the three interviewees was one Debapriya Bhattacharya, well-known to the author since his childhood days, and well-known among the elite today (indeed, he is currently president of the Trade and Development Board of the United Nations Conference on Trade and Development, UNCTAD). He questioned the prime minister how it was that 50 million takas had been siphoned out of the country and the alleged masterminds incorrectly charged. He noted that it was regrettable, and the subject, of such enormous moment, was quietly shelved. But Bhattacharya had earned his fifteen minutes.

It so happened that Bhattacharya's mother, Mrs. Chitra Bhattacharya, was an MP of the ruling party, and the whole family was tight with the PM. This was what allowed young Bhattacharya to appear to be questioning the executive: a very well-choreographed family affair."

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