Reading Chang King-jen's article (Taiwan's health care system is in a mess, Nov. 23, page 8), I would like to add the following phrase: And Taiwan's financial system is in a serious trouble!
I am a foreigner and an investment banker. I have been scrutinizing Taiwan's financial system for the last eight to nine years and have the following to say: None of the ministers of finance has ever been serious enough to cure the problems facing the financial institutions, and the present minister of finance is too arrogant to even look into the problems. His failure to arrest existing problems will bring the whole financial system down, making Taiwan's financial system as vulnerable as those of Thailand, Japan and South Korea.
Stop blaming foreign investors for selling our share holdings, because we have every right to sell our investments if we suspect any problems arising from the local economy, be they political, financial or economic.
May I suggest that the minister of finance start seeking assistance and advice from professionals and those of the neighboring countries with regards to financial reforms in order to arrest existing problems before it is too late. No financial market in the world, with the exception of Taiwan, has ever reduced its stock trading limit whenever there is heavy selling. Such an action would cause even more suspicions rather than solve problems.
Michael B. Cled
Hong Kong
Pilots criminally liable
I have been following your coverage of the tragic crash of Singapore Airlines flight SQ006 from my home here in Los Angeles, California. My interest is due to the fact that my wife's best friend, Fong Roberts, lost her life on that flight. As one might expect, we were filled with disbelief that she was no longer with us.
As a licensed pilot, I would be one of the first to sympathize with the international professional pilot organizations regarding the criminal investigation of the pilots by the Taiwanese justice officials.
However I must respond to their lack of acceptance regarding the known facts surrounding this accident.
First, the pilot in command had logged more than 10,000 hours of flight time prior to the accident. Second, this pilot had extensive recent experience operating into and out of CKS airport. Third, the pilot in command commenced a takeoff roll on a known closed runway; a runway that had been closed for quite some time.
These facts present a profile of overt gross negligence, in my opinion, that warrants a full criminal investigation. When one assumes responsibility as pilot in command of a commercial aircraft, one also assumes liability for all the souls on board, as though he or she were a guardian or parent. Ultimate responsibility of the safety of the flight and passengers rests solely upon the pilot in command.
If death occurs as the result of human error, it is the duty of local officials to investigate the cause and to come to a reasonable conclusion as to what remedy, if any, would best serve the public interest.
"Oops, sorry" is not a suitable response from the flight crew or from the pilot associations representing their interests. The recent threats by these pilot associations to reduce flights to CKS because of the ongoing investigation are lame and without merit.
If it were a train that crashed, with 83 airline pilots on board, they would be clamoring for a detailed police investigation, regardless of the cause. If you assume the liability you must accept the results -- whatever this may be.
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