In retaliation for the Executive Yuan's plan to enact a special law that would empower the government to investigate the KMT's assets, the former ruling party yesterday demanded a thorough probe into the government's role in the loss of up to NT$240 billion the National Stabilization Fund (國安基金) and four other government funds have suffered.
Leaders of the KMT legislative caucus announced that they would join lawmakers across party lines to set up an investigative committee as soon as the legislature reopens after the Dec. 1 legislative elections.
Justin Chou (
The KMT lawmakers, meanwhile, said they had no objection to any investigation into the KMT's assets as long as it is backed up by evidence.
"If the DPP government is to enact a special law based on solid facts, we will approve it according to the evidence presented," said Cheng Feng-chi (鄭逢時), a lawmaker and deputy executive-director of the KMT's Policy Committee. "The DPP cannot fabricate charges and spread rumors to defame the KMT. We can never accept a tactic such as this."
The party said the DPP government should be subject to investigation based on the same standard for "embezzling national assets."
James Chen (陳健治), also a deputy chief of the Policy Committee, said that the DPP government began intervening in the stock market using money from government-run funds when the TAIEX stood at 8,200 points, soon after the DPP came to power last year. The nation's main stock market index yesterday closed at 4,548 after dipping below 3,500 last month.
Losses related to the government's market interventions total about NT$240 billion, which Chen said were a result of the DPP's incompetence.
According to Chen, the losses have jeopardized the retirement benefits of veterans and government employees and are expected to increase government debt.
Chen said the government owes the people an explanation as to who was responsible for the decision to intervene and if any corrupt practices were involved.
The lawmakers suspect that the money was poured into the stock market to save firms owned by President Chen Shui-bian's (
People First Party Chairman James Soong (
Soong said he would support the Executive Yuan's move if any government assets were shown to be illegally obtained by the party.
DPP Chairman Frank Hsieh (
Information released by the Control Yuan shows that many of the KMT's assets were obtained illegally, according to Hsieh.
ROLLER-COASTER RIDE: More than five earthquakes ranging from magnitude 4.4 to 5.5 on the Richter scale shook eastern Taiwan in rapid succession yesterday afternoon Back-to-back weather fronts are forecast to hit Taiwan this week, resulting in rain across the nation in the coming days, the Central Weather Administration said yesterday, as it also warned residents in mountainous regions to be wary of landslides and rockfalls. As the first front approached, sporadic rainfall began in central and northern parts of Taiwan yesterday, the agency said, adding that rain is forecast to intensify in those regions today, while brief showers would also affect other parts of the nation. A second weather system is forecast to arrive on Thursday, bringing additional rain to the whole nation until Sunday, it
CONDITIONAL: The PRC imposes secret requirements that the funding it provides cannot be spent in states with diplomatic relations with Taiwan, Emma Reilly said China has been bribing UN officials to obtain “special benefits” and to block funding from countries that have diplomatic ties with Taiwan, a former UN employee told the British House of Commons on Tuesday. At a House of Commons Foreign Affairs Committee hearing into “international relations within the multilateral system,” former Office of the UN High Commissioner for Human Rights (OHCHR) employee Emma Reilly said in a written statement that “Beijing paid bribes to the two successive Presidents of the [UN] General Assembly” during the two-year negotiation of the Sustainable Development Goals. Another way China exercises influence within the UN Secretariat is
LANDSLIDES POSSIBLE: The agency advised the public to avoid visiting mountainous regions due to more expected aftershocks and rainfall from a series of weather fronts A series of earthquakes over the past few days were likely aftershocks of the April 3 earthquake in Hualien County, with further aftershocks to be expected for up to a year, the Central Weather Administration (CWA) said yesterday. Based on the nation’s experience after the quake on Sept. 21, 1999, more aftershocks are possible over the next six months to a year, the agency said. A total of 103 earthquakes of magnitude 4 on the local magnitude scale or higher hit Hualien County from 5:08pm on Monday to 10:27am yesterday, with 27 of them exceeding magnitude 5. They included two, of magnitude
Taiwan’s first drag queen to compete on the internationally acclaimed RuPaul’s Drag Race, Nymphia Wind (妮妃雅), was on Friday crowned the “Next Drag Superstar.” Dressed in a sparkling banana dress, Nymphia Wind swept onto the stage for the final, and stole the show. “Taiwan this is for you,” she said right after show host RuPaul announced her as the winner. “To those who feel like they don’t belong, just remember to live fearlessly and to live their truth,” she said on stage. One of the frontrunners for the past 15 episodes, the 28-year-old breezed through to the final after weeks of showcasing her unique