A group of lawyers and civic groups yesterday said that if the “cronyism in the finance sector and judiciary” that began under the Chinese Nationalist Party (KMT) persists, young people — who are facing the concentration of capital, impoverishment and a low birth rate — risk becoming a “crumbled generation.”
Lawyer Fan Jen-yu (樊仁裕) said that the finance sector has hired people from the former administration to be their “door gods.”
For example, Hsueh Hsiang-chuan (薛香川) has been the vice chairman of CTBC Financial Holding (中信金控) since resigning as Executive Yuan secretary-general during former president Ma Ying-jeou’s (馬英九) first term in 2009, former Mega Financial Holding Co chairman Mckinney Tsai (蔡友才), who resigned in April, became one of Cathay Financial Holding Co’s board of directors (until he resigned on Aug. 23), Catherine Lee (李紀珠), the chairperson of state-run Taiwan Financial Holdings until the end of last month, was formerly the president of Shin Kong Financial Holding Co, Fan said.
He also called on Tsai’s administration to hold former Mega Financial Holding Co chairman Shiu Kuang-si (徐光曦) — who resigned on Thursday — accountable for breaches of US money laundering rules rather than “keeping him at large because he is central bank Governor Perng Fai-nan’s (彭淮南) sister-in-law’s husband.”
The composition of the Committee of Illegal Party Asset Settlement, Tsai’s grand justice picks and the members of the Executive Yuan’s monitoring taskforce overlooking the Mega Bank incident are all in one way or another related to a particular law firm and the Judicial Reform Foundation, Fan said.
Northern Taiwan Society Chairman Chang Yeh-sen (張葉森) said that there have been a string of financial malpractice cases but the government has not demonstrated “resolve” in dealing with them.
National Taiwan University professor of law Chen Chih-lung (陳志龍) said economic crimes and serious corruption are rarely prosecuted, making Taiwan a “haven for economic crimes.”
Wang Yi-kai (王奕凱), who was an active participant in the Sunflower movement protests, said the economy has fallen into the hands of “crony capitalists... to the extent that, according to The Economist, Taiwan is even worse than China in this respect.”
“Taiwan is also relying far too much on an ‘insubstantial economy’ that puts too much emphasis on land speculation and financial exchange and is a breeding ground for political nepotism,” he said, calling on the government to support startups by providing information on the needs of the global economy and promoting value-added production.
China appears to have built mockups of a port in northeastern Taiwan and a military vessel docked there, with the aim of using them as targets to test its ballistic missiles, a retired naval officer said yesterday. Lu Li-shih (呂禮詩), a former lieutenant commander in Taiwan’s navy, wrote on Facebook that satellite images appeared to show simulated targets in a desert in China’s Xinjiang region that resemble the Suao naval base in Yilan County and a Kidd-class destroyer that usually docks there. Lu said he compared the mockup port to US naval bases in Yokosuka and Sasebo, Japan, and in Subic Bay
Police are investigating the death of a Formosan black bear discovered on Tuesday buried near an industrial road in Nantou County, with initial evidence indicating that it was shot accidentally by a hunter. The bear had been caught in wildlife traps at least five times before, three times since 2020. Codenamed No. 711, the bear received extensive media coverage last year after it was discovered trapped twice in less than two months in the Taichung mountains. After its most recent ensnarement last month, the bear was released in the Dandashan (丹大山) area in Nantou County’s Sinyi Township (信義). However, officials became concerned after the
The majority of parents surveyed in northern Taiwan favor the suspension of all on-site classes at schools from the junior-high level and below amid a surge in domestic COVID-19 infections, parent groups said yesterday. About 84.4 percent of respondents in a survey of 2,912 parents in northern Taiwan, where the outbreak is the most serious, said they supported suspending classes, the Action Alliance on Basic Education, the Taiwan Parents Protect Women and Children Association, and the Taiwan Love Children Association said. The groups distributed questionnaires to parents in New Taipei City, Taipei, Keelung, Taoyuan and Hsinchu city and county from Saturday morning
DETERRENCE: US National Security Council Indo-Pacific Coordinator Kurt Campbell said cross-strait affairs are on the agenda at the US-ASEAN Special Leaders’ Summit The Ministry of Foreign Affairs (MOFA) yesterday thanked the Czech Senate for passing a resolution supporting Taiwan’s inclusion in the WHO and other international organizations for the second consecutive year. The resolution was passed on Wednesday with 51 votes in favor, one opposed and 11 abstentions. In addition to the WHO, it also called for Taiwan’s participation in the “meetings, mechanisms and activities” of the UN Framework Convention on Climate Change, the International Civil Aviation Organization and Interpol. In its opening, the resolution states that the Czech Republic “considers Taiwan as one of its key partners in the Indo-Pacific region,” while noting its