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.
FAST TRACK? Chinese spouses must renounce their Chinese citizenship and pledge allegiance to Taiwan to gain citizenship, some demonstrators said Opponents and supporters of a bill that would allow Chinese spouses to obtain Taiwanese citizenship in four years instead of six staged protests near the Legislative Yuan in Taipei yesterday morning. Those who oppose the bill proposed by the Chinese Nationalist Party (KMT) demanded that Chinese spouses be granted citizenship only after renouncing their Chinese citizenship, passing a citizenship test and pledging allegiance to Taiwan. The demonstrators, who were protesting at a side entrance to the Legislative Yuan on Jinan Road, were mostly members of the Taiwan Association of University Professors and other organizations advocating Taiwanese independence. Supporters of the bill, led
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Taiwan has “absolute air superiority” over China in its own airspace, Deputy Minister of National Defense Po Horng-huei (柏鴻輝) told a meeting of the legislature’s Foreign Affairs and National Defense Committee on Monday, amid concern over whether Taipei could defend itself against a military incursion by Beijing. Po made the remarks in response to a question from Democratic Progressive Party Legislator Chiu Chih-wei (邱志偉) on whether Taiwan would have partial or complete air superiority if Chinese People’s Liberation Army (PLA) warplanes were to enter Taiwan’s airspace. Po, a retired pilot, said that the Taiwanese military has “absolute air superiority” over PLA
A shipment of basil pesto imported by Costco Wholesale Taiwan from the US in the middle of last month was intercepted at the border after testing positive for excessive pesticide residue, the Food and Drug Administration (FDA) said yesterday. Samples taken from a shipment of the Kirkland Signature brand of basil pesto imported by Costco contained 0.1 milligrams per kilogram of ethylene oxide, exceeding the non-detectable limit. Ethylene oxide is a carcinogenic substance that can be used as a pesticide. The 674kg shipment of basil pesto would either be destroyed or returned to its country of origin, as is the procedure for all