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Taiwan Tati Cultural and Educational Foundation

KMT must stop hiding the truth on party assets

The direct line between the Chinese Nationalist Party’s (KMT) treasury and the national treasury during the authoritarian era gave the KMT access to unlimited resources. For a long time, it used these resources to support its party employees, giving out small favors.

During elections, the KMT spent money on mobilizing supporters and vote buying. However, after its defeat in the January presidential and legislative elections, it is now just a party without the backing of the state. With the legislature’s passing of the Act Governing the Handling of Ill-gotten Properties by Political Parties and Their Affiliate Organizations (政黨及其附隨組織不當取得財產處理條例), it will be difficult for the party to reverse its downward spiral.

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Mega bank knew of issues in 2013: DPP


From left, Democratic Progressive Party legislators Wang Ding-yu, Lo Chih-cheng and Su Chen-ching yesterday hold a news conference in Taipei to discuss Mega International Commercial Bank’s branch in the US being fined for ignoring money laundering regulations.
Photo: George Tsorng, Taipei Times

US authorities had warned Mega International Commercial Bank’s New York branch that it had violated US money laundering regulations as early as 2013, after the bank dramatically increased the size of loans to businesses affiliated with the Chinese Nationalist Party (KMT), Democratic Progressive Party (DPP) legislators said yesterday.

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Airing the KMT’s dirty laundry

The nation has transformed itself from an authoritarian state into a democracy, and Taiwanese are now hoping to throw off the one-party state past with the implementation of long overdue transitional justice reforms. However, judging by remarks by Chinese Nationalist Party (KMT) Chairwoman Hung Hsiu-chu (洪秀柱) and her predecessors, the KMT remains stuck in its “party-state” days.

Hung met on Friday with four of her predecessors to discuss the Act Governing the Handling of Ill-gotten Properties by Political Parties and Their Affiliate Organizations (政黨及其附隨組織不當取得財產處理條例).

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Forum praises Tsai on China stance

Academics at a forum held by a pro-independence organization yesterday lauded President Tsai Ing-wen’s (蔡英文) refusal to recognize the so-called “1992 consensus,” but took issue with the president’s seeming inability to break the shackles of the Republic of China’s (ROC) constitutional system.

The World United Formosans for Independence invited a dozen of academics to examine Tsai’s policies in the first three months of her presidency and share their thoughts on her government’s performance in terms of national status, transitional justice, cross-strait ties and other areas.

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Beijing’s strong dislike of Hillary

US Democratic presidential candidate Hillary Rodham Clinton, who is likely to move into the White House in January next year, has always been a headache for Beijing.

In September 1995, Clinton attended the UN’s Fourth World Conference on Women in Beijing as first lady of the US and chairwoman of the US delegation, delivering a speech sharply criticizing China for discriminating against and abusing women and violating women’s rights. Her speech was so embarrassing to the Chinese authorities that it was muffled.

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FSC commission to probe Mega Ban

Premier Lin Chuan (林全) yesterday instructed the Financial Supervisory Commission (FSC) to form an investigative committee from members of the central bank, and the ministries of justice and finance after the New York branch of Mega International Commercial Bank (兆豐銀行) was ordered to pay a massive fine for violating US money-laundering rules.

Lin said he hopes that the details of the case are clarified as soon as possible, and that any Mega International employees responsible for the situation are identified.

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Newsflash


Former president Lee Teng-hui, right, talks to reporters in Taipei yesterday while attending an event to mark the Presbyterian Church’s 150th anniversary in Taiwan.
Photo: Chen Chih-chu, Taipei Times

Former president Lee Teng-hui (李登輝) yesterday urged President Ma Ying-jeou (馬英九) to resign, calling him incapable, disconnected with the public and too conservative.

“Ma is incapable and shameless. He should step down as president,” Lee told reporters while attending the Presbyterian Church’s celebration of its 150th anniversary in Taiwan.