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Cronyism crippling the young: groups

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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.”

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Civic groups warn of impending financial crisis

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Union of Taiwanese Teachers director Neil Peng, second left, yesterday speaks at a news conference in Taipei, urging the government to reform the pension system.
Photo: Chu Pei-hsiung, Taipei Times

A number of civic groups yesterday said that President Tsai Ing-wen (蔡英文) should be wary of an impending financial crisis facing the nation if the pension system does not undergo a systematic reform.

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Ill-gotten asset panel to ‘settle’ accounts: Koo

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Committee of Illegal Party Asset Settlement Chairman Wellington Koo (顧立雄) yesterday said the organization would return the ill-gotten assets obtained by the Chinese Nationalist Party (KMT) during its authoritarian rule to their rightful owners.

During a plaque unveiling ceremony in Taipei, Premier Lin Chuan (林全) presented Koo with a seal and an appointment order, officially launching the committee.

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Lawmaker pans FSC probe on Mega

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The government should not have let the Financial Supervisory Commission (FSC) lead an administrative investigation into Mega International Commercial Bank’s violation of US rules against money laundering, New Power Party Executive Chairman Huang Kuo-chang (黃國昌) said.

People have been mostly concerned with the suspected money-laundering activities, which have been put under judicial investigation, Huang said in a radio interview yesterday.

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President’s ‘honeymoon’ nearing end: foundation

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President Tsai Ing-wen’s (蔡英文) “honeymoon” period is ending, the Taiwan Public Opinion Foundation said yesterday, citing its latest poll, which found a drop of nearly 20 percentage points in Tsai’s approval rating since her inauguration on May 20.

The telephone-based survey showed that 52.3 percent of respondents expressed satisfaction with Tsai’s handling of national matters, a 17.6 percentage point decline from three months ago.

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Tsai touts fresh direction for military

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President Tsai Ing-wen watches Han Kuang military exercises at the Renshou military base in Pingtung County’s Hengchun Township yesterday.
Photo: CNA

President Tsai Ing-wei (蔡英文), in her role as commander-in-chief, presided over the Han Kuang live-fire drills for the first time after assuming office in May.

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Mega bank knew of issues in 2013: DPP

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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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Newsflash

Beijing is fighting to have an artist’s mural promoting independence for Taiwan and Tibet removed from a brick wall in the small town of Corvallis, Oregon.

Two officials from the Chinese Consulate General in San Francisco have written to the mayor of Corvallis about the mural and last week visited the town to lodge a formal complaint.

“As you are aware, the First Amendment of the US Constitution guarantees freedom of speech in this country and this includes freedom of artistic expression,” Corvallis Mayor Julie Manning has told them.