There is all this talk about Bailout’s being debated in American and today i saw a weird piece of news that made a little confused!
This was on Malaysiakini
Former Federal Territory MIC chief VKK Teagarajan suggested that the government pumped in RM150 million into Maika to help the 66,000 investors who had put in about RM106 million of their hard-earned cash into the venture.
For the benefit of those who don’t know who Maika are :
Maika Holdings Berhad’s principle activity – is investment holding. Maika was originally established to represent the interests of the Malaysian Indian community and has since grown to configure more than 66,000 shareholders.
So now they want the government to bail out the guys who blew thousands of Indians life savings and them to get away scott free?? I feel for those who lost money. Imagine if you put your life savings into the people who claim to bail out them out of their misery!
Its crazy how nothing has been done to those responsible for the money that had been blown!
Its crazy that nobody is making sure that the money is given back to those who have lost their savings
Its crazy that these are the party who claim to be the hope of the Indian community!
I think serious action has got to be taken against them. If the government want to bail out Maika and give the money back to the investors, the investors should be paid interest for the duration their money has been in the hands of these not so good investors. THEN the government must take serious action against Maika and ensure every penny is paid back to them!
The money that is used to bail them out(if it happens) comes from?? Yes, you and i! The money of everyone of us pay in form of taxes!
I cant wait to hear the reaction from the government to this report. I hope we hear something soon!
(This whole Maika debacle makes me sick to the stomach! Image you in the situation of the 66,000 odd people!)
