Written and Published by Han Institute, October 8, 2015
Does Taiwan Democratic Progressive Party (DPP) Have the Right to Make Risky Trades with National Worker Pension Funds?
DPP lost $9 billion of workers¡¯ pensions without being held accountable.
When the DPP was in charge of the ROC government four big retirement funds, they lost 70% of the value, $9 billion, and refused to disclose the contents of the funds.
DPP Leaders Have a Joy Ride on the National Workers Pension
Taipei city assemblyman Lin Ruitu verified that during when Chen Shui-bian was the president in 2008, four government national funds lost 1567 Yi NT, the equivalent of $5 billion, this was only part of the total.
Former DPP Chair Su Zhenchang asked incumbent Kaoxiong Mayor Chen Ju to appropriate $13 billion to Mr Wu Nairen, who in turned gave it to his godson Mr He Zhiqiang to run Pacific securities, then lost $10 billion. Only $3 billion is left. He lost 70 percent of the workers pension. When the Nationalists made an inquiry in January 2008, requesting the DPP to disclose the details of the trading, Executive Yuan vice Chair Qiu Yiren blocked the inquiry In name of ¡°market stability and the rights of the laborers¡±.
Chronically the ROC government has given the military, the government employees, and teachers very low pay, but with the guarantee of a pension for security in old age. We don¡¯t believe the DPP should squander the money without disclosing how the money was lost. We were growing up with malnutrition because the pay was substandard.
I hope US foreign policymakers can lend a hand to assist the DPP to follow the law, and to not shortchange the workers¡¯ rights. They are entitled to their pensions.
On the Endorsement of Non-Democratic Practices by the DPP
The power abuse by DPP Needs to Be Examined, the US should not be blind to the illegal practices just because the DPP claims to be democratic.
Tsai swears to confiscate nationalist party assets
The DPP claims that the KMT party assets are illegal. This omits the historical fact that millions of Nationalists worked all their lives to help out during World War II, and many transported assets to Taiwan, and a large quantity of intellectual property was given to Taiwan. Intangible KMT assets are very valuable and have never factored into the contributions to build up Taiwan.
Sometimes the Nationalists set up health clinics for public use with Nationalist party money, so it is not fair to demand other KMT assets to be privatized.
The Nationalists founded an infrastructure to enable the veterans to work for a local plant, to help farmers with technology assistance for free, this company land, if sold below the market price, is not fair to the KMT party, as over the years the workers and investors all contributed to the value of the property.
When Ma Ying-jeou travels as a national leader, he uses the KMT party fund instead of the ROC country¡¯s revenue; this is also detrimental to the KMT party funds.
Conclusion: If ROC President Ma Ying-jeou lost $9 billion from the four big pensions during his eight-year administration, could he get away with it as did Chun Shui-bian? Taiwanese bias protects any wrongdoing by the DPP, which they consider as the most democratic in the world. We would like to ask both the DPP and the American supporters why do you instrument this double-standard against the KMT?
168 Weekly Newspaper, August 11-17, 2012
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