CORRUPTION CHILLS MY BONES
Jul. 14th, 2012 12:31 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
defrogHere in Hong Kong, we have something called the Independent Commission Against Corruption (ICAC). Its function, as you might imagine, is to serve as an independent agency to investigate and stop corruption of government officials.
It’s been pretty busy the last couple of days.
Friday it charged Raymond and Thomas Kwok, joint chairmen of Sun Hung Kai Properties, the biggest real estate company in Hong Kong, with bribery.
The day before that, it arrested development minister Mak Chai-kwong for allegedly abusing government housing allowances.
The first one is notable because real-estate development corporations are huge in HK – not just in terms of business but also economic power, as the NYT explains:
The second case is also notable mainly because the minister in question has only had his job for 12 days. He was appointed by the new chief, CY “Oh, those illegal structures” Leung, on July 1. And he’s already been forced to resign for corruption.
That’s got to be a new record of some kind.
So all up, CY Leung’s reign is not off to a promising start.
Granted, none of these people have been convicted of anything. So far. And a lot of the corruption shenanigans in question took place before Leung was appointed chief.
Still. Damn. We weren't expecting this kind of thing until at least sometime next year.
Take the money and run,
This is dF
It’s been pretty busy the last couple of days.
Friday it charged Raymond and Thomas Kwok, joint chairmen of Sun Hung Kai Properties, the biggest real estate company in Hong Kong, with bribery.
The day before that, it arrested development minister Mak Chai-kwong for allegedly abusing government housing allowances.
The first one is notable because real-estate development corporations are huge in HK – not just in terms of business but also economic power, as the NYT explains:
Property plays a huge role in the Hong Kong economy and investment psyche. Many of the tycoon families who control the city’s largest companies owe much of their wealth to the sector. And for citizens of more modest means, homeownership is a common aspiration — despite, or perhaps because, property prices in Hong Kong rank among the highest in the world.
The Kwoks, meanwhile, are among the city’s most prominent, influential and wealthy businessmen.
The Kwoks, meanwhile, are among the city’s most prominent, influential and wealthy businessmen.
The second case is also notable mainly because the minister in question has only had his job for 12 days. He was appointed by the new chief, CY “Oh, those illegal structures” Leung, on July 1. And he’s already been forced to resign for corruption.
That’s got to be a new record of some kind.
So all up, CY Leung’s reign is not off to a promising start.
Granted, none of these people have been convicted of anything. So far. And a lot of the corruption shenanigans in question took place before Leung was appointed chief.
Still. Damn. We weren't expecting this kind of thing until at least sometime next year.
Take the money and run,
This is dF
