DISGRACEFUL WHEN POLITICIANS TEACH FUTURE GENERATIONS TO DEFAULT ON LOANS SAYS MALAYSIA ASEAN APEC LEAD CONSUMERIST PROF DR JACOB GEORGE!!

DISGRACEFUL WHEN POLITICIANS TEACH FUTURE GENERATIONS TO DEFAULT ON LOANS!

Let us get our facts right!

No one in their right mind is pressuring the unemployed and the defenseless to pay back loans immediately!

We are addressing a large group of individuals who are gainfully employed, having monies to go on holidays abroad but refusing to pay a loan taken which is ‘part and parcel’ of a revolving fund that is utilized to help and assist others like them, needy students, many from the B40 groupings, to give a leg up in tertiary education on the understanding of repayment on employment!

It is a contractual agreement!

The repayment scheme and quantum can always be discussed accordingly.

So the country’s politicians and opportunist have got it wrong again and being caught by Netizens shocked and embarrassed by their now embarrassing political posturing, post GE14!

After all universal and religious principles teach that a debtor must repay their loans when employed!

And the law in Malaysia is such that it is left to the loan providers and financial institutions to use whatever avenues effective to ascertain that loans are repaid!

That is a duty of care!

And avenues used are from baring one from renewing their passports, driving licenses, road tax and business licenses or international travel!

In the past legal proceedings ending with bankruptcy was an option!

Having said that only a shameless and one without any dignity, ethics or honor will drag Premier Dr Mahathir Mohamad to intervene in a matter that is clearly defined in contractual terms, where a debtor must repay their loan!

Instead of teaching our future generations about integrity, accountability and good governance are we because it is politically expedient, teaching them that it is alright to default?

This kind of political stand and premise is super vulgar and an abomination to all forms of good governance, accountability and ethical behavior!

This is a despicable behavior that has seen many financial and other institutions going under resulting in mergers, reverse takeovers and bail outs because of systemic corruption, interference by the executive and wayward and warlord politicians in the past!

Perhaps, some of those who claim to be reformers have forgotten what Benjamin Franklin stated:

“The second vice is lying; the first is running in debt.”

And woe to those who play the populist options and ruining our future generations as well fast tracking Malaysia to a nation where accountability, good governance, ethics, integrity and honor is extinct!