Whole Network Most Recent TOP10 Accounting Compliance Ethics SOX

 

Suharto's legacy

Filed in archive Ethics by leon on January 27, 2008

suharto.jpg

Weep not for Indonesia's former president Suharto who died today at the age of 86. Suharto's iron-fisted rule bought economic growth but also ushered in nepotism and corruption. And Suharto's legacy of corruption and shady business dealings go back a long way.

In the 1950s, he was allegedly involved in sugar smugglinglinks which some said cost him command of an army division during a 1959 anticorruption drive. Suharto claims that he bartered sugar for rice to ease a local food shortage and did not benefit personally. Still, he was transferred to a less influential position at the army staff college.

It is said Suharto through his rule cultivated a network of wealthy allies, many in the ethnic Chinese business community. He did this through a system of rewards and punishments administered by the state.

Suharto's nepotism and corruption was well known. reached epic proportions, culminating in a national car project awarded to Suharto's youngest and most beloved son, Tommy. According to anti-corruption watchdog Transparency International, Suharto and his family may have amassed as much as $35 billion during his reign and the independent organization today still ranks Indonesia as one of Asia's most corrupt countries.


Advertisement


Permalink: Suharto's legacy
Tags: suharto  corruption  2007  corporate  legacy  suharto+legacy  corporate+governance  advertisement+book 

Trackback: http://www.creative-weblogging.com/cgi-bin/mt-tb.pl/111955



Related Entries:

Business against corruption - 02 June 2006

Global corruption scoreboard - 07 November 2006

Legacy to IP: Online Tutorial - 11 October 2007

Corruption on the rise - 10 December 2007

Advertisement


Advertisement


CW ToolbarInstall
RSSrss   | See all blog subscribe options
Googlegoogle   |   What is RSS?
Yahoo!yahoo
AddthisAddThis Feed Button
BloglinesBloglines
Newsletter

Use our search feature to look for other interesting posts

Just this blog Whole network
 
Advertisement
Book yours here.



  • Other blogs in the same channel in the Creative Weblogging Network

Advertisement -
Book yours here..






Advertisement - Book yours here..
 
Tagcloud: Accounting boards of directors Compliance corporate crime corporate governance corporate reputation Ethics events executive pay litigation markets regulators risk shareholder activism SOX Sponsored Blog strategy