Thursday, March 18, 2004

Treat them like what Eliott Ness did to Al Capone

In a two-day series of op/ed in the Jakarta Post (here is the first one and here the second), Ross McLeod an Indonesianist at ANU talks about the collapse of IBRA. He concluded that Indonesia has lost $60 billion along the way. Citing Frecaut's paper in BIES, he suggests to get the money back from those criminal conglomerates through taxation mechanism. The way the U.S. IRS got Al Capone back then. Makes sense. For recent assessment on the general economy, read the special issue of BIES.

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