Thursday, March 04, 2010

Indonesian Mob Wants Blood After Treasury Secretary Spends A Fortune Bailing Out Banks

Business Insider:

Tensions are high in Indonesia as it appeared that a months-long investigation into the $700 million bailout of Bank Century will end without prosecution of the country's finance minister and vice president.

Many legislators saw the ouster of Sri Mulyani Indrawati and Boediono as essential to reform that could lead to a sovereign debt upgrade, according to the FT.

But the real anger is on the streets of Jakarta. Thousands of students, labor members, and other mass organizations rioted outside the House of Representatives yesterday and today. These are the people that ended up paying for the bailout, and the same ones that are rioting in Greece and California.

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