IT'S quite unusual for Herwidayatmo, head of the Capital Market Supervisory Agency (Bapepam), to be reticent. Herwidayatmo, who happens to be the longest serving government official—he was appointed to his post on January 13, 2000—has consistently refused to comment on the investigation into the alleged manipulation of Lippo Bank shares transactions.

Herwid, as the Yogyakarta economist is known, is usually affable and generous wit