The Supervisor Has Missed the Train

THE police are always considered to be slower than criminals are. It seems to be the same as regards Bank Indonesia's supervision of banks. The most recent example was when Bank Indonesia (BI) froze the operations of Unibank on Monday last week. In fact, BI had been keeping its eye on the bank since 1998 and in November last year even placed Unibank under special supervision. The collapse of Unibank illustrates that there is something lacking in s...