The Debtors Who Won't Pay

The ease with which they gained a veritable flood of Bank Indonesia Liquidity Assistance funds (BLBI) has made debtors careless about returning the money they owe the State. The concept of a guarantee for account holders' funds—also referred to as a blanket guarantee, which is rather like Santa Claus sharing out gifts—finally ended up cleaning out the State's coffers. Bank owners adopted the stance of being "favorite sons", whos

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