The problems with the FDIC/Donna Tanoue and the 2 big Hawaii
banks will undoubtedly effect people throughout the country. I believe that
the Hawaii link to Mochtar Riady are attempting to gain access to the American
capital market through Riady's brother-in-law, Mumin Ala Gundawun. Riady was
too hot (BCCI, Chinagate), so they wisely chose to approach their plan via the
Hawaii connection.
Sec. Treasury, Robert Rubin played a major role in setting up
this new bank scandal by lobbying for repeal of the bank Holding Company Act.
The purpose for this action is to allow Bank Holding companies (Hawaii's
Pacific Century financial Corp. and BancWest) to expand their financial
services, thus allowing them to become full service securities brokerages.
This seems like an ideal front to legitimize their deals to the American
capital markets.
The 2 Hawaii banks have violated numerous securities rules leaving themselves
exposed to sanctions by the SEC and NASD. This would put a damper on their
schemes and bring attention to this situation. The Hawaii banks have been
churning the trust fund accounts of their customers by selling them units on
their family of mutual funds. The problem is that the same people that control
the daily newspapers here, also sit on the boards of the banks.
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