THE Superior Court says a motion filed recently by Clark & Calvo contains “highly charged and overly exaggerated accusations.” The court, of course, had to temper its use of language even when it has to describe something that is begging for far more colorful labels.
We are referring to the motion that actually blamed the governor for causing a “bank run” when he disclosed Bank of Saipan’s alarming financial standing. Those who drafted this motion, which included a statement from former Speaker Ben Fitial, are apparently implying that the revelation about the bank’s miserable condition caused it—which is like blaming the weather service’s typhoon warnings for the depletion of the island’s stock of batteries and candles.
What nerve! What gall!
Someone should tell Calvo & Clark that the CNMI government has $16 million deposited in Bank of Saipan. That’s taxpayers’ money. As governor, Juan Nekai Babauta has the duty to look after that money. He had to go public about the bank’s condition, and he should be commended for doing so. To be sure, if the special interest candidate won last November he probably would say nothing, allow those with inside information to get their money while the government quietly bails out the bank—with taxpayers’ money. But Babauta is the governor, and he is trying to protect the interest of the people and not of certain big businesses.
So who is to blame? If not the governor then perhaps the depositors for withdrawing THEIR money from a bank whose own top official is accused of defrauding it?
These lawyers should stop insulting the intelligence of the public. Instead they should answer the following questions:
• Who appointed Tom Aldan as CEO and chairman?
• Who were the other bank officials who allowed this alleged fraud to happen?
• Who ignored the findings of the FDIC five years ago and failed to disclose them to the rest of the bank officials and their clients?
• Who were the government officials who allowed taxpayers’ money to be deposited in non-FDIC banks?
• Who pushed for and signed laws beneficial to these non-FDIC banks?
CNMI taxpayers and Bank of Saipan’s small depositors are waiting for answers.
