How Do We Know That an Honest Person Has Been Appointed to Lead the ASF?

MAKE
English Section / 19 decembrie 2023

March 20, 2023 - the AUR parliamentarians protest against the ASF management, which appeared at the hearings at the Insurance Supervisory Commission of the Romanian Senate, after the Euroins bankruptcy. (Photo source: Agerpres)

March 20, 2023 - the AUR parliamentarians protest against the ASF management, which appeared at the hearings at the Insurance Supervisory Commission of the Romanian Senate, after the Euroins bankruptcy. (Photo source: Agerpres)

Versiunea în limba română

MAKE

It could be a significant day: today, when the appointment of the Financial Supervisory Authority (ASF) leadership for the next term is scheduled in Parliament, the parliamentary majority could express satisfaction with the bribes received from the capital market and could validate the existing leadership.

Why do I say that this could be a significant day, in which incompetence and corruption at the level of financial market supervision might be perpetuated? Doesn't this happen every day? Corruption and incompetence - two species of vampires hard to separate - continually attack all domains of our social life.

We have policemen stealing from self-service stores, customs officers smuggling contraband cigarettes across the border in customs cars, a president who rents a house to a bank that is not his own, finance ministers hiring accountants for companies whose debts they erased and protected from the Financial Guard.

Everywhere.

So, why do I say that validating the current ASF leadership would make today remarkable?! There is, however, a reason. Vampires usually suck at night. It is said, "at night, like thieves." Here would be the day. In plain sight. Validating the members of the ASF leadership for a new term would be equivalent to an explicit statement - "Yes, we are satisfied with the bribes received, and we want more." You don't come across a collective self-denunciation in the clear every day.

However, there is a probability that a new set of people will be appointed to lead the ASF. Would this mean that the parliamentary majority has no corrupt politicians? No. It would only mean that they do not want to show themselves. Nicu Marcu is not necessary at the top of the ASF for the financial market malpractices to continue. The cooperative in the capital market is well-established, stands on its own, and only needs the market supervisor to keep their eyes closed.

Anyone can do that. Anyone can tolerate conflicts of interest, collusion, manipulation of net assets. Everything is rewarded royally - hundreds of thousands of euros annually. No expertise is needed. No strength or character is required (they would complicate matters). Collusion with justice is ensured by the Cooperative.

The newly appointed individuals would have no creative tasks, not even in the field of corruption. The system is intact, round, functional, and without risks. Therefore, Parliament has choices - those who are obedient, obedient, and do not act smart - indeed, Nicu Marcu is the ideal.

Do I have biases? Of course. I know the field, I know the "human material," so to speak, I know the methods, and I have met happy scoundrels. So, I have biases.

In the unlikely event that an honest person is appointed to lead the ASF, how could we tell that they are honest, despite my biases? Here's how:

- When you see that members of the Cooperative are brought to justice and receive sentences like Lakis and Balteanu, then know that the head of the ASF has done his duty.

- When the current ASF leadership members are brought to justice for manipulating stock exchange decisions, complicity in manipulating decisions in the AGM, maneuvers to remove the unwanted from the leadership of some SIFs and smoothing the takeover by others, complicity in manipulating net assets of some SIFs, false testimonies in court... when these happen, it is possible that an honest person has come to lead the ASF.

But even then, it wouldn't be certain.

The tens of millions of euros evaporated from the capital market are just small rascalities - systematic, but rascalities.

The real heists have taken place in the insurance market.

In just the last two years, under the "supervision" of the ASF, at least one billion euros have been stolen from the insurance market.

This is visible even from the Moon.

In the words of Tamango, may God rest his soul: "All the women knows that."

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