LETTER: VBS saga a step backwards
It has become commonplace for leaders to covet resources for development to feather their own nests
If the purpose of VBS Bank no longer exists, then transformation in the financial services sector has taken a huge step backwards. The regulator is adamant about winding up VBS, despite pleas to recapitalise the bank through private means. The poor always bear the brunt of the consequences of corruption. There’s no political will to seriously deal with official corruption, despite it eating the moral fabric of society. People of high social status prey on the state to gain wealth which they are not entitled to and to service their glitzy lifestyles. It has become commonplace for leaders and often dangerous politicians to covet resources dedicated to development to feather their own nests. Their consciences are dead. Our ancestors waged the struggle under harsh conditions for the benefit of all. Their sacrifices dovetail with the famous Sepedi proverb — “Mokgodi wa morithi ga se modudi wa wona” — literally translated as “we serve for others to live a better life tomorrow”. Politician...
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