In continuation of highlighting the stakeholders of Corruption in Pakistan as reported by Capitalism’s Achilles Heel: Dirty Money and How to Renew the Free-Market System His comments on Nawaz Sharif can be found here, while Benazir Bhutto, Zardari & PPP’s reign on corruption is reproduced below [Credit @Aleem_Ashraf]
Corruption and criminality run from the top down, with the political class constantly looting the national treasury and distorting economic policy for personal gain. Bank loans are granted largely on the basis of status and connections. The rich stash much of their money abroad in those willing western coffers, while exhibiting little inclination to repay their rupee borrowings. Pakistan’s recent history has been dominated by two families—the Bhuttos and the Sharifs—both merely tolerated by the military, the real power in the country. When it comes to economic destruction, there’s not a lot of difference among the three.
Benazir Bhutto on pages 77-82: Born in Karachi in 1953 and educated in private schools, Benazir Bhutto graduated from Radcliffe College at Harvard University in 1973. Going on to Oxford for a master’s degree, she displayed her budding political skills and was elected president of the Student Union in 1977. Meanwhile, her father had become prime minister of Pakistan in
1971, was ousted in a military coup in 1977, and was executed in 1979 on charges of conspiracy to commit murder. In and out of prison and house arrest, Benazir was not allowed to leave the country until 1984 but then returned to lead the democracy movement two years later. Her father’s usurper, General Muhammad Zia ul-Haq, was killed in a mysterious plane crash in 1988, which also took the life of the U.S. ambassador Arnold Raphel, and the head of the U.S. military aid mission to Pakistan, General H.M. Wasson. Benazir was elected prime minister that year, served until her ouster in 1990 on charges of corruption and nepotism, was reelected in 1993, and ousted again in 1996, amidst more charges of corruption. During her two terms in office and since, what has come out portrays Bhutto and her husband Asif Ali Zardari as world-class thieves.