HALKTV — Acikca
20260920 010000 UTC
3997 transcript segments
Google Cloud Speech-to-Text API (Chirp) + Gemini 2.5 Flash Non-Thinking
Data courtesy of The GDELT Project (https://www.gdeltproject.org/), from the Internet Archive TV News Archive.
Machine transcription. Treat it as a searchable index of what was broadcast, not a verbatim quotation record.

[00:00:03] That is, a threshold was crossed where the consecutive increases in diesel prices,
[00:00:06] the consecutive increases, reached three-digit
[00:00:10] figures. So at
[00:00:13] petrol stations, the signboards
[00:00:16] were set for two digits, but new
[00:00:20] signboards had to be brought to the fuel
[00:00:23] stations. Thankfully, there was news of a discount, about 4
[00:00:27] liras, which brought
[00:00:30] the price per liter of diesel back to two-digit
[00:00:33] figures. It's still very high, very close to three-digit
[00:00:36] figures. So, it's possible to say
[00:00:40] that at least for a while, diesel prices didn't see an increase,
[00:00:44] and in many cities, it went below
[00:00:46] 100 liras.
[00:00:50] Diesel is 96 liras, petrol is 80
[00:00:54] liras. I swear, anyone you tell this to will
[00:00:57] laugh. I am laughing. Look at this traffic,
[00:01:00] folks. The amount of money wasted in this traffic
[00:01:04] is immense. The signs at fuel stations
[00:01:07] changed again. This time, there was a 4-lira discount on the liter
[00:01:11] of diesel. We are doing business now, food
[00:01:14] business. Now, lettuce, lemon,
[00:01:17] parsley, all of these will be affected. When we reflect it on the price
[00:01:21] list, we become cannibals. No, shopkeepers do this, they do that, and when they close down,
[00:01:25] why did you close? And when they increase prices, why did you do it? We don't know how it will be.
[00:01:28] reached
[00:01:32] also shared on this matter, and we have
[00:01:37] that it didn't fit on the signs. The price of 1 liter of diesel
[00:01:41] in Turkish Lira is not under 150 liras. Despite
[00:01:44] these recent extreme increases. And we are around 100 liras.
[00:01:48] Everything is cheap for Mehmet Simsek. We are expensive. Some fuel
[00:01:52] stations had paper signs, some fixed their digital
[00:01:55] displays at 99 liras and 99 kurus,
[00:01:58] and some found a solution by removing the kurus digit. A man
[00:02:02] who is so much of an economist comes, there the minimum wage is at least 2000-3000
[00:02:06] dollars. We compare it like this. On Saturday, the price
[00:02:10] of Brent crude fell by 5 dollars to 103 dollars.
[00:02:13] This development was reflected as a discount
[00:02:15] in fuel
[00:02:17] prices in Turkey.
[00:02:22] A 4-lira discount was applied to the liter price of diesel.
[00:02:25] Its liter price fell below 100 liras. The liter
[00:02:28] price of diesel in Istanbul is 90. 6 liras 30 kurus, in Ankara
[00:02:32] 97 liras 40 kurus, and in Izmir 97 liras 70
[00:02:35] kurus. In provinces like Agri and Hakkari, the price is still
[00:02:39] around 100 liras. You see how the traffic is?
[00:02:43] We are idling, national wealth. What a
[00:02:45] shame.
[00:02:50] We called our tag "tearful" today. Ms. Yildiz,
[00:02:53] Yildiz Ayse, prices are going up every day, but there's no raise for minimum wage
[00:02:56] or pension, with the tag "tearful." Ayse Bakir wrote that the retired,
[00:03:00] students, minimum wage earners, everyone is tearful. Why?
[00:03:03] Because people were starved, disciplined by hunger,
[00:03:07] she says. Yasar Cetin says that retirees and minimum wage earners
[00:03:11] who are forced to live with wages below the poverty line
[00:03:14] are tearful. Yasar Arslanpay says that the people's
[00:03:17] will shall certainly be done. To be tearful means surrender.
[00:03:21] However, this country belongs not to those who surrender to fear,
[00:03:25] but to those who protect it. Orhan Karakaya,
[00:03:28] Mr. Orhan, is a very devoted viewer. "Is there any opposition in the country
[00:03:32] that is not tearful? We are sick and tired," he expressed his
[00:03:35] complaints. Now, we will go in search of justice,
[00:03:39] in search of rights. Does anyone forget Narin? Can anyone forget?
[00:03:42] I don't think there is a citizen who can still say with a clear
[00:03:46] conscience that they are sure how Narin died.
[00:03:48] Narin's small body had a dark
[00:03:52] side. The day her body was found in a sack
[00:03:55] in a streambed, this country was spiritually
[00:03:58] devastated. The most hurt person is that
[00:04:02] father, who started a march for justice to reach the
[00:04:06] president, from Diyarbakır
[00:04:08] to Ankara.
[00:04:13] And the only reason I chose this path is for the
[00:04:17] truth of my daughter, for my daughter's rights,
[00:04:20] my daughter's rights are trampled. Narin Guran's father is seeking justice.
[00:04:24] Arif Guran decided to walk to Ankara. The march started after a press
[00:04:27] statement at Narin Guran's grave.
[00:04:30] "There is only one person in this country who will
[00:04:33] not leave my daughter's rights trampled, and that
[00:04:36] is Mr. President." The march will end days later
[00:04:40] at the presidential palace
[00:04:41] in Ankara.
[00:04:45] The family's lawyer, Onur Akdağ, announced that Arif Guran would
[00:04:48] walk alone. Akdağ drew attention to irregularities
[00:04:51] in the investigation. As a result of the incomplete
[00:04:54] and flawed investigation, in the process reached,
[00:04:58] during the investigation stage... two military base cameras
[00:05:01] were erased. The most critical voice recording on Salim Guran's
[00:05:05] phone was erased. In Diyarbakır, in Tavşantepe
[00:05:08] Neighborhood, 8-year-old Narin, who disappeared
[00:05:11] on August 21, 2024. Guran's lifeless body
[00:05:15] was found days later in a sack Guran, mother Yüksel Guran, and brother
[00:05:19] Enes Guran were sentenced to aggravated life imprisonment.
[00:05:22] Neighbors Nevzat Bahtiyar, who hid Narin's lifeless body in the streambed,
[00:05:26] were sentenced to 17 years in prison.
[00:05:28] çarptırıldı.
[00:05:32] The Guran family's request for the murder to be investigated
[00:05:36] as an unsolved case was rejected on the grounds
[00:05:38] that the case was solved.
[00:05:45] In divorce cases, violence against divorced women,
[00:05:48] if they can survive injured, it's a country where we
[00:05:52] say "thank God." How many
[00:05:55] women have been killed while trying to divorce or after divorcing by their
[00:05:58] former abusive husbands? Almost
[00:06:01] every day. This time, we are talking about a divorce crisis
[00:06:05] in which entire families were involved. Riot police and special operations
[00:06:09] forces intervened. 12 people, including police officers,
[00:06:12] were injured due to the fight.
[00:06:16] Firing into the air from the third floor
[00:06:18] of the building.
[00:06:22] In Erzurum, a divorce dispute turned into an armed conflict. One
[00:06:25] police officer and 12 people were injured, 3 people were
[00:06:28] detained.
[00:06:33] The incident occurred in Kazim Karabekir Neighborhood, Golbasi District.
[00:06:37] Upon receiving a report of an armed conflict at the 112 Emergency Call
[00:06:40] Center, a large number of police and medical teams were dispatched
[00:06:43] to the area.
[00:06:47] The teams arriving at the scene saw three people firing shotguns
[00:06:51] and pistols from the balconies of their houses. The first
[00:06:54] teams had difficulty neutralizing the suspects. After the shots
[00:06:58] were fired, a police officer was injured in the head. Special operations
[00:07:01] teams were dispatched to the scene
[00:07:03] with armored vehicles.
[00:07:07] The police quickly apprehended and detained three people who were firing weapons.
[00:07:11] 12 injured people, including one police officer, who were hit
[00:07:15] by bullets and pellets from the suspects' weapons,
[00:07:17] were taken to the hospital.
[00:07:24] It was learned that the police officer injured in the head and
[00:07:28] four other people were in serious condition and were admitted to the intensive care unit.
[00:07:31] The conflict allegedly stemmed from YET stabbing his wife ZT,
[00:07:34] who was in the process of divorcing him, on September 17.
[00:07:38] It was stated that the warring parties were relatives of the couple
[00:07:42] in the process of divorce. The interrogation of the three people detained
[00:07:44] continues at the Public Order Branch Directorate.
[00:07:51] 11-month-old Bushra went missing in Divriği district
[00:07:54] of Sivas. The baby has not even completed her first year.
[00:07:58] Her parents were arrested due to their different
[00:08:01] and conflicting statements. But the issue is not
[00:08:05] her parents. The issue is where is baby Bushra? There's no
[00:08:09] trace, no sound, no news.
[00:08:12] There is no sign of where she could be found,
[00:08:16] as if she had never
[00:08:18] existed.
[00:08:21] Search efforts for the missing 11-month-old baby Bushra continue.
[00:08:24] The results of the forensic medical examination of clothes
[00:08:28] and diapers believed to belong to Bushra, found during the search,
[00:08:32] are awaited. Meanwhile, Mehmet Kavcılık, who was detained
[00:08:35] based on the testimony of his siblings, was released under judicial
[00:08:39] control after his interrogation.
[00:08:42] Baby Bushra disappeared on September 10. Elif Balıkçı,
[00:08:46] the daughter-in-law of the family who temporarily went to the village
[00:08:50] from Diyarbakır to raise livestock, had reported that she could not find
[00:08:54] her baby in the tent. However, the mother's conflicting statements
[00:08:56] shifted the investigation in another direction. In her
[00:09:00] initial statement, the mother claimed that the father sold the baby
[00:09:04] for money, but later changed her statement to the prosecutor,
[00:09:07] saying that the father killed the baby and left her in
[00:09:10] a field. The father denied the accusations. The mother was
[00:09:14] taken to the field by the prosecutor and gendarmerie team to show the location,
[00:09:17] but no trace of the baby was
[00:09:19] found in that area. On the first day of the search operations,
[00:09:23] a t-shirt, romper, and a baby diaper believed to belong
[00:09:26] to Bushra were found about 3 kilometers away from the tent. Forensic
[00:09:29] results are awaited.
[00:09:31] 6 people, including Baby Bushra's mother, father, uncle, aunt,
[00:09:35] and some other relatives, were arrested. The family's other four
[00:09:38] children, aged between 3 and 9, were taken into state protection.
[00:09:43] "The children's father had debts. That night, a person named Mehmet
[00:09:47] with a blue sweater came to the tent and took Bushra wrapped in a blanket
[00:09:50] by car to take her to Diyarbakır." Upon this statement and identification
[00:09:54] via photo, the investigation gained a new dimension.
[00:09:57] Mehmet Kah, who was detained in Diyarbakır, denied the accusations.
[00:10:01] No element of crime was found in the HTS records
[00:10:04] regarding the suspect. Mehmet Kah was released under judicial
[00:10:07] control by the court after his interrogation by the prosecutor's
[00:10:11] office. The investigation regarding
[00:10:16] If we knew that she was breathing
[00:10:19] somewhere, we would be a little relieved. Why
[00:10:23] are there such parents when coming into the world? Of course,
[00:10:26] you can't choose, but some people really shouldn't be parents. They
[00:10:30] shouldn't be. Why are they? While people are burning, suffering, dying
[00:10:34] to be parents, these types become parents, and then
[00:10:37] we die of heartache as a country. What happened to the child?
[00:10:41] What happened to her, you wonder. For example, there are also
[00:10:44] these hooligans, traffic hooligans, as we call them, folks.
[00:10:47] They don't give way to ambulances and fire trucks,
[00:10:51] considering it a skill, insisting stubbornly.
[00:10:55] There are types who don't give way to an ambulance
[00:10:59] with a sick person inside, because actually, the sick person is
[00:11:02] not inside the ambulance, but the driver of this
[00:11:04] van, definitely.
[00:11:10] The moments when he didn't give way to the ambulance were recorded,
[00:11:14] he was caught, fined 46,000 liras, his
[00:11:18] license was confiscated for a month, and his vehicle was banned
[00:11:20] from traffic for a month.
[00:11:26] In Istanbul, a patient from Başakşehir Çam and Sakura City Hospital
[00:11:29] was transferred to Mimarsinan State Hospital in Büyükçekmece.
[00:11:33] The ambulance on duty set off. The ambulance, reaching Beylikdüzü,
[00:11:36] was in the left lane. However, there was a
[00:11:39] van in front of it. Is it a joke? He's
[00:11:42] braking.
[00:11:50] The van driver didn't give way to the ambulance for a long time.
[00:11:53] Those moments were captured on camera.
[00:11:58] The footage went viral on social media, drawing strong
[00:12:01] reactions. The police took action, and teams caught
[00:12:04] the van driver. The driver was fined 46,000 liras for
[00:12:08] not yielding to a vehicle with right of way. His
[00:12:11] license was suspended for 30 days. His vehicle was also banned
[00:12:15] from traffic for the same period. Judicial proceedings
[00:12:18] were also initiated
[00:12:19] against the driver for endangering
[00:12:27] "In Istanbul, a building that was part of urban
[00:12:31] transformation collapsed before demolition began.
[00:12:34] Luckily, thank God, there were no deaths or injuries.
[00:12:48] In Küçükçekmece, İnönü neighborhood, at the Şirin site, the demolition
[00:12:52] of a six-story building, evacuated as part of urban transformation,
[00:12:56] began. However, no precautions were taken at the scene. A part
[00:12:59] of the building being demolished collapsed. Three people
[00:13:02] passing by were injured during the collapse. Look,
[00:13:06] two of them are running away with a girl. Look,
[00:13:09] they are moving to the side. Upon the report, AFAD, police,
[00:13:13] fire, and medical teams were dispatched to the area. The injured were
[00:13:16] taken to the hospital after the first intervention
[00:13:19] by medical teams.
[00:13:22] While police teams took security measures in the area,
[00:13:25] fire teams conducted a search with dogs after receiving a report
[00:13:29] that two people might be
[00:13:30] trapped under the rubble.
[00:13:34] As a result of the search operations, it was determined that no one
[00:13:38] was trapped under the rubble. The moments of the building's collapse were
[00:13:41] captured by a workplace security camera. The footage showed two people
[00:13:45] narrowly escaping at the last minute. Look, they're
[00:13:48] going to the side. This world. Okay, they're taking
[00:13:52] it. An investigation was launched into the demolition that damaged
[00:13:58] a workplace. There was a persistent insistence
[00:14:01] for months by the President of the United States, Donald Trump,
[00:14:04] regarding Greenland. His insistence
[00:14:07] bore fruit, and an agreement was reached with Denmark
[00:14:11] regarding the future of the island.
[00:14:15] The President of the United States, Donald Trump, announced
[00:14:18] the news to the world with a "breaking news"
[00:14:22] label. America had reached a permanent agreement with Denmark.
[00:14:33] In his social media post, Trump stated
[00:14:36] that the agreement was indefinite and designed to address
[00:14:40] all of America's concerns. Trump also
[00:14:43] said that the agreement would not cost
[00:14:46] his country anything.
[00:14:51] The United States already has a military base on the island.
[00:14:55] He signaled that this military presence would increase.
[00:14:58] He stated that they would immediately begin establishing a large
[00:15:02] military presence in suitable areas of Greenland.
[00:15:05] From now on, no American enemy can have a military
[00:15:08] presence in Greenland without our approval, he
[00:15:12] wrote.
[00:15:15] Greenland is a vast But here we need to discuss
[00:15:19] affiliated with Denmark and with autonomous rule.
[00:15:22] In addition to its geostrategic importance, it has rich underground
[00:15:37] was bringing. On this path, Trump sometimes offered
[00:15:41] to buy the island, and sometimes used a language of
[00:15:44] pressure and threats. He even went as far as to say
[00:15:46] that Greenland should be taken over and become part of America,
[00:15:50] causing a crisis with his European
[00:15:54] allies.
[00:15:55] olmuştu.
[00:15:59] Danish Prime Minister Mette Frederiksen and
[00:16:02] the President of the Greenland Autonomous Government, Jence Frederik
[00:16:05] Nielsen, confirmed the agreement in a joint statement.
[00:16:09] It was stated that the signatures would be affixed next week
[00:16:12] at the United Nations General Assembly. It was particularly emphasized
[00:16:15] that the agreement did not mean the annexation of Greenland.
[00:16:19] It was underlined that Denmark's territorial integrity
[00:16:23] and the Greenlandic people's right to self-government
[00:16:25] were protected.
[00:16:31] "I came back, I returned," says Shakira. After
[00:16:34] exactly 8 years, she returned
[00:16:37] to Spain. She wasn't going to Spain for certain
[00:16:41] reasons, as those who know, know. Shakira
[00:16:44] will give a series of concerts until mid-October. Of course,
[00:16:47] her fans are incredibly
[00:16:49] excited.
[00:16:55] Shakira is back in Spain after 8 years.
[00:16:58] The Colombian singer, who was enthusiastically
[00:17:01] greeted by her fans, will give a series of
[00:17:05] concerts until October 11.
[00:17:07] After her 11-year relationship with her team's former Barcelona
[00:17:11] star Gerard Pique ended in 2022,
[00:17:15] Shakira moved from Spain
[00:17:17] to the United States the following year
[00:17:21] with her two sons. She then
[00:17:24] turned her post-breakup experiences into an album
[00:17:28] and then a world tour. Now she is back in Spain
[00:17:31] for the final
[00:17:32] leg of that tour.
[00:17:41] Shakira performed for 50,000 fans
[00:17:44] at the first of 12 concerts in Madrid.
[00:17:47] A temporary stadium was built in the south of the capital
[00:17:50] for the concerts, and it was named Shakira
[00:17:54] Stadium.
[00:18:02] In the 2-hour show, there were 25 songs,
[00:18:05] many costumes, fire, and water.
[00:18:20] The concert ended with confetti and
[00:18:22] fireworks. More than 600,000
[00:18:26] people are expected to attend the concerts
[00:18:29] in the Madrid series.
[00:18:38] Traditional carpet making has now gained worldwide
[00:18:42] recognition. The carpet fields in Antalya Döşemealtı
[00:18:45] have a huge
[00:18:46] impact on this.
[00:18:51] Traditional carpet making, one of the most important
[00:18:54] legacies of nomadic culture, continues to be preserved.
[00:18:57] Carpets spread in the fields in Antalya have gained worldwide
[00:19:01] fame. The fields have also become a natural studio.
[00:19:05] They have now become one of the preferred locations
[00:19:15] for music video and photo shoots. Here is Antalya Döşemealtı.
[00:19:18] The tradition that has lasted for centuries continues to live on.
[00:19:22] Carpets woven with wool threads on hand looms
[00:19:25] are spread in the fields to revitalize their colors
[00:19:29] and for maintenance. Not
[00:19:31] only newly woven ones, but also
[00:19:35] antique carpets 100 years old. The carpets spread in July
[00:19:38] offer a visual feast until the end of October. The last guest
[00:19:42] of this feast was Isabel Rusine, the winner of the
[00:19:45] International Miss Aura Beauty Pageant. She both wove carpets
[00:19:48] with the masters and took
[00:19:56] photos. The young model stated that she was fascinated
[00:19:59] by this culture. She said that she had never seen such
[00:20:02] carpets before. Turkish folk music artist Sümer Ezgü
[00:20:06] and singer Mabel Matiz also shot the music videos for their songs
[00:20:09] in the carpet fields of Döşemealtı.
[00:24:12] Good evening, I am Gokmen Karadag, welcome to Acikca, dear
[00:24:15] viewers. There is turmoil, there is chaos, and it is clear
[00:24:18] what is causing it. The fund scandal, a massive scandal,
[00:24:22] a very big scandal, hundreds of thousands of people are victims,
[00:24:25] and a very large amount of money is involved. So, what
[00:24:29] is behind this scandal?
[00:24:32] Who are the responsible parties? Some people are being taken into custody,
[00:24:36] and the investigation is ongoing. And within the scope
[00:24:39] of this investigation, there were five new detentions today.
[00:24:42] Among those detained are two very prominent
[00:24:46] economics professors well-known in Turkey, Kerem Alkin and Emre Alkin.
[00:24:58] We are with Ersin Eroglu, a columnist for Sabah
[00:25:01] newspaper and a journalist. We will direct our questions to him.
[00:25:05] Welcome, Ersin, to our first segment. Our guest for the first segment
[00:25:09] is the General Secretary of the New Party, political scientist Associate Professor
[00:25:12] Yunus Emre. Welcome, Yunus Bey. And of course, Fikret Abi will
[00:25:16] direct his questions in the broadcast. Hello.
[00:25:22] "I also welcome Yunus Emre Bey.
[00:25:25] Now, look, five new detentions, the investigation
[00:25:29] continues. Who else will be arrested, what will happen, what will be
[00:25:32] asked of those detained? Also, there is a question
[00:25:36] asked to one of the detained individuals, the owner of Destek
[00:25:39] Yatirim Bank, Altunc Kumova,
[00:25:42] and he gave a very striking answer. It's in visual
[00:25:46] number 14, folks. Let's bring it up, because
[00:25:50] it constitutes important data regarding how and why
[00:25:53] we reached this point. In visual number 14,
[00:25:57] the New Party also pursued this matter. The New Party
[00:26:00] put forward its questions and expressed its opinions
[00:26:04] regarding the fund scandal. We will start by discussing these with Yunus Emre.
[00:26:07] Look, this gentleman is Altunc Kumova, the owner
[00:26:11] of Destek Yatirim Bank. It is stated
[00:26:14] that he was asked: "Isn't there something abnormal about your company's
[00:26:17] market value, which was approximately 15 billion TL at 46 TL,
[00:26:20] reaching
[00:26:22] 1 trillion 300 million TL?" I hope I read that correctly.
[00:26:26] It's a number with many zeros. How does this happen? Isn't
[00:26:30] there something abnormal about this? he asks. The gentleman
[00:26:32] says, "Yes, the figure you mentioned
[00:26:36] is an abnormal figure, but as the owner of the company,
[00:26:39] I didn't know what to do in this situation. As I stated at the beginning,
[00:26:43] since I wasn't interested in share value and sales,
[00:26:47] and we were completely focused on my company's commercial activities,
[00:26:51] I didn't conduct any investigation regarding this abnormal situation.
[00:26:55] However, I was always of the opinion that
[00:26:58] since it is regulated by the Capital
[00:27:01] Markets Board (SPK), if there were an abnormal
[00:27:04] situation, we would definitely be informed." Look,
[00:27:07] the owner of Destek Yatirim Bank, Altunc Kumova,
[00:27:11] in response to this question,
[00:27:14] says, "Since it's a situation supervised by the SPK,
[00:27:17] I thought that if something abnormal happened, we would
[00:27:21] be informed." Now, is this a confession or not? I will ask
[00:27:24] Yunus Bey, but let's also bring up the other visual
[00:27:28] that shows the New Party pursuing the matter, folks. Let me
[00:27:31] tell you its number.
[00:27:34] Where is it? Visual number 1. The New Party is pursuing
[00:27:38] the fund scandal. The New Party has an Economic Coordination
[00:27:41] Council, and it raised these questions: Liquidating
[00:27:45] 131 funds is not enough. Those who allowed this system
[00:27:48] to grow must also be held accountable. After it was said that there
[00:27:52] was manipulation, why was it waited for 10 months?
[00:27:54] Who profited from privileged information? Look, who profited
[00:27:58] from privileged information, and why the inspection
[00:28:02] chain did not work must be explained.
[00:28:04] Small investors' savings must be protected, private
[00:28:08] losses should not be burdened on the public, liquidation
[00:28:10] should not replace accountability, liquidation
[00:28:13] should not replace accountability. The New Party, I believe,
[00:28:17] published a 4-page report, a kind of manifesto.
[00:28:21] In it, it expresses its demands
[00:28:24] as follows: The SPK must explain the chronology
[00:28:28] of the process that led to the liquidation of 131
[00:28:31] funds and the reasons for the delay to the public. The scope
[00:28:34] of the criminal complaints filed regarding suspicious
[00:28:37] transactions must be explained. Possible negligence and
[00:28:40] errors within the SPK must be investigated independently.
[00:28:44] Fund, TEFAS, IPO, and other permits given
[00:28:47] during previous SPK administrations must be retrospectively reviewed.
[00:28:51] Bank establishment permits given to relevant financial
[00:28:54] institutions and the responsibility of the decision-making
[00:28:58] bodies of that period must be investigated. The asset and account freezes
[00:29:01] imposed by MASAK must be announced. Measures to protect
[00:29:04] should be taken, individuals with concrete suspicions of fraud should not
[00:29:07] be allowed to remain in the management of financial institutions, possible
[00:29:11] participation of real estate in the purchase of my home
[00:29:14] and a home, valuation, price, liabilities,
[00:29:18] and risks should be disclosed transparently, and past losses
[00:29:22] should not be borne by the public.
[00:29:24] Yes, now I will ask this, please.
[00:29:28] In this scandal,
[00:29:31] where should we focus the most? Of course, it has many dimensions,
[00:29:34] many actors, but where should we focus the most so that
[00:29:38] such a thing doesn't happen again, and does this issue
[00:29:42] have a political dimension? Now, sir, of course it does, and
[00:29:45] the place we will focus on is the
[00:29:49] system that enabled
[00:29:51] this big plunder. A system is being established, look, we need to see this,
[00:29:54] a system is being established, and within
[00:29:57] the framework of that established system,
[00:30:00] as you showed in the previous
[00:30:03] view, incredible
[00:30:07] profits are being shown to the public, and
[00:30:10] then that established system is actually being liquidated at
[00:30:14] the current stage. So, what is happening today, I want our viewers to
[00:30:18] know and see this, what is happening today
[00:30:22] is the liquidation of this established plunder system due to the
[00:30:25] completion of the plunder. What is happening today
[00:30:28] is not the liquidation of these institutions. What is happening
[00:30:32] today is that the plunder
[00:30:35] is complete, and the plunder system is being liquidated. So,
[00:30:39] where should we focus the most while this plunder system is being
[00:30:43] liquidated? Who will bear the cost
[00:30:46] of this plunder that this system has caused?
[00:30:50] Now, this is one of the most important issues we need to focus
[00:30:53] on, discuss, and talk about. Now it is clear
[00:30:57] that the political power wants to remove
[00:31:00] itself from this incident.
[00:31:03] By targeting a few fund managers and a few managers
[00:31:07] of these companies, arresting them, and imprisoning
[00:31:10] them, they want to prevent this plunder system
[00:31:13] from being seen. Again, friends, I ask you, I want to draw your attention
[00:31:17] to an issue in the text you gave us in the announcement
[00:31:20] of our New Party. Look, in November
[00:31:24] 2015, Mehmet Şimşek and the CMB
[00:31:27] made a statement. They say, "We are aware of the irregularities
[00:31:30] in these funds, we will pursue them, we will fix them." Now
[00:31:34] I want to ask, 10 months pass, 10 months
[00:31:38] pass, and why is nothing done during these 10 months?
[00:31:41] Why does this plunder continue during these 10 months?
[00:31:45] And what is behind nothing being done
[00:31:49] during these 10 months? Behind nothing being done,
[00:31:52] believe me, there is political protection. Due to
[00:31:56] that political protection, progress cannot be made,
[00:31:59] but when it reaches a certain point, the cat is out of
[00:32:02] the bag, all this dirt is spilled out. As a result,
[00:32:06] one of the first questions we will ask here is,
[00:32:09] why did you wait 10 months? Because as the Minister
[00:32:12] of Economy, as the head of the SPK, you come together. You say
[00:32:16] there is manipulation, there is manipulation. So, is this
[00:32:20] manipulation related to one person or two people? It is related
[00:32:23] to hundreds of thousands of people, and you do nothing for 10
[00:32:27] months in the face of this manipulation involving hundreds of thousands
[00:32:30] of people. Also, there are people and institutions
[00:32:33] that should have performed their auditing duties during
[00:32:37] this period, but they did not perform their duties. Who prevented
[00:32:41] them from performing their duties? This needs to be revealed.
[00:32:45] The political power that prevented them from performing their duties.
[00:32:48] Was their duty not done? Of course it wasn't done, because
[00:32:51] it came out, it came out. It says there is manipulation
[00:32:55] here. If nothing was done for 10 months, it wasn't done.
[00:32:59] You don't say there was negligence here, you don't say it was
[00:33:02] overlooked by someone. You are talking about billions of dollars,
[00:33:06] you are talking about the savings of hundreds of thousands of people.
[00:33:10] If there was seriousness after this statement that there was
[00:33:14] manipulation, it should have been addressed immediately.
[00:33:17] This means there is a system here, and those who established
[00:33:20] this system are liquidating the system they established today.
[00:33:24] Their goal is to legally shift the responsibility for
[00:33:27] this to a few fund managers, and to shift the financial
[00:33:30] responsibility to all our citizens, to taxpayers. Now, the issue
[00:33:34] is completely exposed here. Now, Mr. Yunus, you are also
[00:33:38] stating something else here. It was waited
[00:33:41] for 10 months. Who profited from privileged information?
[00:33:44] Yes, now according to that, perhaps
[00:33:48] there were some people who knew that this time bomb would explode
[00:33:52] in 10 months, or however many months it is. And
[00:33:56] these people, before large groups had the opportunity
[00:33:59] to withdraw from this fund, slowly withdrew and filled
[00:34:03] their pockets with profits. Is that what you are implying?
[00:34:07] It's not an implication, we are saying this clearly, because
[00:34:10] Now, look, what kind of country
[00:34:13] do we live in? My citizen goes and pays money for individual
[00:34:17] retirement for 10 or 20 years, thinking "maybe I can buy a car
[00:34:20] for my child when they grow up, or it will contribute
[00:34:24] to their education." They make savings, right? State contribution
[00:34:28] will come, maybe some of my money will accumulate there,
[00:34:32] and it will contribute to my child's education, or I'll pay
[00:34:35] for their wedding, buy a TV for their home, or I'll buy
[00:34:39] a bedroom set, or you have a small amount of savings,
[00:34:42] and you look at it and say, "how much would it be
[00:34:46] if I put it in a deposit?" You calculate it. But now,
[00:34:50] in this system that is being described, returns have emerged
[00:34:53] that are much higher than deposit interest rates or any
[00:34:56] other savings instrument in Turkey, right? I mean, it has increased
[00:35:00] tenfold, twentyfold. There are terrifying increases in a very
[00:35:04] short period of time, value increases expressed in thousands.
[00:35:07] Thousands, tens of thousands. So then we will ask, brother,
[00:35:11] while a retiree saves money by pinching pennies,
[00:35:13] trying to save within modest means by keeping it in deposit
[00:35:17] interest, who established this system? Who benefited
[00:35:21] from these privileged opportunities offered by this system? And
[00:35:24] most importantly, what benefits did people who knew when
[00:35:27] to intervene, and what intervention would be made at what stage,
[00:35:30] obtain from these places during these 10 months? I will give
[00:35:33] you the previous visual, in the previous visual, friends,
[00:35:37] in the previous visual, to this question,
[00:35:40] that is, isn't there an anomaly
[00:35:44] in its increase from 15 billion
[00:35:47] to 1 trillion 300 million TL? Altunç Kumova, the
[00:35:50] boss of Destek Yatırım, said, "Since this is a situation
[00:35:53] audited by the SPK, we thought we would definitely be notified
[00:35:56] if there was an abnormal situation." Is this a confession in your
[00:36:00] opinion? It is a confession, of course. Here,
[00:36:03] it is confessed that the bosses and the people
[00:36:07] who politically protected this will not be prosecuted.
[00:36:11] Look, I repeat, the bosses, the bosses
[00:36:15] who are at the head of this business, and the people
[00:36:19] who prevented the audit in the political decision-making
[00:36:22] mechanism for 10 months and even before that, will not
[00:36:26] be prosecuted. They found a few
[00:36:29] fund managers, and they will prosecute them. That's all there is to
[00:36:33] it. This is a confession of that. So, Ersin Eroğlu? Actually,
[00:36:36] the markets completely hit rock bottom on September 15-16
[00:36:40] due to this fund issue. Now, of course,
[00:36:43] the question that comes to mind here is this: You are talking
[00:36:46] about a plunder. First, do you have any information
[00:36:50] about a withdrawal from these funds in the period up to
[00:36:54] a week before September 15th, that is, between the 7th and
[00:36:57] 15th? Is there any information about the amount of this withdrawal?
[00:37:01] If there is, can we say the plunder is here, and is
[00:37:04] there any information about who carried out the plunder? Yes,
[00:37:08] now, of course, the plunder is not limited to that,
[00:37:11] the plunder is not limited to that. Of course, we also
[00:37:15] have some information that has reached us within the scope
[00:37:18] of this issue, but as you can appreciate, the incident
[00:37:22] is very fresh, we need to confirm this information, we
[00:37:26] need to conduct the necessary
[00:37:28] investigations. We are not in a position to say anything
[00:37:32] by naming names or stating amounts today, but believe
[00:37:35] me, in a few days, all this will be revealed in its
[00:37:38] entirety. Because we need to see this: look, these things
[00:37:42] have happened in Turkey in the past, but in the past,
[00:37:45] those involved in these matters, politicians and bureaucrats involved
[00:37:49] in such matters, were held accountable. Look, I see Mr.
[00:37:53] Fikret on the screen now, he will remember that there
[00:37:57] was a bankers' incident in Turkey in the early 1980s,
[00:38:00] or there was a situation into which the banking sector
[00:38:03] of that period was plunged in the environment where the
[00:38:06] 2000-2001 crisis was experienced, and all these scandals I mentioned
[00:38:10] had very serious political consequences. For this reason,
[00:38:13] believe me, this plunder we are facing will also
[00:38:16] have very significant political consequences. It will have
[00:38:20] serious effects on Turkey's economic management and politics.
[00:38:24] But again, I reiterate that
[00:38:28] it is necessary to conduct comprehensive investigations and
[00:38:31] confirm the information received. It is not right to present
[00:38:34] every piece of information to the public with the
[00:38:37] assumption that it is true. The leader of the New Party,
[00:38:41] Özgür Özel, also touched upon this issue yesterday
[00:38:44] and gave a hint that the matter needed to be
[00:38:47] looked at from higher up, and presumably, he will make
[00:38:51] another statement within this week on this matter. Will
[00:38:54] this be a statement regarding the higher-level or political
[00:38:57] dimension? This is undoubtedly the case, because, as I
[00:39:01] repeat, there are protected bosses, protected bureaucrats,
[00:39:05] and protected politicians here, because in the picture we
[00:39:08] see right now, "we see that these people are not
[00:39:12] held accountable, we see that these people are protected,
[00:39:15] and at such a point, in an environment where these
[00:39:19] people are protected, we see the liquidation of this plunder."
[00:39:22] Look, they say now that this liquidation, the liquidation
[00:39:26] of 131 fund institutions, will be realized by transferring
[00:39:29] them to Ziraat Bank and İşbank. I present this to
[00:39:32] the attention of our viewers: what is being liquidated right
[00:39:36] now is not these fund institutions, what is being liquidated is this
[00:39:40] plunder. "It's finished, they achieved their goals. They
[00:39:43] will throw a few scapegoats before the public, and then
[00:39:47] they think they will liquidate this plunder system. No,
[00:39:50] we will pursue this to the end. Mr. Fikret,
[00:39:53] yes, I want to ask Mr. Yunus
[00:39:58] Emre this. Now, Yunus Emre made a good
[00:40:01] diagnosis. He said that such plunders cannot
[00:40:05] happen without political protection. That is, he touched upon
[00:40:08] the political dimension of the issue. Indeed,
[00:40:12] considering that this plunder was carried out under political
[00:40:15] protection, what kind of initiative does the New Party
[00:40:19] plan to take to identify these politicians? For example,
[00:40:22] do you have any intention of filing a criminal complaint
[00:40:26] with the prosecutor's office, or bringing the issue to
[00:40:29] the parliament that will open on October 1st, Mr. Yunus?
[00:40:33] That is, undoubtedly, from October 1st,
[00:40:36] this issue will be one of our main agendas, both
[00:40:40] in terms of our Chairman's agenda in the group meeting
[00:40:43] and our agenda in the General Assembly of the Parliament.
[00:40:47] And within this scope, we will use all the opportunities
[00:40:51] provided to us by the Parliament's internal regulations and
[00:40:54] the Constitution, do not have any doubt. At the same
[00:40:57] time, we will pursue all avenues of legal recourse and
[00:41:01] court applications. But I especially want to draw our
[00:41:05] viewers' attention to one point again. Look,
[00:41:08] we are talking about a 10-month period, and within this period,
[00:41:12] we are talking about a concentrated plunder. And within this
[00:41:15] scope, we are talking about people who did not immediately
[00:41:19] address this, despite having made this diagnosis. Also,
[00:41:22] now, this SPK is being talked about a lot as
[00:41:26] an institution. Now, look, with your permission, let me
[00:41:28] explain with an example. Now, you are presenting this section
[00:41:32] that gets very high ratings in the evening slot. To
[00:41:36] be able to present this section, there is an accumulation
[00:41:40] of knowledge behind you. That is, for years, you have
[00:41:43] been a journalist, a television commentator, a television presenter,
[00:41:47] and you have reached this point. Mr. Fikret served
[00:41:50] as Ankara representative, newspaper editor. Now let's
[00:41:53] ask. How did the previous head of the
[00:41:57] SPK enter the SPK? Did he enter through the
[00:42:00] exams required by the profession, as we know? Or did he
[00:42:03] enter in another way? Are you talking about
[00:42:06] Ali Fuat Taşkesenlioğlu? Fuat Taşkesena. I am talking
[00:42:10] about the previous chairman. Also, how did he rise?
[00:42:13] Who are his relatives? These will be discussed
[00:42:16] a lot tomorrow and the day after, of course. That
[00:42:20] is, look, unfortunately, there is such a situation
[00:42:23] here. We are facing such a situation. Certain
[00:42:26] people are appointed to important institutions, important public
[00:42:29] institutions, as officials based on the criterion of being
[00:42:33] close to the government. These people do not have the
[00:42:36] ability, accumulation, or knowledge
[00:42:40] to work in those institutions. They are brought there so
[00:42:44] that they can overlook such irregularities, such mistakes,
[00:42:47] and be a part of this plunder system. We need
[00:42:51] to diagnose this. That is, competence and merit
[00:42:54] have been eliminated in Turkey. While diagnosing this,
[00:42:58] while expressing our cry about this, we said this
[00:43:01] by pointing out that these days were coming, as we
[00:43:05] reacted strongly to the interview approach in the public sector,
[00:43:07] because people who are not bound by the constitution,
[00:43:11] laws, and professional principles come to those positions as
[00:43:14] orders of the political power, and in those positions
[00:43:18] they hold, unfortunately, they do not protect rights,
[00:43:21] laws, justice, they carry out the instructions of the
[00:43:25] political will that brought them there. Yes, I mentioned this at the
[00:43:29] beginning of the broadcast, but let me list the
[00:43:33] names one by one, ladies and gentlemen, five new
[00:43:36] arrests in the investigation of the Istanbul Chief Public
[00:43:40] Prosecutor's Office regarding capital market transactions.
[00:43:44] And within this scope, Serdar Turhan, Chairman
[00:43:47] of the Board of Pusula Holding, Emre Tezmen,
[00:43:51] Chairman of the Board of Tera Yatırım Holding, and
[00:43:54] its executives, Emre Tezmen, Chairman of the Board of
[00:43:57] Tera Holding, and its executives, Alper Öztürk,
[00:44:00] Emre Alkin, Professor Dr. Emre Alkin, Professor
[00:44:04] Dr. Kerem Alkin, the Alkin brothers, two economist
[00:44:07] professors, were arrested. Previously,
[00:44:11] 4 suspects were arrested, and in the meantime,
[00:44:15] travel bans and asset freezes were imposed on
[00:44:18] all individuals reported by the SPK. Do you find
[00:44:21] this way of conducting the investigation sufficient? This
[00:44:25] is one. Secondly, secondly,
[00:44:29] it is taken, it is done, but in such a big
[00:44:33] scandal, many people, many experts describe this as
[00:44:36] a historic scandal. When evaluated from the perspective
[00:44:45] of these markets, a bureaucrat's resignation is seen in historic
[00:44:49] scandals, it is accustomed. That is, the world is
[00:44:52] accustomed to it, at least. Turkey was also accustomed
[00:44:56] to it once. What I mean, there would be some
[00:44:59] political accountability. Do you see these now? That
[00:45:02] is, we don't see it, but we don't accept it. That
[00:45:06] is, the fact that we don't see it, the fact that
[00:45:20] these resignations are not happening right now, does not mean
[00:45:24] it is right. We will pursue it to the end.
[00:45:27] Both in parliament and in the streets, we will
[00:45:29] not let this issue drop from the agenda of our
[00:45:32] citizens. We will do everything for those responsible to
[00:45:35] be held accountable. Well, before closing this
[00:45:39] topic, I want to ask this as well. Questions are
[00:45:42] also coming from our viewers about this matter, because
[00:45:45] small investors, now small investors also invested their
[00:45:49] money here. Those who plundered, plundered, but small investors
[00:45:53] are also waiting now, in fear. Regarding
[00:45:56] this issue, things are going down every day, I mean,
[00:46:00] it's constantly sifting. Yes. There was a redirection towards
[00:46:03] banks, but what do you think about this? What
[00:46:07] kind of actions should be taken for small investors
[00:46:11] who have money inside? A statement came, but
[00:46:14] how should these grievances be redressed? Now,
[00:46:17] there is of course responsibility on those who did not
[00:46:21] properly fulfill their auditing duty for the emergence
[00:46:25] of this great grievance of the small investor.
[00:46:28] That is, I want to bring this to your attention
[00:46:32] with an example. Remember what we were talking about
[00:46:35] during the earthquake days? That is, you go and
[00:46:39] buy a house, then the house collapses, and then you
[00:46:43] ask yourself, "Weren't there people who inspected this house?
[00:46:46] Weren't there engineers, inspection personnel, inspection
[00:46:50] organizations who signed off that this house was built
[00:46:53] according to regulations? Weren't there government organizations?"
[00:46:56] Right? You ask that. This is a very similar situation.
[00:47:00] This is not a very different situation. That is,
[00:47:03] while you are doing this, this is a legal process
[00:47:07] in Turkey. These processes are under control in Turkey.
[00:47:10] You enter this business within the framework of Turkish
[00:47:14] laws, knowing this, thinking that the relevant government
[00:47:17] institutions will prevent any wrongdoings or illegalities here.
[00:47:21] However, despite everything, we do not find it right
[00:47:24] for this burden, that is, this situation that has
[00:47:28] emerged, to be placed on the shoulders of taxpayers.
[00:47:31] I want to say that first. Whoever got rich
[00:47:35] from this plunder, whoever is responsible for this plunder, the arrows should
[00:47:38] turn to them, and they should be held financially
[00:47:42] responsible. Whoever took it, let them pay the
[00:47:45] bill, he says. Brother, there are examples of this
[00:47:49] in the world. Our chairwoman explained this with examples
[00:47:54] in Bursa yesterday. She talked about certain incidents
[00:47:57] in the United States, how they went back and how
[00:48:01] the money was taken from people who made huge profits,
[00:48:04] who committed huge plunders. The same should be done
[00:48:07] in Turkey. No ifs, let's give visual number 7,
[00:48:11] followed by visual number 6. Look,
[00:48:14] in visual number 7, yes, Mehmet Şimşek
[00:48:18] says that he knows that manipulation was done
[00:48:22] in some funds at his time. No one else
[00:48:25] is saying this. Ersin Eroğlu is not writing it
[00:48:28] as backstage information. I mean, it's not an allegation,
[00:48:32] the opposition has not made this allegation.
[00:48:34] An important name, a figure like Mehmet
[00:48:38] Şimşek, is saying this. What does Minister Şimşek
[00:48:42] say? We know that manipulation was done in some
[00:48:45] funds that showed an extremely sharp upward movement,
[00:48:49] and we are tracking them. The date is
[00:48:53] November 4, 2025. Yes. The year
[00:48:56] 2025, last November. Now,
[00:48:59] in September 2026, this scandal
[00:49:02] erupts, and Şimşek says
[00:49:05] that they know that manipulation was done in some
[00:49:09] funds related to an extremely sharp upward movement,
[00:49:13] and they are tracking
[00:49:14] them. And their tracking took a year. Do
[00:49:18] you believe this? He says, "We are tracking
[00:49:21] it," right? It took a year, brother. What kind
[00:49:25] of tracking is this? How does this tracking
[00:49:29] take a year? Mr. Yunus explains it like this:
[00:49:33] "We started working, we started creating codes,
[00:49:36] we started understanding the situation, and we are
[00:49:39] in the process of finishing," etc. etc. That is,
[00:49:43] such a process. He is not acting on a suspicion here.
[00:49:47] He says, "We know that it was done." He says,
[00:49:51] "There is manipulation." He says that manipulation was
[00:49:54] done. He is not saying that they have received some
[00:49:58] allegations and are investigating them. He says, "We know
[00:50:01] that manipulation was done, and we are tracking it,"
[00:50:05] and their tracking takes almost a year. Even
[00:50:08] children wouldn't believe this. Children wouldn't
[00:50:12] believe this. Well, let's also look
[00:50:15] at the other visual. Ramazan Başak, former Deputy
[00:50:19] Head of MASAK, right, Ersin Eroğlu? Yes, this
[00:50:22] is a very striking incident. Yes, now Ramazan Başak,
[00:50:25] just like Mehmet Şimşek said earlier, we are talking
[00:50:28] about this now, Ramazan Başak also shared this
[00:50:32] earlier. He says, "I made the following
[00:50:35] share on September 21, 2025. It coincidentally
[00:50:39] came across me, and I wanted to share it
[00:50:43] again." What did he do on September 21,
[00:50:46] 2025? What share did Ramazan Bey make?
[00:50:49] The head of the SPK, Ömer Gönül, has a statement
[00:50:53] like this: He says, "We attach great importance
[00:50:56] to the protection of investors." Ramazan Bey, on September
[00:51:00] 21, 2025, quotes this message
[00:51:03] and shares his comment
[00:51:07] with the public: "No, you don't attach
[00:51:10] importance, Mr. Chairman." He says, "If you and
[00:51:14] the previous chairman, whose name is associated with all
[00:51:18] kinds of allegations, had attached great importance to
[00:51:21] the protection of investors, millions of small investors
[00:51:24] would not have been so immorally plundered and victimized
[00:51:27] by these robbers. Because you did not fully perform
[00:51:31] your duty, now in this country, the easiest, fastest,
[00:51:34] and most money is obtained from market manipulations in
[00:51:38] An example of the severe consequences of merit principles being trampled
[00:51:41] underfoot. We know the situation of the previous president and we know the situation of the next president.
[00:51:44] These institutions in Turkey have become someone's private farm, brother. People who study
[00:51:48] in very good universities in Turkey, who study in very good universities abroad
[00:51:51] and come back to Turkey and say
[00:51:55] "I must be useful to Turkey, I must work hard
[00:51:59] for my country and contribute to my country" are cast aside.
[00:52:03] These people are brought into these institutions without exams,
[00:52:06] through various different methods,
[00:52:09] and then they are promoted to the top of these institutions,
[00:52:13] and then this situation arises. What did he say
[00:52:16] a year ago? "We attach great importance to the protection of investors."
[00:52:20] When you say this, a MASAK expert says, "No, sir, you don't attach importance,"
[00:52:23] and this person is detained simply because of these views
[00:52:27] and these facts he presented. Can there be anything
[00:52:30] more serious than this person's detention? Can you imagine?
[00:52:34] People who want to defend Turkey's rights make a statement within
[00:52:38] the scope of freedom of expression, and these people
[00:52:41] are detained. Today, the executives of the company
[00:52:45] they brought up are detained. Now I want to ask,
[00:52:48] aren't both Ömer Gönül and Mehmet Şimşek,
[00:52:52] and the other authorized friends in this matter,
[00:52:55] indebted to an apology to Ramazan Başağı and those
[00:52:59] who defend Turkey's interests, brother? Also, do you know what
[00:53:02] the best example here is? This issue of being detained
[00:53:06] twice that you brought up. Believe me,
[00:53:09] believe me, Ramazan
[00:53:11] Başağan's statements were seen by a prosecutor somewhere,
[00:53:15] and he gave the order for detention. I don't believe that, brother.
[00:53:18] I say it openly. There is a political order here. So this company
[00:53:22] is being protected. A person who makes a statement
[00:53:25] about this protected company is immediately detained,
[00:53:29] for a lesson to be learned. Everyone should be afraid,
[00:53:32] no one should speak up. No one should talk
[00:53:35] about this company, is what they want. Don't you see this? Why was Ramazan
[00:53:39] Başak detained? So the police officers and the prosecutor's
[00:53:42] office who read that statement saw a danger and detained
[00:53:46] him? No, sir, no, with a political order,
[00:53:49] with a political order, Ramazan Başak was made a target.
[00:53:53] If he is silenced, and if the public sees this, people
[00:53:56] will not be afraid, pardon, people will be afraid, no one
[00:53:59] will talk about this, cannot talk. Now you ask me, 10 years,
[00:54:03] pardon, 10 months, how did this go unnoticed? Why
[00:54:07] did nothing happen for 10 months? This is why nothing happens.
[00:54:10] If you shut up those who speak, if you detain those who open their mouths,
[00:54:14] then people will say, "Oh, there is political
[00:54:17] protection for this, this company is protected, this company
[00:54:20] has strong backing, there are people behind this company, I won't open
[00:54:24] my mouth, something might happen to me." Because they think this, Turkey
[00:54:27] comes to this state. Who are these people? Who could it be, brother?
[00:54:30] Who can give an order to a prosecutor
[00:54:33] in the justice mechanism saying, "Take Ramazan Başa, bring
[00:54:37] him here with two policemen"? Think about it, who can give
[00:54:40] such an order? By the way, are others
[00:54:43] afraid to talk about this Tera? Is there such a situation,
[00:54:46] Ersin Eroğlu? I mean, are some fund managers
[00:54:50] and experts saying that this Tera is untouchable
[00:54:53] Now, we are talking about a company that has reached its peak in 1.5 years.
[00:54:57] That needs to be said first. Afterwards, of course, it had
[00:55:01] very suspicious movements, but if you talk about these suspicious
[00:55:04] movements, you could be accused of manipulation by the CMB
[00:55:07] and opposition to market law, and detention procedures could be applied.
[00:55:10] However, Ramazan
[00:55:13] Başak was detained twice, and even access
[00:55:17] to his social media account where he made his warnings
[00:55:20] to citizens was blocked. He was detained twice,
[00:55:24] and access to the account where he made these warnings was also blocked.
[00:55:27] He is the former deputy head of MASAK.
[00:55:31] Ramazan Başan, I also
[00:55:35] wonder now that
[00:55:38] there is clearly a gap in Turkey,
[00:55:41] meaning powerful people (in quotation marks, powerful
[00:55:44] people) can take advantage of this and speculate
[00:55:47] on the stock market through these funds and make
[00:55:50] big profits. Now, here, 7 fund
[00:55:54] companies
[00:55:56] were seized, etc., but
[00:55:59] after this, is someone's path
[00:56:02] being cleared? In the coming period,
[00:56:06] will we encounter new portfolio companies, new fund
[00:56:09] companies? While operations are being
[00:56:12] carried out here, is there another such danger?
[00:56:15] You see? Well, ultimately,
[00:56:18] in an environment where state institutions have been brought
[00:56:22] to this state, anything can happen. I can't say that these things won't happen, Mr. Ersin,
[00:56:26] but it needs to be seen and known that Turkey is a country
[00:56:29] where very important economic activities are carried out, a country
[00:56:32] that has very significant
[00:56:36] accumulation in tourism, industry, and services. The fund
[00:56:39] management system such a country deserves,
[00:56:42] the capital market understanding such a country deserves,
[00:56:46] is not this. We are sure of this. Even if these incidents
[00:56:49] are fully investigated today, even if this liquidation
[00:56:53] is fully realized, believe me, with
[00:56:55] this understanding, with this management
[00:56:59] approach, as long as these political protection
[00:57:02] mechanisms continue to exist, and of course, most importantly,
[00:57:06] in an environment where the rule of law and judicial
[00:57:09] independence are absent, Turkey will face new scandals.
[00:57:13] Therefore, dealing with this scandal
[00:57:16] decisively is very, very important for Turkey. This is something
[00:57:20] we will do to the very end, but this needs to be known. This
[00:57:23] is not a personal matter. This is very important for Turkey.
[00:57:27] We must go so far that the responsible parties and those
[00:57:30] who provide this political protection, those who are this shield,
[00:57:33] must be revealed and punished so that no one dares
[00:57:37] to exploit the rights of the orphaned children in this way again.
[00:57:41] So, really, great determination is needed here,
[00:57:44] but when I read the statements of the political power,
[00:57:47] I don't see any such determination. We are facing politicians
[00:57:51] who speak with the comfort and ease of people
[00:57:55] who have done their job regularly. This is truly
[00:57:58] horrifying, but we will hold them accountable.
[00:58:02] When the parliament opens tomorrow or the day after,
[00:58:05] believe me, we will pursue these issues decisively, Fikret abi.
[00:58:09] Yes, a very important issue. Gökmen, actually,
[00:58:12] Mehmet Şimşek at the time had said that
[00:58:16] they were aware that these funds were inflating
[00:58:19] their stocks towards the end of 2025,
[00:58:22] but nothing was done during that period. However, Turkey has very
[00:58:25] competent institutions to supervise these matters.
[00:58:29] Ramazan Başak Bey also drew attention to this
[00:58:33] and was detained for it. There is the Capital Markets Board,
[00:58:37] there is the BRSA. They should
[00:58:40] conduct these inspections routinely and prevent these
[00:58:44] corruptions and frauds before they happen,
[00:58:47] and hand over the culprits to justice. Here, it is definitely
[00:58:51] possible to say that there is political protection,
[00:58:55] and I agree with Yunus Emre's view. Without such protection,
[00:58:58] such a large-scale and open fraud
[00:59:02] cannot be committed. Now, people are wondering
[00:59:05] how the grievances of our citizens will be redressed.
[00:59:07] They are waiting with this thought,
[00:59:11] thinking about their savings, what they saved
[00:59:14] for their children in the future.
[00:59:18] They entered this business and came out with a huge loss.
[00:59:21] In Turkey, the effectiveness of these
[00:59:25] supervisory institutions has been consciously removed
[00:59:28] this point: the main reason
[00:59:32] for this movement is that Ekrem İmamoğlu was declared
[00:59:35] a presidential candidate during the old CHP era.
[00:59:38] On the day he was declared a candidate,
[01:00:35] about Mansur Yavaş for about two weeks, especially since
[01:00:39] his meeting with Erdoğan. Now, regarding
[01:00:43] Mansur Yavaş... ah, we got it here. Now Murat
[01:00:47] Sabuncu asks if he is still a candidate,
[01:00:51] if he is a potential presidential candidate for your party. Özgür
[01:00:54] Özel's statement is longer, but in the part we took here,
[01:00:58] he says this: "One understands that they
[01:01:01] will do everything so that Ekrem President does not become
[01:01:04] a candidate. In this situation, Mansur Yavaş's candidacy
[01:01:07] is a very important option. However, let me say
[01:01:11] something delicate here. I have been saying it from day one,
[01:01:15] we are not declaring anyone as someone's backup. Mansur Bey
[01:01:18] himself said, 'As long as Ekrem Bey's claim continues,
[01:01:22] I withdraw my claim.' In the end, it was an attitude
[01:01:26] in line with the spirit of the day, and now that he is considering
[01:01:29] running, it is a very important option both for us,
[01:01:33] for those responsible for determining the future presidential candidate,
[01:01:36] and for the nation. In the end, it was an attitude
[01:01:39] in line with the spirit of the day, and now that he is considering
[01:01:43] running, it is a very important option both for us,
[01:01:47] for those responsible for determining
[01:02:39] actually won the elections in 2014.
[01:02:42] That is, the elections Mansur Bey won as the Republican
[01:02:46] People's Party candidate were unfortunately taken
[01:02:49] from him due to political interventions by ministers,
[01:02:52] because they went to the election boards, and of course, due to
[01:02:56] a memorable phrase of that period, "a cat entering the transformer."
[01:03:00] He suffered a great injustice, but of course, he continued
[01:03:03] his struggle, and as a successful mayor whom the society trusted,
[01:03:07] he achieved a great election success in the 2019 elections
[01:03:10] despite all the pressures. You remember the eggplant
[01:03:13] terror, onion terror, "terrorists will come
[01:03:17] and read your meters," "terrorists will read
[01:03:20] your natural gas meters, water meters" despite these statements.
[01:03:24] I am telling you this because Mansur Bey,
[01:03:28] after this election success, because he maintained
[01:03:31] his modest political approach and was a representative
[01:03:35] of the understanding of serving the people with great care,
[01:03:39] he was re-elected as the Mayor of Ankara in the next election
[01:03:42] with a record 60% of the votes.
[01:03:46] He received twice the votes of his closest rival.
[01:03:49] That is, while his rival received 30% of the votes,
[01:03:52] he received 60%. Naturally, citizens also
[01:03:56] make some attributions to such a very successful mayor,
[01:04:00] a mayor who has won the hearts of the people. They say things like,
[01:04:03] "If such a successful mayor, who solves Ankara's problems,
[01:04:06] who puts forward extremely innovative practices in the field
[01:04:09] of social policy, who shows great solidarity
[01:04:13] both in pandemic conditions and against great injustices
[01:04:16] in Turkey, if Mansur Yavaş were the President of Turkey,
[01:04:20] he would do this and that." Our citizens attribute
[01:04:24] these things. In the end, our General President's
[01:04:26] statement also reflects this reality. But there
[01:04:30] is a point here. We held a primary election.
[01:04:33] 15 million citizens went and voted for Ekrem İmamoğlu
[01:04:37] in that primary election. Now, after the open
[01:04:41] great solidarity, in the stance of solidarity
[01:04:44] that emerged against the great injustice done to Ekrem President,
[01:04:48] you will remember that Mansur Bey also took the forefront.
[01:04:52] Mansur Bey also stated that he did not have such
[01:04:55] a candidacy approach in the face of these injustices and that
[01:04:59] he supported Ekrem President. Now, the situation we are facing
[01:05:02] is unfortunately this: there is an effort to prevent
[01:05:06] Ekrem President in every way, because look at this person who understands
[01:05:10] that they will do everything so that Ekrem President
[01:05:13] does not become a candidate. The General President's statement,
[01:05:17] within the full text of the interview, points to something.
[01:05:20] What is it? The 2-year and 10-month sentence given
[01:05:24] to Ekrem President recently. Because look, I also
[01:05:27] fell into horror when I read the news
[01:05:31] about that sentence and the decision text, all of us fell into horror,
[01:05:34] because Gökmen Bey. There was Şadi Yazıcı,
[01:05:38] the former Mayor of Tuzla, there is an argument with him,
[01:05:41] he says, "Let him be, don't let him provoke,"
[01:05:44] etc. That's all the conversation is about. He was acquitted,
[01:05:48] acquitted again. So, in this case, where he was acquitted twice,
[01:05:51] on procedural grounds, they gave him a 2-year
[01:05:55] and 10-month sentence in the court it returned to, saying,
[01:05:58] "You didn't listen to the person, listen again and make a decision."
[01:06:02] This is a horrifying situation. Why are they doing this?
[01:06:05] They are doing this to go after İmamoğlu through all
[01:06:09] the existing files, to impose a political ban on İmamoğlu,
[01:06:12] to prevent İmamoğlu's candidacy. There is no other
[01:06:16] explanation for this. Therefore, our General President
[01:06:20] says, "They will do everything so that Ekrem
[01:06:23] President does not become a candidate." That is, these people,
[01:06:27] this understanding that convicted our mayor, our presidential candidate,
[01:06:31] Ekrem President, for two years
[01:06:34] and one month for saying
[01:06:37] "he is provoking," will ultimately do everything
[01:06:41] to prevent him from becoming a candidate.
[01:06:44] Our General President makes this diagnosis. Özgür Özel says,
[01:06:47] "Now that he is considering running." Yes,
[01:06:51] therefore, this is a very important
[01:06:54] option. He lists for whom it is a very important option.
[01:06:57] What does he mean by "now that he is considering
[01:07:01] running"? Well, ultimately,
[01:07:05] such a duty, a duty like presidential
[01:07:08] candidacy, naturally requires society to see
[01:07:11] that person in such a position, to desire
[01:07:14] it. This is a necessary condition, but it is not
[01:07:18] sufficient. Naturally, he also needs to have
[01:07:21] such a thought. That is, to overcome this social rising dissatisfaction in Turkey
[01:07:25] and to lead
[01:07:27] Turkey out of this darkness, it requires an initiative.
[01:07:34] Is there such a thought? Mansur President is not really
[01:07:38] busy with these issues. As the Mayor of Ankara,
[01:07:40] he is focused on Ankara's problems. He is making every effort
[01:07:44] to solve Ankara's problems, and indeed,
[01:07:47] Ankara is facing very significant services
[01:07:50] that have never been realized before.
[01:07:54] Therefore, what I see at this stage
[01:07:57] is this. Yes, Gökmen, now, of course,
[01:08:01] Mr. Mansur Yavaş is really focused on serving
[01:08:04] Ankara, and when asked this question,
[01:08:08] he doesn't give an answer. Now, let me emphasize
[01:08:11] bu hareketin. temel nedeni Ekrem imamoğlu'nun eee
[01:08:14] tabii eski CHP döneminde Cumhurbaşkanı adayı
[01:08:18] ilan edilmiş olması. Bu adalet ilan edildiği gün
[01:08:21] eee İmamoğlu'nun arkasında olduğunu ifade etti ve
[01:08:25] Cumhurbaşkanlığının adını bile anmadı.
[01:08:27] Şimdi Ekrem imamoğlu'nun bu iktidar
[01:08:31] candidacy will be prevented by this government.
[01:08:34] This is a very high probability. That is, the main reason
[01:08:38] and purpose of his arrest is to prevent
[01:08:41] his presidential candidacy. When such a situation
[01:08:44] becomes definite, when the elections approach, if İmamoğlu cannot
[01:08:48] be a candidate, then Mansur Yavaş's
[01:08:51] candidacy will come to the agenda. Mansur Yavaş
[01:08:55] shows careful consideration here. That is,
[01:08:59] instead of being a party's candidate, he aims to be the common candidate
[01:09:02] of all opposition parties and opposition movements against the government.
[01:09:06] Therefore, he is careful not to commit himself
[01:09:09] from now on, he is careful to stay out of the issue.
[01:09:13] That is, the new party supports Mansur Yavaş. We know this
[01:09:17] from the beginning. The Good Party expressed
[01:09:21] that they look favorably upon him, as did the Victory Party.
[01:09:24] He is still a CHP member; he has not resigned from there.
[01:09:28] But when conditions change, I believe he can join the new party
[01:09:32] and emerge as the presidential candidate of all opposition.
[01:09:35] If we could also take the second language, we only have 7 minutes
[01:09:38] left for Yunus Bey. Can I ask your question, Fikret abi?
[01:09:42] Of course, of course. I want to ask Yunus Emre
[01:09:44] the same question. That is, if İmamoğlu cannot
[01:09:48] be the new party's candidate, is Mansur Yavaş the candidate?
[01:09:51] Well, of course, you will appreciate
[01:09:55] that it would not be appropriate for me to say "our candidate is person A or person B"
[01:09:59] before an election decision is made. But this needs
[01:10:02] to be known: there has been a government
[01:10:04] in Turkey for 25 years, and this government
[01:10:08] has maintained its power by victimizing
[01:10:11] large segments of society from the very beginning.
[01:10:15] At the point we have reached today, this victimization,
[01:10:19] this weariness of the government, this desire for change,
[01:10:22] now constitutes a very large majority in Turkey.
[01:10:25] This large majority naturally includes all of us.
[01:10:28] I see Mansur Bey, in the framework I described,
[01:10:31] as a very valuable mayor who reacts to these injustices
[01:10:34] in Turkey, who does not accept these illegalities in Turkey,
[01:10:38] as the mayor of our second largest city, well-known by Turkey.
[01:10:42] I repeat, Mansur Bey's presidential candidacy
[01:10:46] is a societal attribution. When the time comes,
[01:10:50] we will naturally evaluate these within the party.
[01:10:52] Mansur Bey truly has
[01:10:55] great respect in all our eyes,
[01:10:59] we have great sympathy for him, and we see
[01:11:02] that his work in Ankara
[01:11:05] is an example for Turkey's change.
[01:11:09] That is, tomorrow or the day after, if there is a political
[01:11:13] power change in Turkey, believe me, what happens
[01:11:16] in Ankara will more or less happen in Turkey.
[01:11:20] Our citizens also see that. Therefore, you will appreciate
[01:11:24] that I do not want to enter into a candidacy discussion
[01:11:27] at this stage. I do not want to say "our candidate should be this or that,"
[01:11:31] but as I just explained, Mansur Yavaş is a very important
[01:11:35] person within this large opposition family
[01:11:38] and this large opposition family that will build Turkey's future.
[01:11:41] This should be seen this way. Eroglu,
[01:11:45] let me ask this way: statements regarding elections
[01:11:48] are coming from the government side, or rather, statements regarding
[01:11:52] election dates. Minister of Justice Mr. Akın
[01:11:55] Gürlek said "early 2028." Chief Advisor to the President Mehmet Uçum
[01:11:59] said April 18, 2028. No, April 16.
[01:12:02] Yes, he said April 2028. Does the new party
[01:12:06] have a prediction regarding election dates?
[01:12:09] 2, Mr. Özgür Özel, in his statement
[01:12:13] to Murat Sabuncu from T24, said it at the rally.
[01:12:16] He said it during his contact with citizens.
[01:12:20] He made a statement about 50 + 1, 60 + 1,
[01:12:24] and then a parliamentary system. If the new party
[01:12:27] comes to power in the next elections, is a parliamentary system on its agenda?
[01:12:30] Undoubtedly, listen. Now, the basis
[01:12:33] of our program, what does 60 + 1 mean?
[01:12:37] The basis of our program (you have 3 minutes)
[01:12:41] is the democratization of Turkey. That is, for us,
[01:12:44] the primary priority, the first thing we will do,
[01:12:47] are steps towards democratization. Now, in this context,
[01:12:50] to achieve this, we naturally need a majority
[01:12:54] in parliament. This is one.
[01:12:57] Why do we say 60 + 1 in the presidential election?
[01:13:00] We say 60 + 1 in the presidential election
[01:13:04] so that the elections conclude easily, so that the government
[01:13:07] cannot act with the intention of using state power
[01:13:10] to overturn election results, as it did in the past,
[01:13:14] and so that a great social consensus is seen
[01:13:17] for the realization of this change. The way is to win
[01:13:21] the elections with 60%. Therefore, for the presidential
[01:13:25] candidate, for the presidential elections, our goal
[01:13:28] is to win the presidency with 60% of the votes,
[01:13:32] to gain a majority in parliament, and then
[01:13:35] to realize this great change. That is, we know
[01:13:39] that we are victims, Mr. Ersin. We are a victimized party.
[01:13:43] Unfortunately, nothing was spared from happening to us.
[01:13:46] Our presidential candidate was imprisoned, a trustee was appointed to our party.
[01:13:50] The Republican People's Party was detached from its historical
[01:13:53] course by a null and void decision.
[01:14:03] We know we are victims, but we also know this.
[01:14:06] Society is already aware, but we are not content with this.
[01:14:10] We are working hard. In economy, in social policy,
[01:14:13] we are coming, we founded this party to come to power, that is, the new party, our
[01:14:17] party was taken from us, we need a party, sir, and our general
[01:14:21] chairman needs the title of general chairman, this is not a party founded for that.
[01:14:25] "It was founded to come to power, and we are doing
[01:14:28] whatever is necessary to come to power, we are doing
[01:14:32] this with great determination, and of course, we do not want this
[01:14:35] power to be like those in power now, to benefit from the
[01:14:39] power, glory, and splendor of power,
[01:14:42] to get rich quickly, we want power to democratize
[01:14:46] Turkey, to reach the target of Contemporary Civilization
[01:14:49] that Atatürk set for Turkey Therefore, we want
[01:14:53] to achieve this. To achieve this, we need a majority in the parliament, we need to
[01:14:57] win the presidential election with a large majority, and immediately after that, Turkey needs
[01:15:00] to switch to a parliamentary system. Yunus Bey, you are a political scientist,
[01:15:04] an associate professor, and as far as I understand,
[01:15:08] with your party identity, but more
[01:15:11] importantly, with your political scientist identity, you wrote
[01:15:15] an article, this article was published, the article is
[01:15:17] titled "New Party as a Social Movement and the Path to Power," the article is
[01:15:20] long, that is, not very long, but it deals with it here in this
[01:15:24] dimension. However, I must mention these titles:
[01:15:27] from the struggle for democracy to the social
[01:15:31] movement that will establish democratic power, a sentence whose nuances are very
[01:15:34] important: from the struggle for democracy to the social
[01:15:38] movement that will establish democratic power, a permanent political
[01:15:42] claim born out of necessity, objection is
[01:15:45] temporary, program is permanent, new
[01:15:47] generation party organization, a social
[01:15:51] movement organized in the form of a political party, look, a political
[01:15:54] party. a social movement organized in the form of, making
[01:15:58] the member again the subject of politics, no one is a
[01:16:01] guest, everyone is an equal founder,
[01:16:04] representation, cadres, and political renewal,
[01:16:07] knowledge-based and solution-producing politics, establishing clean
[01:16:11] politics within itself first, a party of struggle in an
[01:16:14] anti-democratic environment, these are all topics that need to be discussed at
[01:16:17] length, but, by writing this, what have you
[01:16:21] done, ultimately, as the general of our party,
[01:16:25] I wanted to share why we founded this party
[01:16:28] and what we have done so far and what we aim for in the near
[01:16:31] future, you are right, this is of course a habit
[01:16:35] from academia, that is, thinking by writing, I wanted
[01:16:38] to share this with society and readers, but you will appreciate that this
[01:16:42] is not an article that reflects only my thoughts, but rather
[01:16:45] a written form of the discussions we have had within the party and the ideas
[01:16:49] we have matured, if this were not forced upon us,
[01:16:52] we would need to talk about these
[01:16:55] topics more, and then they get angry, why doesn't the new party
[01:16:59] explain what it will do, it did, but it didn't have enough
[01:17:02] time. Yunus Emre, thank you very much,
[01:17:05] I wish you ease, we will be together again shortly, dear viewers.
[01:17:09] olacağız sayın seyirciler.
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[01:18:23] Açıkça continues, we are hosting three professors this evening
[01:18:26] on Açıkça. First, let me announce
[01:18:29] him because he came from Ankara from further away, economist Professor Doctor
[01:18:33] Yalçın Karatepe. Yalçın Hocam, welcome. Thank you.
[01:18:42] and former Minister of State Professor Doctor Ağat Andican. Ağat Hocam, welcome. Thank you, good broadcast. Ersin
[01:18:45] Eroğlu continues with us. Fikret Abi, soon,
[01:18:49] New Party Bursa Deputy Professor Doctor Kayhan Pala
[01:18:53] will also be with us via remote connection. Now,
[01:18:56] both Öner Hocam's determinations regarding this issue were reflected
[01:19:00] in the media, and Yalçın Hocam's tweets regarding
[01:19:04] this issue are on the agenda. Therefore,
[01:19:08] what is behind this issue,
[01:19:10] and where the real culprits should be sought,
[01:19:14] we will try to provide very valuable information
[01:19:17] about your perspective on this issue, dear
[01:19:21] viewers. I repeat the new development
[01:19:24] that I reported at the beginning of the previous
[01:19:27] segment. There are five new arrests. Look,
[01:19:31] five new arrests, and among
[01:19:34] these arrests, two of them are due to their connections
[01:19:37] as managers. Also,
[01:19:48] of course, the person in charge of Teren is also there.
[01:19:51] He is already being talked about a lot these days. So Emre Tezmen.
[01:19:55] Now, a television interview
[01:19:59] with Emre Tezmen from the past is circulating.
[01:20:02] He had a motto
[01:20:05] of "winning while making others win," like a slogan.
[01:20:08] The success of these
[01:20:11] papers, meaning their prices rising so much,
[01:20:14] 10 times, 20 times, some even 17,000 percent,
[01:20:18] it's hard to even pronounce. Yes, it's hard.
[01:20:22] Now, let's watch what Emre Tezmen said in
[01:20:25] that interview. If my friends
[01:20:28] are ready,
[01:20:30] I see the magic of this business like this, Hocam. In Turkey,
[01:20:34] when making investments or in business
[01:20:37] life in general, our motto is this: We are not
[01:20:41] after winning alone. We are among those who believe
[01:20:45] that we can only win if we make others win.
[01:20:47] We can win if we make
[01:20:51] our investors, our partners,
[01:20:54] our country, our state, and our nation
[01:20:56] win. If this understanding
[01:21:00] can spread to the grassroots,
[01:21:03] if it can spread to the capital markets, then I think
[01:21:07] the real gain will be there.
[01:21:09] düşünüyorum,
[01:21:12] Can I briefly ask both Yalçın
[01:21:16] Hocam and Öner Hocam what this gentleman
[01:21:19] said means and how
[01:21:22] it can be linked to this scandal that has victimized hundreds of thousands
[01:21:25] of people? Now, Gökmen Bey, I also watched the video
[01:21:29] you broadcast earlier, I hadn't seen it before.
[01:21:33] The expression used there is actually
[01:21:36] a very common thing in Turkey. It's an expression frequently used by those in power:
[01:21:40] spreading capital to the grassroots. So that people
[01:21:44] can evaluate their savings in company shares,
[01:21:47] they can also hold different financial assets.
[01:21:51] In fact, when we look at medium-term programs,
[01:21:55] since medium-term programs started to be published, I have read all of them.
[01:21:58] There was this expression: the access of companies to capital markets
[01:22:01] will be facilitated, meaning going public will be facilitated,
[01:22:05] capital will be spread to the grassroots, and so on.
[01:22:08] There are such explanations. One of the data I regularly
[01:22:11] follow is how many investors
[01:22:15] there are in the stock market. These are published regularly on the stock exchange's
[01:22:18] official website, called the data analysis platform. I go there and look.
[01:22:22] How much money there is, what is the size of whose portfolio - I mean
[01:22:26] in terms of investor segments. As of the end of August, the latest official
[01:22:29] 6.7
[01:22:33] million accounts in the stock market, meaning
[01:22:35] 6.7 million people have money
[01:22:39] in the stock market. However, what is striking is that
[01:22:42] we are usually told that the number of investors in the stock market has increased so much, do you see,
[01:22:46] capital is spreading to the grassroots and so on.
[01:22:48] Out of these 6.7 million people,
[01:22:51] 3.7 million - I repeat the number -
[01:22:53] 3.7 million people have less
[01:22:57] than 10,000 Turkish Lira in the stock market.
[01:22:59] So, we are not talking about capital spreading to the grassroots here.
[01:23:03] Approximately 90% of the transactions in the stock market
[01:23:07] are carried out through 30,000 accounts. The remaining millions
[01:23:10] actually have very small amounts of money. Now,
[01:23:13] if you make 10,000 in the stock market, say you gain 30%,
[01:23:17] that's 3,000 lira. If you gain 50%, that's a good
[01:23:20] performance, 5,000. We need to ask this question:
[01:23:24] what do people expect
[01:23:26] when they evaluate their small investments here?
[01:23:29] Their expectations? What we commonly see,
[01:23:33] and we clearly see this in social media posts
[01:23:36] after this fund issue exploded,
[01:23:39] is that because their incomes are insufficient,
[01:23:42] even if they have little money, they seek opportunities
[01:23:46] to multiply it quickly and easily.
[01:23:50] When I say opportunity, from an investor's perspective, they think, if I invest this
[01:23:53] here, can I turn my 10,000 lira
[01:23:56] into 15,000, or whatever
[01:24:00] return I will get.
[01:24:03] In Turkey, I think this is directly related
[01:24:06] to income inequality or the deterioration of income distribution.
[01:24:09] When you work, what you earn is not enough to get by.
[01:24:12] So if you have money for a while, you start looking for
[01:24:16] where you can invest it.
[01:24:20] Sometimes you invest it in risky assets like the stock market,
[01:24:24] and sometimes in less risky places like money market
[01:24:27] funds, which should normally be risk-free.
[01:24:31] Now, the citizen's desire to make money -
[01:24:34] I'm not criticizing this, everyone
[01:24:37] wants to make money - creates opportunities for people like
[01:24:41] the gentleman we showed on screen a moment ago. How does
[01:24:44] it create opportunities? The citizen, to make
[01:24:47] money, does not do this: analyze
[01:24:52] the company's balance sheet, look at its sector,
[01:24:55] evaluate the Turkish economy
[01:24:58] from there, analyze what's happening in the world, and how it affects the company's shares.
[01:25:02] They don't do this. What do they do? They look at past
[01:25:06] performances. For example, last month, such-and-such
[01:25:10] fund gained this much, in such-and-such period, such-and-such stock gained
[01:25:13] this much. This story has many buyers.
[01:25:17] This is not just something happening in this period. I have been
[01:25:20] explaining these things at the faculty for years, and I gave this example,
[01:25:24] I will mention its name. Hürriyet newspaper, Hocam, perhaps you remember,
[01:25:27] it was the late 90s, perhaps early 2000s,
[01:25:31] I don't remember when it last did it. It would publish
[01:25:34] news like this: In the first week of January
[01:25:37] of the year, if you had x amount
[01:25:40] of money, say 100 lira, and you invested it every day
[01:25:43] in the stock that gained the most on the stock market, you would have
[01:25:47] this much money at the end of the year. This news has many buyers,
[01:25:50] because you turn 100 lira into I don't know how many hundreds of thousands of lira. Every day,
[01:25:54] 20% - there was a limit then - the highest
[01:25:56] gainer, and every day the highest, it's easy to look back and find
[01:26:00] it, but it's impossible to predict it forward. Now, you are an average
[01:26:04] citizen, you read the newspaper, you see 1,000 lira becoming hundreds of thousands
[01:26:08] of lira, and you ask yourself, why can't I do it?
[01:26:11] Similarly, those who want to evaluate these funds look
[01:26:15] at the past performances or returns
[01:26:18] of these stocks. "I use quotes because we were already
[01:26:21] talking about how manipulative these are, but we clearly
[01:26:25] see it in the recent events. They look at these. Now,
[01:26:28] the gentleman on the screen
[01:26:31] a moment ago, Emre Tezmen,
[01:26:33] Tezmen,
[01:26:35] understood very well where investors look. The place he looks
[01:26:39] is to be at the top of the fund ranking. When you are at the top,
[01:26:42] money starts flowing in, because when you say "sort
[01:26:46] by fund performance in Tefas" and give a command in Excel,
[01:26:50] there are places that automatically sort and publish these.
[01:26:53] You look, and you see that while you gain 2-3%
[01:26:57] per month, X fund, like this Tera fund, gained
[01:27:01] incredible amounts like 6, 7, 10 percent per month, and it did this
[01:27:04] for quite some time. You say, everyone is winning, why should I stay
[01:27:08] out of it? I don't understand these things anyway.
[01:27:11] Even if the derivatives of the investment fund are different,
[01:27:15] I will also get into this. This time, money starts flowing
[01:27:18] into the system. "As money flows,
[01:27:22] those at the head of the system use this flowing
[01:27:25] money in illegal or by
[01:27:28] pushing the regulations,
[01:27:31] through various transactions like repo,
[01:27:35] reverse repo, raising stock
[01:27:39] prices, they show a stronger performance, making
[01:27:42] money flow, that is, allowing the system to be fed.
[01:27:46] This situation arises. But since there is no real
[01:27:49] value, that is, as long
[01:27:52] as money flows, the system is fed. When the money flow weakens,
[01:27:56] we already knew that they manipulate stock prices by borrowing
[01:27:59] from their other funds. We saw this too.
[01:28:03] We are facing a disaster created by
[01:28:06] such a system,
[01:28:09] a terrible event. We also know the fact
[01:28:13] that hundreds of thousands of people are victims.
[01:28:15] I have talked a lot, so let the other speakers.
[01:28:20] "Now, a question is asked to the manager of this
[01:28:23] Compass, he says, you started with this much
[01:28:26] money, 15 billion, it exceeded
[01:28:29] a trillion, in such a short time, this is abnormal, isn't
[01:28:32] it? And he says, well, of course, as the company manager, I am primarily
[01:28:36] concerned with that, and so on. At the end, he says, but
[01:28:40] since the Capital Markets Board
[01:28:43] audited it, if the Capital Markets Board saw any abnormality, it would
[01:28:46] have informed us, he says.
[01:28:49] This is considered
[01:28:52] an almost confessional statement on social
[01:28:56] media. Do you also think there is a confessional
[01:28:59] statement here? If it is a confession? A confession of
[01:29:02] what? Then, it is a confession, of course, but everyone
[01:29:06] is probably trying to save themselves. Now, Hocam,
[01:29:10] since it is his area of expertise, he probably
[01:29:13] observes these things experimentally and collects
[01:29:17] data. He explained it well,
[01:29:20] but please do not forget this aspect:
[01:29:24] this is not a coincidence or something that can happen
[01:29:27] in every economy. First of all, citizens need
[01:29:30] to know this: such a macroeconomic
[01:29:34] policy, a policy implemented by suppressing exchange rates in this
[01:29:38] way, that is, by excessively raising
[01:29:42] interest rates, makes people dependent
[01:29:46] on interest and returns from such financial
[01:29:49] instruments, or a regime that increases their attractiveness.
[01:29:53] We have such a regime in front of us. Let's put
[01:29:55] this aside. We cannot interpret
[01:29:59] this event without taking this into account. I am saying
[01:30:02] that these policies implemented
[01:30:05] since 2023 have given rise to this.
[01:30:08] Similar policies have also yielded similar
[01:30:12] results in the past. Let's remember the 2001 crisis. When you apply
[01:30:16] pressure on exchange rates in this way, the similar
[01:30:20] situations that will emerge are always things
[01:30:23] that theory guides us about or predicts.
[01:30:27] This is the first. Second, we, as Turkey, have
[01:30:31] learned lessons from past crises, and we
[01:30:34] didn't have proper financial markets in the past. These
[01:30:37] were gradually established with the efforts
[01:30:41] of opening up to the outside world and marketization
[01:30:44] since the 80s. For better or worse, we have a level
[01:30:48] of institutional development, and especially in financial
[01:30:51] markets, these bitter experiences
[01:30:55] brought us certain institutions. For example,
[01:30:58] the Capital Markets Board was established in the early 80s, the stock market
[01:31:02] was established in 1986-85. Later, the Banking Regulation
[01:31:06] and Supervision Agency was established, although we had another mechanism
[01:31:10] before that. Our financial institutions emerged
[01:31:13] in this way. However, these
[01:31:16] institutions were supposed to foresee certain
[01:31:20] shortcomings in the market and intervene
[01:31:23] to prevent the events we experienced
[01:31:26] from happening again. Their job descriptions were made accordingly,
[01:31:30] and their personnel organization
[01:31:33] was organized accordingly.
[01:31:36] And as far as I know,
[01:31:39] the Capital Markets Board, the Banking Regulation and Supervision Agency,
[01:31:42] and generally the economic bureaucracy in Turkey,
[01:31:46] were the most qualified bureaucracy.
[01:31:49] Therefore, it consisted of people who could interpret an event
[01:31:52] when they saw it, take precautions when necessary,
[01:31:56] and use the powers granted to them by law. When
[01:32:00] this event came to the public agenda earlier,
[01:32:04] like you, I also waited, or like the gentleman concerned,
[01:32:08] I also waited, because my trust remained in old Turkey,
[01:32:11] so one part of me thought that the institutions I knew
[01:32:15] in old Turkey would see these issues
[01:32:18] and not tolerate them, they would intervene.
[01:32:21] But they didn't. After that,
[01:32:24] it's very easy to blame others for this crisis
[01:32:27] after it has erupted. But what I wonder
[01:32:31] is what happened. What happened that these
[01:32:35] institutions, built upon so much experience,
[01:32:38] could not fulfill their duties? Because
[01:32:41] some things I know from within
[01:32:44] also come into play here. People see this anyway.
[01:32:48] The statements of the esteemed president and later the esteemed
[01:32:51] minister are also there, they see the event. Well, let me
[01:32:53] ask now, which I think is a very important
[01:32:57] thing, perhaps even more important for you:
[01:33:00] what happened that this was a case
[01:33:03] of Lades right before our eyes? Everyone
[01:33:07] knows what's happening, but no one is taking precautions.
[01:33:10] What is preventing these precautions from being taken? In
[01:33:14] my statements and in the article I wrote, I asked
[01:33:16] these questions. You emphasize this,
[01:33:20] you say those institutions could
[01:33:24] not fulfill their function. Let me take your program
[01:33:27] as an opportunity to tell you the answer:
[01:33:30] generally, politics is conducted through lobbying.
[01:33:34] That is, various groups lobby
[01:33:37] among members of parliament, with ministers,
[01:33:41] and explain their concerns, trying to influence
[01:33:45] decisions. This is completely normal, it's done this way all over the world.
[01:33:48] But when you move away from the parliamentary regime,
[01:33:52] to influence those laws and
[01:33:56] implementations, you no longer need to go to a minister,
[01:33:59] nor do you need to go to a member of parliament, because they
[01:34:02] are dysfunctional. You tell them to sign,
[01:34:05] and they sign. Ultimately, your words fall on deaf ears in parliament,
[01:34:09] but where is the lobbying done? It's done
[01:34:13] in single-man regimes established at the top,
[01:34:16] an oligarchic structure emerges, and it happens among
[01:34:19] them. Believe it or not?
[01:34:23] Including rector appointments, which we all know.
[01:34:27] Now, the presidency is not just about rectors,
[01:34:30] if you appoint any civil servant, an ambulance
[01:34:34] driver, you need to lobby at the presidency.
[01:34:37] Therefore, these lobbying activities are aimed
[01:34:41] at influencing that single person who will use the power.
[01:34:45] And whoever can reach him
[01:34:48] and has the chance to lobby and influence
[01:34:52] the use of power, what they say
[01:34:56] is done, not what is right or what should be done.
[01:35:00] Therefore, this crisis is not
[01:35:02] a crisis that can be evaluated only within the boundaries
[01:35:06] of financial markets. That's why we need to look at it broadly.
[01:35:09] This is a crisis created by the presidential system,
[01:35:12] by the single-man regime, and it's not the only
[01:35:16] crisis. Look, the 2018 Branson crisis,
[01:35:19] followed by the KKM issue, right? The NAS
[01:35:22] period, 60 million comes from
[01:35:25] symbolic figures, I'm saying it comes from Branson.
[01:35:28] Branson period's thing is 60 billion,
[01:35:32] it comes from NAS. There's this.
[01:35:35] 60 billion comes from the IBB case. I don't know,
[01:35:38] there must be another 20 there. So this presidential
[01:35:42] system has imposed an incredible cost
[01:35:46] on the public of the Republic of Turkey. Now,
[01:35:49] we economists or political scientists can say
[01:35:53] that this system is very costly, difficult, and so on, but
[01:35:56] in the case of Turkey, we can now express it in figures.
[01:36:00] The visible cost of this regime
[01:36:03] is 500 billion,
[01:36:07] and we are trying to sell bridges for 4-5
[01:36:10] billion, sell bridge revenues, and children
[01:36:13] in the country still cannot eat at their schools,
[01:36:16] they go hungry, you still cannot
[01:36:19] solve the problems in education, you cannot give pensions
[01:36:22] to retirees, you can give wages to minimum wage earners.
[01:36:25] To complete Hocam's argument, let me say one thing:
[01:36:29] if you pay people below the hunger
[01:36:32] threshold for minimum wage, it means people are starving
[01:36:36] below the hunger threshold. What will people do to avoid
[01:36:39] starving? They will either take a second job,
[01:36:43] and if that's not enough, they will resort
[01:36:46] to such schemes. Why? Because you show
[01:36:50] that life on television, you pump
[01:36:54] that life in the media. People want it, young people
[01:36:57] want hope, and young people who have lost
[01:37:00] hope inevitably turn to such
[01:37:03] areas. Well, if you allow me, can I add something? Because
[01:37:07] it's directly related to your question. Now, the issue of responsibility
[01:37:11] is actually multi-dimensional. In the statement you quoted earlier,
[01:37:15] "company owners say, 'the state was there, if it had intervened...'" they make
[01:37:18] a statement to put themselves in a somewhat irresponsible position outside
[01:37:22] that system, but there's no acceptable side to this, I'm telling you frankly,
[01:37:26] these things are done knowingly.
[01:37:29] I'm a company owner, but I don't look at what's happening in the stock market. All company
[01:37:33] owners first look at where their stock price is going,
[01:37:37] especially if there are such abnormal increases, this
[01:37:40] is not something people do by coming together in the market,
[01:37:44] it's done knowingly." We clearly
[01:37:47] see that it was done knowingly in yesterday's Capital Markets Board statement.
[01:37:51] The Capital Markets Board has a surprising statement. It says,
[01:37:55] in the last quarter of 2025, that is, last autumn,
[01:37:58] we saw manipulative transactions here. They don't
[01:38:02] call it manipulation, they use somewhat convoluted sentences
[01:38:05] like "price formation processes that do not reflect the truth," but I'm telling you the gist.
[01:38:09] We saw manipulation being done. Upon this, they say, we wrote
[01:38:12] an opinion from there. We asked the other.
[01:38:15] "we brought together market experts" he says a year has passed,
[01:38:18] look, the CMB legislation is regulated
[01:38:21] in such a way that it allows you to intervene immediately when you see manipulation,
[01:38:25] and think about the stock market, when movements in the stock market reach a certain
[01:38:29] level, something called a circuit breaker kicks in, transactions are
[01:38:32] stopped and so on, so everyone actually sees
[01:38:36] what's happening, the company owner does it willingly,
[01:38:39] what happened to the institution responsible for supervising
[01:38:42] and regulating it?" It sees it's over, and the minister
[01:38:46] who is politically responsible for these matters and is affiliated
[01:38:49] with that institution also sees it. Let's remember, last autumn in Istanbul,
[01:38:53] the minister and the CMB, in what was probably a financial
[01:38:56] summit, sat side by side and spoke to television
[01:39:00] cameras, saying that strange things were happening here.
[01:39:03] I'm telling the esteemed Minister from here, you should have turned to the gentleman sitting next to you,
[01:39:07] not the television camera,
[01:39:10] and asked that day, "If these things are happening, what are you doing?"
[01:39:13] Now, the fact that everyone sees it but no one intervenes
[01:39:16] naturally brings these questions to people's minds:
[01:39:19] Is it possible that
[01:39:22] someone was protected and shielded within this system,
[01:39:25] or that someone's resources... were there, and
[01:39:29] they were allowed to leave the system
[01:39:32] in some way, or until they took their money and left,
[01:39:36] these matters were overlooked? As a citizen, I rightly
[01:39:39] wonder about this. Everyone sees it, but no one does anything. Who
[01:39:43] doesn't see it? Those with 10,000 liras who worry if they can grow
[01:39:46] their house rent by 2-3% before their rent payment
[01:39:50] date, or those saving money to buy a car,
[01:39:53] they might get a little more from there.
[01:39:57] They don't see it, but everyone else sees it. I don't
[01:40:00] think it was a coincidence, I don't think
[01:40:04] it was overlooked by anyone, and it was done
[01:40:07] willingly with these fund managers involved,
[01:40:10] where the institutions directly responsible
[01:40:14] are also responsible, like the BRSA.
[01:40:17] Look, I think they also have a bank
[01:40:20] called Destek Yatırım, these are not just funds. I openly
[01:40:23] ask here, their banks are still open, no measures have been taken, sir, let me ask a question.
[01:40:28] "How many times has the BRSA inspected
[01:40:31] that bank until now?
[01:40:34] Look, I'm openly asking something: Was the inspection officer
[01:40:38] called back
[01:40:39] who went for the inspection?
[01:40:42] Let them say no, they weren't called back, and we'll be relieved, or that they sent them
[01:40:46] and inspected, and share these inspection reports with the public.
[01:40:49] We are asking concrete things. So,
[01:40:52] the fact that something everyone knows
[01:40:55] about has continued for so long,
[01:40:58] gives me the impression that there are
[01:41:01] protected and shielded funds involved.
[01:41:05] In that case, we need to ask the question: who was protected,
[01:41:08] and whose resources
[01:41:12] were allowed to grow so much? Now, let me say something.
[01:41:15] The question you asked me, about the owner or manager
[01:41:19] of the relevant company saying something, well, in the current
[01:41:22] Turkish Commercial Code, which we refer to as
[01:41:26] the new TCC,
[01:41:31] it is defined with an innovative approach, and
[01:41:34] new institutions have been created within provinces
[01:41:37] and holdings or companies, especially new institutions
[01:41:41] related to internal audit, and one of these institutions
[01:41:45] is to monitor the company's
[01:41:48] risk, which is a financial institution,
[01:41:52] to track it, and when those
[01:41:55] risks arise, to intervene.
[01:41:58] Today, the duties of some of the arrested board
[01:42:02] members, as far as I can see,
[01:42:05] are important in this sense.
[01:42:08] Therefore, the legislator has already seen these
[01:42:11] risks and placed such a corporate structure
[01:42:14] there. So, I think the legislator
[01:42:17] has fulfilled their responsibility,
[01:42:21] but there has been a serious problem in its implementation
[01:42:24] I say that the reason
[01:42:27] for this problem is the current system of governance
[01:42:30] in Turkey. Yes. Now, there's an important
[01:42:32] headline in Professor Öner's statement,
[01:42:36] which is this: look, the independence of institutions has always been a debated topic
[01:42:40] in Turkey. However, looking at the laws,
[01:42:44] regulations, and directives issued, yes, it's not bad,
[01:42:47] some independence has been achieved here, but how functional
[01:42:51] this independence is, is also a matter
[01:42:55] point brought out by this scandal, says Professor Öner.
[01:42:58] "Is this independence being made functional or not?
[01:43:01] Look at the Central Bank,
[01:43:05] independent? I see.
[01:43:08] Professor Yalçın also wants the following to be clarified, dear viewers:
[01:43:12] since the CMB said it became aware of these actions,
[01:43:16] that is, for 10 months, who are the people who have made
[01:43:20] heavy transactions through these funds? He says these should be announced, because after
[01:43:24] these things exploded, that is, since September 17th, hundreds of thousands
[01:43:27] of people couldn't get their money, so a default occurred, and they
[01:43:31] couldn't get it anyway when everyone wanted it at once. So,
[01:43:34] did someone say, "Friend, this thing is going to explode,
[01:43:38] people don't know yet, let's slowly get
[01:43:41] out of here and secure our sweet profits"?
[01:43:44] While it was privately held, this infrastructure
[01:43:47] was being prepared by 14 people through their own
[01:43:51] transactions. Who are those 14 people
[01:43:55] who made transactions among themselves?
[01:43:58] "The later ones are separate, but these 14 people
[01:44:02] are names I'm very curious about.
[01:44:04] Therefore, who made significant transactions
[01:44:07] during that 10-month period and in high amounts?"
[01:44:10] Who made withdrawals? Now, they might say it's a trade secret,
[01:44:13] but Professor Yalçın says no, this is not a trade secret, right? It's not,
[01:44:17] of course. Now, over 500 thousand
[01:44:20] people have been victimized, they have lost their money.
[01:44:24] You can't say, "We're sorry, those who were involved in these matters
[01:44:28] made transactions, we can't tell you, it's a trade secret." Trade secrets
[01:44:30] happen in normal business operations, and no one knows
[01:44:34] what anyone else is doing, but there's a loss of over 20 billion
[01:44:37] dollars, over half a million victims.
[01:44:41] In that situation, the statement "We can't disclose who made
[01:44:44] the transactions" is not acceptable. I emphasized this in that post
[01:44:48] about the 10-month period, but I think
[01:44:51] it shouldn't be limited to that. Now, should all transactions
[01:44:55] part of the issue. at from before? Of course,
[01:44:59] the records of all transactions made in these funds are kept,
[01:45:02] they are everywhere. So, when you look at the Central
[01:45:05] Registry Agency, who bought and who sold...
[01:45:09] Emre Tezmen was also there, yes.
[01:45:23] In the end, the records are there, so since this system
[01:45:26] was established, that is, things like Tera,
[01:45:30] Pusula, and so on, a large majority of the transactions
[01:45:34] made there, who made them, how much money did they
[01:45:37] put in, how much money did they leave with when they withdrew,
[01:45:41] how much money was earned? I'm not talking about small investors,
[01:45:45] like someone put in 10,000 liras and took out 20,000 and left.
[01:45:48] But who are those who entered and exited
[01:45:52] with billions of liras? This needs to be determined,
[01:45:55] and a significant portion of the losses should be recouped from them.
[01:45:59] This is how things are done all over the world. You can't say, "What can we do, you made money
[01:46:03] at the right time, you realized it early and left," because, I'm saying this
[01:46:06] with the CMB's statement, manipulation was carried out here.
[01:46:10] To say "information" is to willingly
[01:46:13] change prices to benefit certain individuals, willingly.
[01:46:16] That is, manipulation is a crime,
[01:46:20] isn't it, sir, in our law, it's a crime all over the world,
[01:46:23] and the CMB says it detected this. But it
[01:46:26] shouldn't be limited to this one-year period. I emphasize
[01:46:30] that period specifically because they waited.
[01:46:34] Their waiting is perhaps more specific,
[01:46:36] there's a point related
[01:46:39] to the departure of accounts from there... I'll express
[01:46:43] it when it's my turn. It will be your turn,
[01:46:46] but let me say hello to our guest joining remotely, dear viewers.
[01:46:50] We have two economics professors, two medical professors.
[01:46:54] Professor is a medical professor but a politician, former
[01:46:57] Minister of State. Professor Pala is also a medical professor.
[01:47:01] We used to broadcast a lot with Professor Kayıhan during COVID,
[01:47:04] but for a while now, he's been a Bursa MP for the New Party.
[01:47:08] Now, Professor Kayan, I'll come to you, but let's listen to Professor Ahat.
[01:47:11] Professor Ahat says the names should be announced.
[01:47:13] However, if there are names that cannot
[01:47:17] be announced, that's the key
[01:47:21] sentence and question. And there's a long
[01:47:24] 10-month delay. I'll say something
[01:47:27] about the chronology a bit later.
[01:47:29] The board's decision
[01:47:32] on this and its announcement of
[01:47:35] restrictions and so on was in August.
[01:47:39] "Only in the period after that, do we see
[01:47:42] the squeeze beginning to affect small investors.
[01:47:46] This wasn't the case before that period.
[01:47:48] Now, there's an interesting
[01:47:51] situation that wouldn't happen anywhere else in the world.
[01:47:54] This Altunç Kumova, the owner of Destek
[01:47:57] Holding, hmm,
[01:48:00] in his prosecutor's statement,
[01:48:04] the prosecutor asks a question, as mentioned when
[01:48:07] starting a little earlier. "He says, your company,
[01:48:10] which has a market value of approximately 15 billion
[01:48:13] Turkish Liras, has reached 1 trillion
[01:48:17] 300 billion liras
[01:48:20] in Turkish Liras. Isn't there an anomaly in that?
[01:48:24] Answer: Yes, the figure you mentioned
[01:48:27] is an abnormal figure, but as the company owner, I didn't know what to
[01:48:31] do in this situation." Now, look, 1 trillion
[01:48:35] 300 billion Turkish Liras is the company's
[01:48:38] value. What is this company?
[01:48:40] Destek Holding. What has it done?
[01:48:44] It has funds. So, where did it invest?
[01:48:47] It invested around 60% in stocks,
[01:48:50] 60, 70, or 50% or whatever. It invested in stocks,
[01:48:54] and the rest in repurchase agreements, I don't know,
[01:48:57] bonds, and so on, treasury bonds,
[01:49:00] and so on. Now, in which country
[01:49:02] of the world, in which country of the
[01:49:06] world can you get such a large income
[01:49:10] and a large
[01:49:12] outflow by just investing in bonds and other things?
[01:49:16] The market value is 1 trillion
[01:49:18] 300 billion liras. I wondered,
[01:49:22] what is the situation of other well-known
[01:49:26] companies in Turkey? Look, Garanti Bank is one of the top
[01:49:29] ones, 545 billion
[01:49:32] liras market value, 545 billion
[01:49:35] liras. Tüpraş is 417
[01:49:39] billion. I checked the figures today.
[01:49:43] Koç Holding is 214 billion. İşbank
[01:49:46] is 355 billion.
[01:49:49] This fund has grown to almost double
[01:49:58] the size of these giant corporations.
[01:50:00] Is this possible
[01:50:04] in Turkey? What did they invest in to achieve
[01:50:07] such a huge
[01:50:10] thing? The situation was clear from the start,
[01:50:14] that is, that thing,
[01:50:17] the famous, Leonard Cohen's
[01:50:20] once before, it became
[01:50:24] an issue, I brought it up here, there's that thing, "Everybody Knows,"
[01:50:27] isn't there? Everyone knows, a situation that perfectly
[01:50:30] fits that here. I want to remind
[01:50:34] our viewers of it. It says, roughly, everyone
[01:50:37] knows the losses are criminal, everyone knows the fight
[01:50:41] is criminal, everyone knows the ship
[01:50:44] is taking on water, everyone knows the captain
[01:50:48] is lying, everyone knows the good guys
[01:50:51] lose, the poor stay poor, the rich get richer, everyone
[01:50:55] knows that's how things work.
[01:50:58] Now, a song,
[01:51:00] lyrics that perfectly fit this event.
[01:51:04] Now, the reason I started
[01:51:07] with this event was this: Ahat
[01:51:11] Andican summarized this situation with a very famous,
[01:51:15] well-known, and also beautiful song by Cohen.
[01:51:18] With the lyrics of that song, according to the CMB's
[01:51:21] statement that Professor Hoca just mentioned, the CMB brought the issue
[01:51:25] before the Financial Stability Committee chaired by
[01:51:29] Minister of Treasury and Finance Mehmet Şimşek. When?
[01:51:32] On December 2nd of last year,
[01:51:35] and said, "In the last quarter
[01:51:38] or 3 months of this past year,
[01:51:41] there are movements in funds that are
[01:51:45] incompatible with normal life, with the real economy, with real
[01:51:49] life." Movements that
[01:51:53] cannot be reconciled with reality.
[01:51:56] That is, things are being done in funds
[01:52:00] or funds are being raised
[01:52:03] so much that their prices are exaggerated
[01:52:07] to an extent that it's not possible in real life.
[01:52:10] So, the Financial Stability Committee, Mr. Mehmet Şimşek
[01:52:13] himself stated two days ago, I think,
[01:52:16] that they made decisions, saying that they need to pursue
[01:52:20] this issue, there are indeed such things in some funds. "You say this
[01:52:23] in December, why do you wait until August?
[01:52:27] Now, the question Professor Yalçın asked earlier,
[01:52:31] this is the crucial question. You can
[01:52:34] prepare it in a day, what needs to be done is clear,
[01:52:38] and you would quickly pursue the matter, wouldn't you? No,
[01:52:41] it's not pursued, they wait for 8 months.
[01:52:44] An interesting thing happens in June, look, a topic that no one
[01:52:48] has touched upon or that we've missed. Morgan Stanley publishes a report.
[01:52:53] And in the report, it says that there are very
[01:52:56] serious irregularities in some funds in Turkey.
[01:53:00] There are inconsistencies. Hmm.
[01:53:03] With this report from Morgan Stanley, the importance of this
[01:53:07] report is this: even though we say foreigners
[01:53:11] have left the stock market and various investment
[01:53:14] opportunities in Turkey, there's still a significant
[01:53:17] foreign presence, a certain amount remains.
[01:53:21] Morgan Stanley's assessment
[01:53:25] is very important in this regard, and it is also important
[01:53:28] for future hot money issues. So, when Morgan
[01:53:32] Stanley publishes such a report,
[01:53:34] funds that want to come in from outside for carry
[01:53:37] trade will somehow realize that
[01:53:41] there is such a situation in Turkey and will say,
[01:53:45] "Let's wait a bit." Subsequently,
[01:53:48] restrictive regulations and measures
[01:53:51] are prepared in August. Now, I have this question
[01:53:54] in my mind: If this Morgan Stanley
[01:53:58] report hadn't been released
[01:54:01] in June, would these regulations
[01:54:04] have come to the agenda in August, leading
[01:54:07] to the chain of events that has now erupted
[01:54:10] by September? This is the question in my mind.
[01:54:14] We can know, we can estimate the answer to why they waited.
[01:54:18] People who have invested serious amounts of money
[01:54:21] in the management and other aspects of these
[01:54:23] funds, either as founding partners or in some way
[01:54:27] on their own behalf or on behalf of others,
[01:54:30] have withdrawn during this period. They invested
[01:54:35] and then withdrew. They sold at the highest
[01:54:38] points or left, and
[01:54:41] they realized their profits and left. They equalized
[01:54:45] their profits. What's left
[01:54:49] is the 537,000 or
[01:54:51] around 550,000 ordinary citizens,
[01:54:55] those who invested 10,000 liras or similar
[01:54:58] small amounts, as Professor
[01:55:01] Yalçın said. Now, at this point...
[01:55:05] Mr. Mehmet Şimşek says that this is limited
[01:55:09] to only 7 funds, excuse me,
[01:55:12] to 7 portfolio management companies.
[01:55:15] He says there are 131 funds. The company
[01:55:19] says 131 funds. Now, looking at these
[01:55:22] 131 funds among the over 2000
[01:55:25] funds in Turkey, when you listen to the discussion,
[01:55:28] you say, "Well, there are over 2000 funds,
[01:55:31] and 130 is fine,"
[01:55:35] but still, it's a small number, so you might think
[01:55:38] it's tolerable in relation to the issue. Mr. Mehmet Şimşek
[01:55:42] doesn't say this, though: How much of the money that these people
[01:55:46] manipulated and that is now estimated
[01:55:50] to be around 20 billion dollars was invested
[01:55:53] in these funds? What percentage?
[01:55:56] These 7 companies,
[01:55:59] that's right, he should say that first.
[01:56:03] So, there are trillions
[01:56:05] of dollars in funds in Turkey, and 1 trillion
[01:56:08] of it somehow goes bankrupt?
[01:56:12] Is that it? For example,
[01:56:14] we need to answer this question. I also want
[01:56:18] to remind you of one point: when we were in politics,
[01:56:21] it would often come up, and it still does.
[01:56:24] When you talk somewhere and say, "The stock market
[01:56:28] is like this, the economy has collapsed like this,
[01:56:31] financial things have happened like this," the bank
[01:56:35] crisis of the 90s, or rather, bank crises,
[01:56:39] are always brought up by the AKP
[01:56:42] and its spokespeople. That's why I wondered
[01:56:45] during those periods, how much Turkey actually
[01:56:49] suffered losses, damages. Well,
[01:56:52] approximately 45 billion dollars is mentioned,
[01:56:55] but 17 billion dollars of this belongs
[01:56:58] to private banks, and the rest to public banks,
[01:57:02] that is, Halkbank, there was Emlak Bank at that time,
[01:57:06] Ziraat Bank, and at that time, the Treasury
[01:57:09] and the political will said to the Treasury,
[01:57:12] "Brother, give them treasury papers,
[01:57:16] around 22 billion dollars, give it to those three public
[01:57:19] banks, and to the private banks that were closed
[01:57:23] and transferred to management, give them 17 billion
[01:57:27] dollars worth of papers." So, there's no net
[01:57:31] money loss, as is the case now.
[01:57:35] "Give treasury papers and accrue interest.
[01:57:39] Therefore, this continued for years like this,
[01:57:43] and now think about it, so many banks, about 20
[01:57:46] banks at that time, collapsed or were seized,
[01:57:50] 17 billion dollars. Now,
[01:57:52] here, you have 7 portfolio
[01:57:56] companies and a loss of 20 billion
[01:57:59] dollars, and this loss
[01:58:02] will probably not be realized
[01:58:05] to a large extent. When the assets of the seized
[01:58:08] funds are sold, when the things they hold are sold,
[01:58:12] it's not possible to sell them at their value.
[01:58:15] In the end, the rest will be paid from the treasury or from
[01:58:19] our citizens' pockets. So, no matter
[01:58:22] which way you look at it, it is truly
[01:58:25] such that in the past, a minister
[01:58:29] came out, remember, and said,
[01:58:32] "Enter the stock market." "You need to enter
[01:58:36] the stock market, both for the spread of capital
[01:58:39] to the base, and for the country's economy
[01:58:43] to develop, and so on, you'll make money," a minister
[01:58:46] had stated. Before a year had passed
[01:58:49] since these statements, the stock market suddenly
[01:58:52] crashed. I don't remember the exact figures, but it was like
[01:58:56] a 'shaking out the lambs' as the common people say,
[01:58:59] where the money of the poor citizens was somehow
[01:59:03] squandered. We see this largely
[01:59:05] in this fund issue. I hope and expect
[01:59:09] that the remaining funds, the remaining funds,
[01:59:13] are truly operated in accordance
[01:59:16] with rules, laws, and
[01:59:20] our beliefs. I have serious
[01:59:23] reservations about this,
[01:59:26] because on December 2nd, the minister himself
[01:59:30] stated that certain things were done
[01:59:32] in some funds...
[01:59:36] He said manipulation, didn't he? We were informed that manipulation
[01:59:40] was carried out, but you didn't seize
[01:59:43] any of them, brother, you didn't do anything to any of them.
[01:59:47] You waited 8 months, and they waited for them to increase
[01:59:50] what they were doing even more and to leave
[01:59:53] from there. I'm still asking that question, you know, why was
[01:59:57] a certain mechanism put into place to protect
[02:00:01] and shield the resources of certain circles,
[02:00:04] certain individuals, and certain groups,
[02:00:07] and to realize their wealth transfer? So, to a large
[02:00:10] extent, Gökmen Bey, these stock market
[02:00:13] issues, these fund issues, financial markets,
[02:00:16] have meaning in economies
[02:00:19] where there is stability and solid economies.
[02:00:22] The public, that is, the viewers,
[02:00:26] should keep this in mind.
[02:00:29] If there's a crisis atmosphere in an economy for 3 or 4 years,
[02:00:33] and a policy aimed at a crisis is being pursued,
[02:00:37] that is, if the purpose of that policy, especially,
[02:00:40] is a financial stability policy, it means
[02:00:44] we have a problem with financial stability."
[02:01:19] the commission met, made a statement,
[02:01:22] raised its questions, and
[02:01:25] the New Party is also pursuing this fund scandal,
[02:01:29] but it argues that the issue should be addressed
[02:01:33] much more broadly, not just within the scope
[02:01:36] of the arrests and questions, as we understand it from the first segment
[02:01:40] we read. How is the New Party pursuing this,
[02:01:44] how does Kayhan Pala see this?
[02:01:47] First of all, good evening, I salute your guests.
[02:01:51] Mr. Gökmen, besides these technical details,
[02:01:54] there's something we need to talk about. Actually, this picture
[02:01:58] is a new frame of the AKP's inability
[02:02:01] to govern Turkey well. There's no transparency,
[02:02:05] and there's no accountability. That's why the New Party's
[02:02:08] Economic Council, when looking at this process, not just
[02:02:12] one photo, I don't want to repeat what has been said, there were very
[02:02:16] comprehensive discussions. Within these discussions,
[02:02:19] it's understood that this process is not limited to this event,
[02:02:23] as Professor Yalçın clearly stated, a deliberate resource
[02:02:27] transfer mechanism was put into action.
[02:02:30] This is the stock market
[02:02:33] How long this resource transfer has been happening,
[02:02:37] how it happened, and to whom it was transferred,
[02:02:40] should be investigated comprehensively. Moreover, as our guests
[02:02:44] have emphasized several times, it was known long before.
[02:02:47] In fact, you know, a minister
[02:02:51] who swore to the Queen stated last November
[02:02:54] in Turkey regarding this issue that
[02:02:58] "we are aware of this, there is a serious problem here."
[02:03:02] We're talking about a structure that has been tolerated for 10 months and therefore
[02:03:05] used as a tool for capital transfer and resource allocation.
[02:03:08] That's why the new party,
[02:03:11] in order to learn in detail who is involved in this structure and to what extent,
[02:03:14] as well as how resources were transferred and where these resources
[02:03:18] are, will attempt
[02:03:22] to verify some data until parliament opens.
[02:03:25] As you know, our Secretary General made very comprehensive statements on this issue in the first
[02:03:29] part, and will also bring this issue up comprehensively
[02:03:32] in parliament after it opens.
[02:03:36] a few more details that haven't been talked about so far.
[02:03:40] For example, what is the relevance of a rector
[02:03:44] in a resource transfer of over 20 billion dollars? How do we reconcile
[02:03:47] such an event with a rector? The concept of rectorship,
[02:03:51] higher education, this is something that needs to be discussed
[02:03:55] where it stands in this matter.
[02:03:58] Also, it's been said several times, but for example,
[02:04:02] an income of 5 billion dollars is being attempted
[02:04:05] to be obtained from the privatization of a bridge, or
[02:04:08] as we have frequently stated, you will remember,
[02:04:11] by two presidential decrees, 125 health facilities,
[02:04:15] some of which are actively
[02:04:17] used as hospitals and family health centers, are being put up for sale,
[02:04:21] and the income to be obtained from the sale is perhaps
[02:04:25] not even 2 billion dollars. It is necessary to comprehensively
[02:04:28] examine to which units, individuals or
[02:04:31] institutions, to which structures
[02:04:34] a resource 10 times that amount was transferred in a short time.
[02:04:38] And besides examining, Gökmen Bey, all of us here should perhaps
[02:04:42] go further and demand accountability. We should not complain
[02:04:46] about a lack of transparency and accountability, but rather
[02:04:49] discuss in detail how we will demand this accountability
[02:04:53] and definitely demand it. And perhaps this demand for accountability
[02:04:56] should turn into a comprehensive form of accountability
[02:05:00] that includes every citizen, not limited to parliament.
[02:05:04] How do you assess the situation regarding the lack of any resignations
[02:05:07] as of now? Would you have expected a resignation?
[02:05:10] One or more resignations? If we weren't in the AKP era,
[02:05:14] I would certainly expect it, because in the past
[02:05:18] in Turkey, all our guests here are old enough
[02:05:21] to remember resignations even when much smaller incidents occurred.
[02:05:25] We all lived through that. But in the AKP era...
[02:05:29] As you know, there is no such mechanism as resignation. So, the absence
[02:05:33] of this mechanism alone is not
[02:05:35] a situation that can be explained solely by the presidential
[02:05:39] system of government. If you recall,
[02:05:42] as Mr. Ahat also mentioned earlier, many very problematic
[02:05:45] scandalous events occurred in Turkey, but in the face of these,
[02:05:49] no one had any intention of resigning. So, let me say, since it's from my field,
[02:05:53] in the incident known as the newborn scandal,
[02:05:56] did you hear of any of the officials
[02:06:00] named resigning, Mr. Gökmen, even though there was evidence?
[02:06:03] I don't find the lack of a resignation here surprising
[02:06:07] from the perspective of the AKP government, but I find it shameful
[02:06:11] from the perspective of citizens and politicians. Let me emphasize that.
[02:06:14] Okay, Mr. Fikret. We mostly directed our questions
[02:06:18] in the first segment. Now, I'd like to ask for your comments
[02:06:20] on whether those names will be revealed,
[02:06:23] that is, all this...
[02:06:26] After Mehmet Şimşek announced that this was a manipulation,
[02:06:30] the fact that so much time has passed,
[02:06:33] the fact that during this time more stringent
[02:06:36] measures were not rapidly implemented, that the situation was not intervened
[02:06:40] in, suggests the possibility
[02:06:43] that some people may have made large transactions
[02:06:46] during this period. Who are these people?
[02:06:50] Will these people be revealed or not? Of course, it is very
[02:06:53] highly probable, Gökmen, that there was
[02:06:56] an organized fraud.
[02:07:00] This is very clear when looked at from the outside. This, of course,
[02:07:04] cannot be done without protection. Especially,
[02:07:08] it must be that the institutions with auditing authority
[02:07:10] in this area neglected their duties or were prevented
[02:07:13] from fulfilling their duties, which is why
[02:07:17] this process occurred. I want to briefly read two articles:
[02:07:20] The duties of the Capital Markets Board Inspection
[02:07:24] Department Presidency: a) To carry out
[02:07:27] auditing activities for concealed profit transfers
[02:07:30] and transactions of publicly traded
[02:07:34] companies and collective investment institutions
[02:07:37] and their affiliates that violate the prohibition
[02:07:40] of concealed profit transfers; b) To audit acts
[02:07:43] of abuse of assets delivered to investment
[02:07:46] institutions, fund boards, and collateral
[02:07:49] officers due to capital market activities.
[02:07:52] This is exactly our topic: to carry out
[02:07:55] auditing activities for irregularities in legal
[02:07:59] books, accounting, and financial
[02:08:02] statements and reports. So now,
[02:08:05] a very clear duty has been given to the CMB.
[02:08:09] This auditing duty. Has this auditing duty
[02:08:12] been fulfilled? If it had been, we wouldn't
[02:08:15] be facing this outcome. So, has the CMB neglected
[02:08:18] this duty? We don't know that.
[02:08:21] Has the CMB tried to fulfill this duty
[02:08:24] but been prevented from above? We don't know that either.
[02:08:27] Who profited from this organized fraud business?
[02:08:30] Are there people with authority among those who profited?
[02:08:33] Are there politicians? These questions need to be clarified.
[02:08:37] Therefore, I don't see any problem
[02:08:40] with revealing the names of those who were involved
[02:08:44] in this fraud and gained financial benefits from it.
[02:08:47] In fact, I believe they must be revealed,
[02:08:51] and the public should know who's who. Ersin Eroğlu,
[02:08:54] now, here, at the same time,
[02:08:58] there's something important in Altunç Kumova's statement, as you said.
[02:09:02] Altunç Kumova, the boss of Destek Holding, openly says
[02:09:05] that if there was a problem, "let's do this," he says.
[02:09:08] Ersin Eroğlu, friends, let's bring up that visual,
[02:09:11] because we're going to commercial soon, right? Ersin Eroğlu, let's take his speech
[02:09:15] after the commercial so the flow isn't interrupted. But in the meantime,
[02:09:19] let's remind our viewers of Kumova's
[02:09:22] answer to the question asked, and then go to commercial.
[02:09:26] He is asked, "You started
[02:09:30] this journey from TL," he says, "that is,
[02:09:34] a market value of 15 billion over the 46 TL price.
[02:09:37] How did this company reach 1 trillion
[02:09:41] 300 billion TL? Isn't there an anomaly in this?"
[02:09:44] he says. Of course,
[02:09:48] where is 15 billion, and where is 1.3 trillion?
[02:09:52] And he says, "Yes, it is an abnormal figure,
[02:09:55] but I was the company owner, I didn't know what to do."
[02:09:58] "What do I know,
[02:10:00] what do I know?" he says. "But I always had this thought:
[02:10:04] since it's something supervised by the CMB, if there was an anomaly,
[02:10:08] I would probably know." The man says,
[02:10:11] "15 billion increased to 1.3 billion, what do I know, I was the company owner,
[02:10:14] I don't know" and so on and so forth. After the break.
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[02:11:32] It is clearly continuing. Ersin Eroğlu,
[02:11:34] it was his turn. I reminded
[02:11:37] my viewers once again of Kumova's answer to the question asked.
[02:11:41] It's still there behind the scenes. Ersin Eroğlu, you started
[02:11:44] your comment by drawing attention to this. Why?
[02:11:48] Yes, Altunç Kumova is the chairman
[02:11:51] of the board of directors of Destek Investment Bank.
[02:11:54] He says, "I noticed an increase, but I thought the CMB would intervene if there was a problem."
[02:11:58] Of course, we cannot read intentions here, but it needs to be underlined
[02:12:01] that since he is an experienced person in these matters,
[02:12:05] he must know that there was a problem.
[02:12:08] And his statement was taken comprehensively.
[02:12:11] But the part about the CMB intervening
[02:12:14] is important. In my opinion,
[02:12:17] this should also turn into a criminal complaint.
[02:12:21] I'm saying this against the CMB. Because why?
[02:12:25] Now, today there are arrests today.
[02:12:28] Who was arrested? Emre Tezmen,
[02:12:31] Chairman of the Board of Tera. The Alkin brothers,
[02:12:34] Professor Emre Alkin. A parenthesis needs to be opened here
[02:12:38] at the same time. He was appointed as rector by President Erdoğan,
[02:12:44] wasn't he? Yes, as rector.
[02:12:46] Rectors are appointed as such, and like all rectors,
[02:12:50] he is also a rector appointed by President
[02:12:53] Erdoğan. This may be the first time
[02:12:57] a rector has been arrested, even if it's a private university, a foundation
[02:13:00] university. Let me explain.
[02:13:03] In foundation universities, the board of trustees
[02:13:06] proposes, and the president approves
[02:13:10] one of them or the one he proposes. It's the same in state universities.
[02:13:23] Alper Öztürk is also among those arrested, but let's state this so no one draws the wrong conclusion from this.
[02:13:26] Ultimately, Emre Alkin
[02:13:29] was not arrested for a story related to his rectorship.
[02:13:33] Therefore, yes, this is a striking
[02:13:37] story, meaning this is the first time
[02:13:40] a rector appointed by the president
[02:13:47] or approved by him has been arrested. But the subject of the investigation is not related to him.
[02:13:50] The subject of the investigation is related to Tera. Both of them, as far as I understand,
[02:13:53] were arrested because of their relations with Tera, right? Emre Tezmen
[02:13:57] also has interviews and talks
[02:14:01] at Haliç University, where Emre Alkin
[02:14:04] is the rector, with Emre Alkin next to him.
[02:14:07] And Serdar Turhan, the chairman of the board of directors of Pusula,
[02:14:10] was arrested today.
[02:14:13] I wonder about this. I'm not saying Topkapi.
[02:14:16] Topkapi, Topkapi, I apologize.
[02:14:20] Yes, I apologize. Topkapi University, I correct that.
[02:14:23] Here, of course, what's important is that
[02:14:26] in an investigation conducted by the Istanbul Chief Public Prosecutor's Office, exits before
[02:14:30] September 17th need to be looked at.
[02:14:33] Ultimately, one of the reasons for these funds crashing
[02:14:37] is that there were large sales,
[02:14:40] and the sales occurred on the 17th.
[02:14:42] Can I add something? I interrupted a lot, but
[02:14:46] rumor has it that although we take September 17th as the official
[02:14:49] date of collapse, there is a rumor
[02:14:52] that before that, certain places
[02:14:55] were visited in Ankara,
[02:14:59] and negative answers were received. This could have created
[02:15:02] an insider trading effect
[02:15:06] on others. The issue of triggering
[02:15:09] is already about the acquisition of Pusula.
[02:15:12] That is, the issue of a home, a participation
[02:15:16] home, its acquisition, or rather its failure to be acquired.
[02:15:19] An explanation was made by Emre Tezmen, and Muhammet Yarız
[02:15:22] was already arrested last week.
[02:15:26] It is said that this, the failure of this matter to be finalized,
[02:15:30] the lack of approval from Ankara, but despite that, the announcement,
[02:15:33] triggered this event. However,
[02:15:37] as a result of the investigation conducted by the Istanbul Chief Public Prosecutor's Office,
[02:15:40] I expect the following to emerge:
[02:15:42] who made sales
[02:15:46] I'm giving examples of dates. So, let's say September 10th to 17th,
[02:15:50] or September 5th to 17th. How many sales were made?
[02:15:53] This information, professor,
[02:15:56] is available in what system?
[02:15:59] It's in Takasbank. Can the Istanbul Chief Public Prosecutor's Office
[02:16:02] write to them? Of course.
[02:16:06] Can they tell the Istanbul Chief Public Prosecutor's Office
[02:16:09] who made withdrawals and in what amount? With an official letter?
[02:16:13] Of course. These things can happen
[02:16:16] as a result of this investigation. Let's see where this investigation will go,
[02:16:20] and whether letters will be written to these places,
[02:16:24] because the investigation is also about the people
[02:16:27] who made these requests. If there was speculation,
[02:16:31] how did that speculation happen? Who carried it out,
[02:16:34] and how much money are we talking about? Because,
[02:16:38] actually, the biggest question in the public eye
[02:16:42] will be answered this way.
[02:16:44] How did this company, which is one of Turkey's most established
[02:16:47] companies, acquire such a large
[02:16:50] volume? How did this
[02:16:53] fund grow so much?
[02:16:56] How could it make 300, 500,
[02:17:00] 1000 times profit?
[02:17:03] How could the fund owners profit?
[02:17:06] And the most important question, perhaps it will be answered then:
[02:17:09] Who protected whom?
[02:17:13] Who made a killing from this, in quotation marks?
[02:17:16] I think, as a result of this investigation,
[02:17:19] I hope and I wish
[02:17:23] that these questions will be answered.
[02:17:25] Will they be answered? Very easily, professor,
[02:17:28] the prosecutor's office can easily access
[02:17:32] the data in those relevant places with a letter.
[02:17:36] Of course, I also see a danger, and it needs to be emphasized
[02:17:38] that there is a situation here
[02:17:42] where those who should have done their duty did not,
[02:17:46] and there are no resignations from those places, and this is not the first time
[02:17:49] this has happened in Turkey. I'm sure
[02:17:52] today, many people
[02:17:55] who invested money in Tera, who are small investors
[02:17:58] and are waiting for their money to multiply, waiting for their savings to increase in value,
[02:18:02] their grandfathers also experienced
[02:18:05] such a grievance in this country, didn't they? What was there back then?
[02:18:08] Again, there was Hastelli
[02:18:10] and so on.
[02:18:12] Yes, there was. His brother experienced it, his father experienced it.
[02:18:16] Something called Çiftlik Bank came out, right?
[02:18:19] Or Todex, something called Todex came out,
[02:18:22] it was an intermediary institution, a crypto scam.
[02:18:25] Now, will a person who invests money here, his grandfather,
[02:18:28] father, brother, experience grievance himself?
[02:18:32] What is the main reason for him to experience it?
[02:18:35] Because Todex was clearly not audited.
[02:18:38] Çiftlik Bank was clearly not audited.
[02:18:42] The authorities of that Hastelli
[02:18:46] scam, we can actually say that this audit was not effectively carried out,
[02:18:50] Ersin Eroğlu, because when such allegations came to the agenda,
[02:18:53] the relevant public authorities made some press.
[02:19:26] If it is prevented in some way, then tomorrow, Turkey will talk about
[02:19:29] other scandals, and other hundreds of thousands will be victimized,
[02:19:33] he says, and that's already happening. Now,
[02:19:37] my minister said that Mr. Mehmet Şimşek
[02:19:40] said that there are over 2000 funds,
[02:19:44] and there's a problem with 130 funds. The fund we closed
[02:19:47] is 130. When we look at it, the rate
[02:19:50] seems small, right? It seems like a 4-5% rate.
[02:19:53] But we should also have the data for
[02:19:57] what percentage of the money in the funds
[02:20:01] this 5% represented. That is, if there's,
[02:20:04] for example, 2 trillion in the funds,
[02:20:08] and 50% of it is here,
[02:20:11] because there's nearly 1 trillion here, we can't look at the issue from Mehmet Şimşek's
[02:20:15] perspective either. Then it's not 5%,
[02:20:18] meaning even if it's 5% of the funds,
[02:20:21] it's 50% of the money in the system. Your perspective is probably more
[02:20:25] accurate; otherwise, why would it grow so much? But if you allow me
[02:20:28] a little more, I apologize for interrupting you, but
[02:20:32] it's exactly what you said, linking it.
[02:20:35] Ersin?
[02:20:38] Of course, yes. Professor Yalçın, please, I'll give you the floor,
[02:20:41] it's your turn, but let me give some more information about TR
[02:20:44] and then please continue. Friends, visual number 9,
[02:20:48] there was an interesting aspect of Tera, as we understand
[02:20:52] from what was told. That is, there seems to be
[02:20:55] a structure that people are afraid to talk about.
[02:20:58] There's some information that gives rise to this suspicion.
[02:21:02] Now, Uğur Yılmaz wrote today that since we realized
[02:21:06] that the situation in the funds in Turkey
[02:21:13] was waiting to explode like a ticking bomb, we must have talked about this with countless fund managers, analysts, and economists. For months, no one agreed to speak on the record about this,
[02:21:16] everyone was afraid of being sued by Terra
[02:21:20] and the wrath of the fund's followers who sprung up on social media.
[02:21:23] In recent months, we also met with many people from Tera.
[02:21:27] When we asked Emre Tezmen, whom we spoke to in March,
[02:21:30] how this system came about, he said, "I founded it,
[02:21:33] I am its architect." He said that the system he established
[02:21:36] brought profit to himself, to investors, and to the state through taxes,
[02:21:40] and that there was no problem here. When we asked him if he was afraid
[02:21:44] that this would end badly, based on the valuation of Destek Finans,
[02:21:47] he said, "It's a company I absolutely believe in, but I won't comment on the prices."
[02:21:51] The Tera team often held meetings in London, where they met with major investment banks and foreign
[02:21:54] investors. They used to say that Tera would one day
[02:21:58] become a major investment bank. But, in the words of the Minister of Justice,
[02:22:02] every high-priced Ponzi-like scheme
[02:22:05] that does not support the price foundation.
[02:22:16] Did it have a privileged position? We don't understand. So, such suspicions arise. Go ahead, professor, I would like to contribute
[02:22:19] at the point where I interrupted you earlier.
[02:22:23] Now, speaking in terms of macro figures, I have been horrified
[02:22:25] since I watched Mehmet Şimşek's statements on NTV.
[02:22:29] It's not something to be taken very seriously, there are over 200 funds,
[02:22:32] and 130 of them are gone. If you explain it as around 6%,
[02:22:36] there are people who have lost all their savings.
[02:22:41] What will you say to them? Will you say that this is not a lot of money
[02:22:45] even on Turkey's scale? Are they just statistics?
[02:22:48] Exactly.
[02:22:50] We must reject
[02:22:53] the political understanding that disregards the human
[02:22:57] stories involved in this. Look, I remember very well
[02:23:01] when the first Gulf War broke out
[02:23:04] and America intervened in Iraq, the father, who was president at the time,
[02:23:08] and I was living there, made a statement.
[02:23:11] He said, "We won this war at a very low cost,
[02:23:15] only a few American soldiers died," and so on.
[02:23:19] I remember very clearly the statement of one of the mothers of the dead American
[02:23:22] soldiers, "For me, this was the most expensive war in the world," she said. She had lost her child.
[02:23:26] People whose shoes were worn out, who didn't buy new shoes
[02:23:29] to save money so they could meet other needs later,
[02:23:32] these men, women, lost their money.
[02:23:36] Will we just look at this on a macro scale
[02:23:39] and act as if nothing happened? Mehmet Şimşek, does he not feel responsible
[02:23:43] for the situation that the tenant, who was made
[02:23:46] to believe that there was no risk,
[02:23:49] and the legislation is also like that,
[02:23:52] who tried to earn a little more money by the end of the month,
[02:23:56] will experience with the landlord at the end of the month?
[02:23:59] Look, Mehmet Şimşek is a professional fund manager.
[02:24:03] Let's be clear about that. He's a politician,
[02:24:06] but search on Google what he did
[02:24:09] when he was not in politics. He worked in England
[02:24:12] for a simple company, or rather,
[02:24:15] he was a manager in foreign funds.
[02:24:19] It was a famous company, I don't remember its name.
[02:24:22] I think it was Lehman Brothers. He worked there,
[02:24:26] provided consultancy services after being a minister, and so on.
[02:24:29] We are talking about a person who should know better than us
[02:24:32] what a fund is, how it operates, how it invests,
[02:24:36] because he has actually done those jobs. He already noticed the problem,
[02:24:40] his mentioning it last November also shows this.
[02:24:44] But that doesn't absolve him of responsibility, does it?
[02:24:47] If you know what's happening, the average citizen,
[02:24:51] who has an account in this fund, who has a small amount of money,
[02:24:54] look, all systems are aimed at protecting
[02:24:57] the small saver. In fact,
[02:25:00] in these funds you displayed on screen, like Tera and so on,
[02:25:03] there's a definition called "free fund." This "free fund"
[02:25:07] entered our legislation in 2006.
[02:25:10] Why a "free fund"? The name wasn't chosen randomly.
[02:25:14] "Free" - free from what?
[02:25:17] Free from many things in the legislation, flexible, because there are very serious
[02:25:21] restrictions in the legislation. If you establish a fund,
[02:25:24] you cannot invest in that, you cannot invest in this.
[02:25:27] For example, your share in an asset cannot exceed this,
[02:25:31] and no more than a certain amount of the fund's total money
[02:25:34] can be in one asset, and so on. There are many regulations
[02:25:37] in our country. Now, in 2006,
[02:25:40] this was relaxed a bit, there are also people who understand these matters,
[02:25:44] it's not just small savers.
[02:25:47] There are also those who understand financial transactions,
[02:25:50] and this regulation is made as a "free fund" so that funds allowing them to operate
[02:25:53] and giving them room to maneuver can be established.
[02:25:55] When this regulation was first made,
[02:25:59] a financial limit was set for those who could operate in these funds:
[02:26:02] 1 million lira. I checked yesterday; at the exchange rate
[02:26:06] of 2006, it was 700,000 dollars. The CMB said
[02:26:10] that you cannot allow people with less than 700,000 dollars into this system,
[02:26:13] because they don't know,
[02:26:16] they might not know. Therefore,
[02:26:20] the system is always aimed at protecting the small saver.
[02:26:23] It's like this all over the world. Otherwise, the big ones win or lose,
[02:26:27] they know the risk, and they bear the consequences. For Mehmet Şimşek to look at this
[02:26:31] on such a macro scale and say, "There were so many thousands of funds,
[02:26:33] only 130 of them are gone," is to ignore the human story
[02:26:37] of this. We must strongly reject this,
[02:26:41] and stand against it. Someone who can't pay rent,
[02:26:44] but they made these maybe they were going to buy a car,
[02:26:47] they were investing their small savings there, and so on. Therefore, trying to gloss
[02:26:51] over this without taking it seriously is neither politically
[02:26:54] acceptable nor humanly acceptable.
[02:26:58] I've been reading the stories of those who lost money
[02:27:01] here for three days, and it breaks my heart.
[02:27:05] You can't accuse people of greed and so on.
[02:27:07] Mehmet Şimşek says there's no systemic
[02:27:09] situation.
[02:27:11] This is pretty much
[02:27:14] a systemic thing. Everyone knows
[02:27:17] what's going on, like Red Monday. Everyone,
[02:27:21] look, you showed earlier how these funds' values
[02:27:25] increased from 15 billion lira to 1.5 trillion lira.
[02:27:28] Let's talk about this. Imagine a company
[02:27:31] that has 100 shares. It has 100 shares.
[02:27:35] Only 30 of these are offered to the public.
[02:27:38] The remaining 70 are held by the company owner.
[02:27:42] This fund also bought 25
[02:27:45] of these 30. it takes it and
[02:27:49] it stays in the cash register. There are 5 stocks traded,
[02:27:52] bought and sold, then this fund, with the resources it collected, increases
[02:27:56] those 5 stocks from 5 liras to 5.00 liras.
[02:27:58] It increases them.
[02:28:01] 5, I am giving numbers as examples, consider them as ratios, it increases from 5
[02:28:04] liras to 5,000 liras, then it says, what is the market value? One is 5,000 liras,
[02:28:08] how many do I have? The company owner says I have 70, multiply by 70,
[02:28:12] my value is this much, the fund says I
[02:28:15] have 25 of this, multiply it by 5,000, my
[02:28:19] fund's value. The value became this much. Actually, there is
[02:28:22] a bubble created by increasing the price of
[02:28:26] 3 to 5 stocks, I'm giving 3 to 5 as an example, consider
[02:28:29] it as a ratio. We are not talking about a real value creation.
[02:28:32] In limited quantities, is there any responsibility of the SPK
[02:28:36] here? Of course, there is. Where is it? First of all, it is not limited
[02:28:40] to these funds, there are problems that we have identified in general.
[02:28:43] First of all, we need to increase this public offering rate.
[02:28:46] What does it mean to make three, five, ten... 5
[02:28:50] publicly open? Whatever you do, the boss of the company
[02:28:53] will make the main decision, so this is not a public offering. We need to increase
[02:28:57] the public offering rates. You must ensure that all the money
[02:29:00] from the public offering of a company you offer to the public
[02:29:04] is put into the company. I follow public offerings,
[02:29:07] I have written dozens of articles. It's in my column in a newspaper one day.
[02:29:11] The man sells his own shares and steps aside. What is its name?
[02:29:14] Public offering. Then you look, there is nothing in the company.
[02:29:17] We need to keep public operations under strict
[02:29:21] supervision. We need to make regulations regarding public offering rates.
[02:29:24] The amount bought and sold in the free float market
[02:29:28] is what's in the latest regulation. These funds, they brought
[02:29:32] restrictions on how much free float they can acquire and such,
[02:29:35] regulations after the fact. Look,
[02:29:39] there is political responsibility here, let's call it
[02:29:42] clearly. There is political responsibility and what
[02:29:45] Uğur Yılmaz wrote is very true, as a journalist,
[02:29:49] I asked. He says, I was curious, how can you do these things?
[02:29:53] Now, a journalist is curious, as a university professor, I am curious,
[02:29:56] Öner Hoca is curious,
[02:30:00] the experts on this issue, what is being talked about in the markets
[02:30:03] has become visible these days, what they said a few months ago,
[02:30:07] they are talking, but the political institution
[02:30:10] acts as if it doesn't know about these events, Capital, I apologize, the Capital Markets
[02:30:14] Board, with a typical public approach, says we
[02:30:18] wrote to such and such a place. But everything happens in writing, you know, when
[02:30:22] they say "we wrote," the responsibility ends. Until a reply comes, or even in the past,
[02:30:26] I remember ministers even make statements saying "we wrote about the issue."
[02:30:29] It's not about writing, you have to intervene, you have to do something.
[02:30:33] Political responsibility, first and foremost, I would like to state that
[02:30:37] there is political responsibility. Politicians can very
[02:30:41] easily prevent these things from happening. Secondly, there are institutional
[02:30:44] responsibilities. Since it's an investment bank, one of them is an investment bank, the BDDK's responsibility,
[02:30:48] non-participation, etc., those places should look into it. Since it's a capital market
[02:30:52] transaction, the transactions made on the stock exchange or fund transactions
[02:30:55] should directly be within the Capital Markets Board's scope of responsibility.
[02:30:59] It should have been within these areas of responsibility.
[02:31:03] even if desired, things were done and we unfortunately
[02:31:06] see a result that has caused hundreds of thousands
[02:31:09] of citizens to be victimized. Let me tell you this,
[02:31:13] the liquidation process started yesterday. The regulation
[02:31:16] on this was announced.
[02:31:19] Yes, the method was announced.
[02:31:22] This liquidation process should not be limited
[02:31:26] to the values of the assets existing in the fund. I am explicitly stating
[02:31:30] that it is not limited to the fund managers,
[02:31:32] or those on the board of directors, or those who made
[02:31:36] a lot of money from this fund in the past. I repeat,
[02:31:39] it is not limited to just the fund managers
[02:31:42] or those on the fund's board of directors. We need to look
[02:31:46] at all past transactions and those who multiplied
[02:31:49] their money by 5x, 10x, 20x, 50x in this market jargon,
[02:31:52] those who turned their money into 10, 50, 100 times, whoever they are,
[02:31:56] all their records are in the system. They should be called
[02:31:59] and told, "brother," and a bill should be issued to them.
[02:32:03] This is not something that happens by accident. You cannot look at a citizen
[02:32:07] who entered this system with 10,000 liras (meaning, who bought shares from these funds)
[02:32:10] and say, "You tried to manipulate this and benefit
[02:32:14] from it." Who do you look at?
[02:32:17] You need to look at
[02:32:19] those who took big slices from the big pie.
[02:32:23] These damages should not be recovered only by liquidating the fund's
[02:32:27] existing assets and distributing the values that emerge
[02:32:30] from that. In the past...
[02:32:32] "The accountability for this must be sought from
[02:32:35] all those who made huge money from this system, not only
[02:32:39] in a criminal sense, but financially
[02:32:42] as well."
[02:32:44] There are examples of this in the world. This
[02:32:48] is the Madoff story in America, you know. They look back in time.
[02:32:52] It's a pyramid scheme. Whoever made a lot of money,
[02:32:55] they tell them, "You made a lot of money from this at the time, now give some of it back
[02:32:59] to compensate the victims' losses." Therefore, if we
[02:33:03] don't do this, let's say
[02:33:06] you got arrested, spent a year in jail, and earned a billion dollars. Now,
[02:33:10] let's ask on screen, how many people would want to spend
[02:33:13] a year in jail for a billion dollars? I guess half of the country's population
[02:33:16] would raise their hands, professor. A very short time.
[02:33:19] Sir, it's even lower. What I mean to say is,
[02:33:23] we shouldn't get into matters like "we kept them for 3 months, then released them,
[02:33:26] and the capital market law doesn't allow for longer prison sentences."
[02:33:30] We shouldn't go into these things. Financially,
[02:33:33] directly. I repeat,
[02:33:36] I'm talking about those who made big money.
[02:33:40] Yes, all their records are, as you asked earlier,
[02:33:43] in Takasbank, at the Central
[02:33:46] Registry Agency. So they are officially
[02:33:50] everywhere. We need to apply the American system.
[02:33:53] Apparently, when you don't create a financial cost, things
[02:33:57] like 3 months in prison, 5 months of prohibition, 6 months of being unable to trade on the stock market
[02:34:00] don't work. Exactly, professor, who is negligent
[02:34:04] or who failed to do their job, I want to make this issue a bit more concrete.
[02:34:08] Actually, a fund
[02:34:11] is a stock basket, isn't it? We know
[02:34:15] that correctly. Let me
[02:34:18] say, if you allow, it's not just a stock.
[02:34:21] A fund means that investment funds are very
[02:34:25] popular instruments, and they exist all over the world. There are also
[02:34:28] regulations concerning them. If you look at their essence, you'll see this:
[02:34:32] The rule-maker, the regulator, says that small
[02:34:36] savers, those with 10,000 liras, 100,000 liras, 50,000
[02:34:39] liras, whatever, they might find it difficult to do these things
[02:34:42] on their own, they might not have time, they might not understand the system, etc.
[02:34:46] Let's collect these into a common pool. That's what a fund
[02:34:50] is. And let there be professionals at the helm,
[02:34:53] meaning people whose job it is to buy and sell, who follow the markets,
[02:34:57] the economy, the world, etc. This large amount created
[02:35:00] by collected small
[02:35:03] monies should be managed, money should be earned, and this should
[02:35:06] be distributed. Actually, when we look at the essence of this investment fund,
[02:35:09] the system is not a bad system.
[02:35:13] Yes, in our country, again, I apologize, because I find
[02:35:16] it valuable for this issue to be understood, in the past,
[02:35:19] investment funds were in two groups, there were A-type
[02:35:23] and B-type investment funds. Everyone knew them. A-type
[02:35:26] included stocks, but even there, stocks would not be 100%.
[02:35:30] There would also be
[02:35:32] government bonds and such. B-type only consisted of government
[02:35:36] bonds, bills, and similar debt instruments.
[02:35:39] I estimate that a large majority of
[02:35:43] our viewers watching on screen have, in the past,
[02:35:46] held their money not in deposits but in these funds, like liquid
[02:35:49] funds, etc. You can buy and sell 24 hours a day,
[02:35:53] and you can get whatever the 3-day return is.
[02:35:57] However, over time, now,
[02:36:00] instruments have diversified, fund definitions have become very different,
[02:36:04] and the things funds can do have become strange.
[02:36:08] What they are doing is not legal, let me also say that. There are serious
[02:36:11] problems with lending stocks into liquid funds, etc.
[02:36:15] But essentially, normally,
[02:36:18] when you look at it, a fund is not a bad thing. Okay,
[02:36:22] it's not bad, but I want to ask this:
[02:36:25] now, big banks also have funds, don't they? Banks like
[02:36:29] Tera also have funds. I won't name the banks.
[02:36:32] However, they provide an increase a little
[02:36:35] more than the inflation rate. Here, it goes
[02:36:38] from 1 to 1000. So there must be something
[02:36:42] rising in this basket, which is why it's going 1 to 1000.
[02:36:45] Those rising things, as far as I understand, are stocks going up.
[02:36:49] Isn't there speculation here? Isn't there manipulation?
[02:36:53] I just tried to explain how the SPK didn't notice
[02:36:56] these stocks and how their value increased.
[02:36:59] Yes, the public offering rate is 30%, but
[02:37:03] 25% of it is already in the fund's vault.
[02:37:06] In the end, you're doing this by manipulating
[02:37:09] the prices of the remaining five as if you bought them from the market.
[02:37:12] Yes, you say, "I have this many shares, the price is
[02:37:16] 5.0, multiply by my fund's value," etc. Yes,
[02:37:20] saying, "Brother, you believe the pot
[02:37:23] gave birth, why don't you believe it died?"
[02:37:26] and dragging the issue to a point where
[02:37:30] small investors are criticized
[02:37:32] is not very fair, because that small
[02:37:36] investor is an unprotected person. They don't know,
[02:37:39] they don't do anything. There are institutions that should protect them, there are
[02:37:43] regulations. To what extent can they functionally
[02:37:46] fulfill this? Professor Öner also draws attention to this. But
[02:37:50] there's also something called MKK, brother. MKK,
[02:37:53] this structure has become popular recently,
[02:37:56] the Central Registry Agency,
[02:37:59] which ensures the safe storage and registration of capital
[02:38:02] market instruments in Turkey in an electronic environment.
[02:38:05] Is this institution part of SPK?
[02:38:09] The MKK has its own legal personality, but it is within the capital market.
[02:38:11] We talked earlier
[02:38:15] that Emre Tezman is the owner of Tera Investments.
[02:38:17] This man has been on the board
[02:38:21] of this MKK since August 3, 2023. Brother,
[02:38:25] it's perfectly normal. Is that what you're saying?
[02:38:28] At that time, he was probably the most successful
[02:38:32] businessman on the stock exchange. Probably, this reward
[02:38:35] was given based on his success.
[02:38:38] Can it be done now? Now,
[02:38:41] I'm saying this as a joke,
[02:38:45] but given that this person
[02:38:48] was allowed to conduct business
[02:38:50] and bring these matters
[02:38:54] to this level, which is a bigger
[02:38:58] event, his being at the head of
[02:39:01] the MKK or on its board seems perfectly
[02:39:04] normal to me. But I said
[02:39:08] this issue at the very beginning.
[02:39:11] I don't want to focus on the personal
[02:39:15] aspect of the event, those individuals
[02:39:18] have a special role today,
[02:39:21] but we have problems with the system. Look,
[02:39:25] this is not just about interfering with the SPK chairman
[02:39:28] or anyone else, or holding them responsible
[02:39:31] for this. Why couldn't they do their job? For example,
[02:39:35] the professor said the SPK chairman made a statement saying, "I wrote
[02:39:38] it." The SPK is not an institution that writes
[02:39:42] letters. When it sees this
[02:39:45] issue, it has measures it can take,
[02:39:48] right? It closes its operations. Why wasn't
[02:39:52] it done before? Right? Instead
[02:39:55] of writing, the legislator gave it certain powers,
[02:39:59] but they didn't use any of those powers.
[02:40:02] So they can't use them. The bureaucrat can't use them.
[02:40:05] Please, we are speaking very indirectly, or maybe we are speaking
[02:40:09] in veiled terms, but please do not overlook the current
[02:40:12] situation in Turkey. If there is a forest
[02:40:15] fire in the country, the Minister of Forests intervenes with the approval
[02:40:19] of our President. If there is an earthquake,
[02:40:23] they intervene with the approval of our President.
[02:40:26] Or look, they did not intervene in these funds with the
[02:40:30] approval of our President. This is interesting,
[02:40:33] because all bureaucrats, when using
[02:40:35] the powers given to them by a law, always start
[02:40:39] with this phrase, like a blessing.
[02:40:42] Now, let's put this aside.
[02:40:46] These are our problems with economic institutions. It's
[02:40:49] not just the SPK here. The Istanbul Stock Exchange,
[02:40:52] isn't it? It took shares and did what
[02:40:55] it wanted. Three to five people buy and sell
[02:40:58] five shares among themselves. They buy and sell, inflate them.
[02:41:02] It sees this and allows it. Whereas, when it
[02:41:05] sees this manipulation, these friends have the authority
[02:41:09] to intervene. The SPK sees it. Another problem
[02:41:12] is that this system needs a constant influx
[02:41:16] of resources to maintain continuity. Did undeclared
[02:41:19] money enter this system from outside
[02:41:22] the system? That's why
[02:41:25] those 14 people you mentioned, or whoever
[02:41:29] made money, whoever attempted to launder money
[02:41:32] or laundered it, right? Because
[02:41:36] there are also some allegations in that direction.
[02:41:40] It is said that these portfolios
[02:41:43] were used as a money laundering system.
[02:41:46] Or some of
[02:41:49] these companies
[02:41:51] have savings funds, for housing, cars, etc.
[02:41:55] It is not possible to provide
[02:42:04] money and support to such portfolios
[02:42:08] according to the law and the latest regulations.
[02:42:11] Was such a thing done? Another thing is repo
[02:42:15] transactions. Where does this person do
[02:42:18] repo? Right? He gives his own shares,
[02:42:22] this defective good we mentioned. Someone
[02:42:25] accepts that defective good as collateral.
[02:42:29] Who are the institutions or organizations that
[02:42:32] accept it as collateral? Don't they have any responsibility? How
[02:42:35] can this be? You, me, everyone knows
[02:42:39] one thing: there is manipulation. Everyone
[02:42:42] knows. But people accept
[02:42:45] these manipulated values
[02:42:48] as collateral. And no one comes out and says, "Brother,
[02:42:52] when I sell this, if you couldn't provide the collateral, if you couldn't pay the money,
[02:42:56] I can't sell it at this value." "Mr. Mehmet issues a circular,
[02:42:59] if this falls,
[02:43:01] I can only get 15% of the money
[02:43:05] I gave from here. There is no one who says this.
[02:43:08] They have done this and ensured the sustainability
[02:43:12] of the system with these. Therefore, this
[02:43:15] is not just one problem, and it's not something
[02:43:19] that can be blamed on a single person
[02:43:22] or institution. There's a serious systemic problem here. The system
[02:43:25] hasn't worked."
[02:43:28] "We have another institutional flaw. We had
[02:43:32] a banking law, after the 2001
[02:43:35] crisis, if I remember correctly, it was
[02:43:39] enacted. It is quite strict, because we experienced a banking
[02:43:42] crisis, and because banks are reputable
[02:43:45] financial institutions in our banking
[02:43:49] law, because they are built on reputation, they are under
[02:43:52] serious protection. And I cannot target
[02:43:56] banks here or make any news
[02:43:59] or statements about them. In your programs, you say
[02:44:03] that this bank is not a recommendation,
[02:44:07] it's not an investment recommendation, etc.
[02:44:10] There is such a sensitivity.
[02:44:13] For example, when news about this institution, this
[02:44:16] gentleman, and his institution is made,
[02:44:19] this friend can go to courts
[02:44:22] and, citing this law, say that his reputation
[02:44:25] is being damaged. "Look, I'm talking about
[02:44:28] the problem in the implementation of the law,
[02:44:32] and people can be unjustly thrown
[02:44:34] in jail, sentenced. They might have been
[02:44:38] acquitted later, but you can hold people
[02:44:41] with travel bans and house
[02:44:44] arrest. This is a punishment. Therefore,
[02:44:48] these people's systematic
[02:44:51] organizational behavior has such a side effect. Therefore,
[02:44:54] we need to go after them. Another thing:
[02:44:58] I think the most important issue, I always want to address
[02:45:02] the issue through the system. If there is no press freedom
[02:45:05] in a country, if the press cannot do its job,
[02:45:08] how will citizens be informed about what is being done? How
[02:45:12] will small investors be informed? The SPK did not do its job,
[02:45:16] the IMKB did not do its job, the BDDK did not do its job.
[02:45:20] Am I, as a small saver, as a citizen
[02:45:23] of the Republic of Turkey, supposed to investigate this?
[02:45:27] Is it my responsibility? Why does the press
[02:45:30] exist? Mr. Ersin, why are you
[02:45:34] here? Right? At the core of
[02:45:37] these news reports lies such a thing.
[02:45:41] Therefore, in a place where the press is not free,
[02:45:44] you also cut the bridge between these shortcomings
[02:45:47] and the citizens. This is another one of our shortcomings,
[02:45:51] a systemic shortcoming. That's why, as long as this system
[02:45:54] doesn't change, as long as you leave
[02:45:57] this system as it is, believe me,
[02:46:01] I'm not speculating at all, we've seen it
[02:46:04] in the past, we have enough experience in Turkey
[02:46:07] regarding these issues, new crises will happen
[02:46:11] in Turkey. If you
[02:46:14] distort information, if you
[02:46:16] hinder the flow of information between
[02:46:20] institutions and individuals, then there will be disruptions in the markets,
[02:46:24] and those disruptions will lead to manipulation.
[02:46:27] Manipulations then create social
[02:46:31] financial costs like this. I'm not saying this,
[02:46:33] our work, theory says this,
[02:46:36] financial economics says this, economic theory says this.
[02:46:48] you will recognize them properly, you can get their opinions,
[02:46:51] you meet their needs, and from what I
[02:46:54] can see, the legislator in Turkey,
[02:46:57] regarding these issues, may not be
[02:47:01] sufficient, but has put in place mechanisms
[02:47:04] to prevent them. But most importantly, you must ensure
[02:47:07] press freedom. Look, this friend,
[02:47:16] also wrote this article, they have written a very good
[02:47:19] assessment, with our Karakaya.
[02:47:21] That friend, Kerim
[02:47:25] Karakaya, was also a colleague working
[02:47:29] at Bloomberg Turkey. Let me tell you his past
[02:47:32] because it's related to the topic. Was it 2018 or something
[02:47:35] when the value of the Turkish lira
[02:47:38] was expected to increase more than expected?
[02:47:42] Because he reported that it would increase
[02:47:45] more, he got into trouble. Then he went to London
[02:47:48] and tried to continue his journalism activities.
[02:47:52] Can you imagine? And what he said happened.
[02:47:56] Is it the group that said the dollar would be 10 lira? Yes,
[02:48:00] this friend also suffered a punishment like
[02:48:03] this, with representatives of the government. And now
[02:48:06] he's doing this in London because here he was
[02:48:10] left to investigation. Can you imagine what
[02:48:13] a journalist goes through because of a financial
[02:48:17] news report? I want to add something
[02:48:21] about the press side, to the examples you gave. Now, Professor Öner
[02:48:24] is very right, by press independence, he means they should report on these issues,
[02:48:28] inform the citizens, etc. But in this process, we saw
[02:48:32] that the press was actually one of the most
[02:48:35] important pillars of this system.
[02:48:38] I mean, maybe it didn't catch our attention then, or
[02:48:42] it wasn't news in the places I read or followed, but
[02:48:45] now we see that their successes were written about like a champion's
[02:48:48] serial. Even in Sabah newspaper, foreign Timothy
[02:48:52] Action asks today, "Where is Sabah newspaper in all this?"
[02:48:56] because there are pages and pages of news explaining how successfully this system
[02:48:59] worked, etc. Through social media accounts, through influential accounts,
[02:49:03] how successfully and well these worked
[02:49:06] was explained. Therefore, the press side,
[02:49:10] your desired independent and truth-revealing
[02:49:13] structure, rather than
[02:49:17] that, in this process, some
[02:49:19] active part of the press (I'm not referring to the entire
[02:49:23] press) has become an active player in the transfer
[02:49:26] of income from these funds. Therefore,
[02:49:29] we have been talking about the SPK, Borsa İstanbul,
[02:49:33] etc. until now, but let me state that
[02:49:36] the press also has a part in this. We can say
[02:49:40] a part of the press, or a large part of it, and our
[02:49:44] viewers surely understand what I'm referring to.
[02:49:47] I will stand up, friends. I will ask for Şamil
[02:49:51] Tayyar. I think Professor
[02:49:54] Öner is saying his tweet where he blamed the CHP.
[02:49:58] I'll check it. Professor, he says, if institutions
[02:50:01] are not functional, these things happen to us.
[02:50:04] This is something I emphasize a lot in my lectures: when
[02:50:07] you invalidate the critical function of the public
[02:50:11] sphere, then social reform will not happen, and then
[02:50:14] the impact of journalism will not emerge sufficiently.
[02:50:17] Now, this gentleman,
[02:50:20] I couldn't quite figure out this publication.
[02:50:23] "A leader shaping the future of finance,"
[02:50:26] Emre Tezmen looks very cool here.
[02:50:29] He posed like this. He's currently
[02:50:33] under arrest, being questioned. When I see this pose,
[02:50:36] I get scared. Why?
[02:50:41] He might go bankrupt in the future. Yes, there is a potential
[02:50:44] for bankruptcy in the future. What potential? Bankruptcy potential.
[02:50:47] Ah, so when this magazine
[02:50:50] came out with this issue and you saw it, you said,
[02:50:53] "Oh no!" Okay. Now, Şamil Tayyar, a name close to
[02:50:57] the government, says, "The fund crisis that shook Turkey cannot
[02:51:01] be simplified or underestimated by saying it's 10% of total funds.
[02:51:04] In 130 funds whose operations were halted, 830 billion liras
[02:51:07] evaporated. It is the biggest financial fraud
[02:51:10] in recent history.
[02:51:12] Now, the king who shaped the future
[02:51:15] of the collapsed fund system, Emre Tezmen, why is he
[02:51:18] out? It says he was out when he wrote this, right? Ersin Eroğlu, yes, and it says why
[02:51:22] weren't his assets seized? It says while suspects' assets are seized in more ordinary
[02:51:26] operations, why wasn't the same courage shown in the fund crisis? Frankly,
[02:51:30] all assets of the owners of the collapsed fund companies should be seized.
[02:51:34] All those responsible for the crisis should be held accountable. As you can
[02:51:37] see, in the pro-government media...
[02:51:40] uh, pro-government figures are also after this
[02:51:43] but I would like to ask my teacher Kayıhan,
[02:51:47] teacher Kayahan, pro-government figures and journalists are
[02:51:50] after this, but... are they after the right place? Are they
[02:51:54] trying to catch the right tail? What do
[02:51:56] you think?
[02:51:58] Now, holding only fund managers or company
[02:52:02] owners responsible for this
[02:52:04] crisis is unacceptable, because, as our esteemed
[02:52:08] economist teachers have especially emphasized
[02:52:11] since the beginning of the program,
[02:52:14] such a large transfer of resources
[02:52:17] without the knowledge of the government, politicians,
[02:52:20] and decision-makers is not possible. That's the point, so if anything
[02:52:24] is done through only fund managers, as my teacher Yalçın
[02:52:28] just said, "we invested for 3 months, we invested for 6 months, what happened
[02:52:32] to the money that went away?" There's talk of a resource transfer of over 20 billion
[02:52:35] dollars, this is unacceptable. I agree with what Mr. Şamil
[02:52:39] said, all those responsible should be held accountable, but
[02:52:42] all those responsible, meaning politicians, decision-makers,
[02:52:46] whoever, because look, it hasn't been discussed until now,
[02:52:49] but Mr. Ahat's "example from the past"... It's known
[02:52:53] that politicians and some decision-makers
[02:52:56] are involved in similar crises he has brought up until now.
[02:52:59] In fact, today there are even claims
[02:53:01] that some MPs experienced such
[02:53:05] problems in the past and are now avoiding
[02:53:08] accountability by donning the armor of immunity.
[02:53:12] Therefore, it's a multi-dimensional process. It's not
[02:53:15] just this event, it's about all
[02:53:17] such events. A comprehensive investigation
[02:53:20] should be opened and whoever is involved,
[02:53:24] at the decision-maker level, at the politician
[02:53:27] level, at the capital group level, should be held accountable
[02:53:30] and the transferred funds should be taken from them. There are
[02:53:34] over 500,000 people, but according to one source, there are higher
[02:53:38] numbers. The figure brought up so far is 500,000. There are
[02:53:41] also some claims that this could reach 1 million.
[02:53:45] Therefore, it is absolutely vital to establish a mechanism
[02:53:48] that will cover a significant portion of the losses
[02:53:51] of these individuals. So, will the AKP government do this?
[02:53:54] I mean, we will see this, we will push
[02:53:58] for it, but the AKP government's track record
[02:54:02] in terms of compensating those who have suffered
[02:54:05] these losses, frankly, is not very promising.
[02:54:08] Yes. Mr. Ahat, what do
[02:54:10] you say? Now, uh,
[02:54:13] the issue has been thoroughly illuminated thanks to our two
[02:54:17] on these matters, we have been enlightened on these matters.
[02:54:20] I mean, they really made very detailed,
[02:54:24] broad assessments. Now,
[02:54:28] of course, I personally agree
[02:54:31] with the system issue that our teacher Önel
[02:54:34] has been expressing from the beginning.
[02:54:37] And from the beginning, we have been of the opinion
[02:54:40] that the system is not working anymore
[02:54:44] and is stuck in every area
[02:54:47] within the country's
[02:54:50] administrative format, not just economic matters.
[02:54:53] Now, you just showed on the screen,
[02:54:57] regarding the person named Emre Tezmen and Vetera,
[02:55:00] Thera Holding or whatever its name is, is it a portfolio
[02:55:04] company? Regarding that,
[02:55:07] the former
[02:55:11] Deputy Head of MASAK
[02:55:13] was it?
[02:55:15] Was he the Deputy Head of MASAK? If I remember correctly,
[02:55:19] he informed the public twice
[02:55:22] that there was serious
[02:55:25] corruption in this fund, and that it should be investigated.
[02:55:28] And he was arrested, taken into custody, taken
[02:55:32] into custody. Now, where there is
[02:55:36] such a position, let alone those who understand
[02:55:40] and know this issue, as you showed in the slide just now,
[02:55:43] what does the man say? "Nobody dares to ask questions,"
[02:55:47] meaning, "Who is behind this holding? Or
[02:55:50] who is behind this Tera?" It says, "They were strongly
[02:55:53] avoiding making any criticism about Tera, nobody
[02:55:57] was bringing it up." So, he's talking about an atmosphere like "touch
[02:56:00] and you burn." At its core, at its core, there is this too,
[02:56:04] at its core, there is this. Now,
[02:56:07] institutional officials who are active,
[02:56:11] everyone you can think of from the CMB,
[02:56:14] even if they saw certain corruptions
[02:56:18] or irregularities or, well,
[02:56:21] whatever... thefts in their areas of responsibility,
[02:56:24] they are reluctant to pursue some
[02:56:28] sections of them. Why?
[02:56:31] Because their relationships
[02:56:33] especially with the current
[02:56:37] administration, they don't hesitate to go after them.
[02:56:40] Of course, when it comes to municipalities of the Republican People's Party,
[02:56:44] I didn't say they go after everything for opposition municipalities,
[02:56:47] I'm leaving that aside, or for the opposition, I'm leaving that
[02:56:50] aside, but for example, in this Tera case, they don't
[02:56:54] pursue it, because when they do,
[02:56:57] they don't know what kind of reaction they will get
[02:57:01] from the other side, and they don't have an idea
[02:57:04] about who might be behind
[02:57:08] it, supporting it, all the way up to the leadership,
[02:57:11] up to the highest echelons of the administration. They are
[02:57:15] afraid of that. I mean, one shouldn't
[02:57:19] see this as abnormal, I mean.
[02:57:22] But the people working in that institution should
[02:57:25] also take some risks and be able to pursue
[02:57:29] this. Remember the John Holding case,
[02:57:32] if I remember correctly, yes, it was about
[02:57:35] money laundering and such. He was taken into custody.
[02:57:39] Yes, the man is being interrogated. The man says,
[02:57:42] "Why did you buy Habertürk?" I'm summarizing, he
[02:57:46] says, "We bought it at the request of a senior
[02:57:50] statesman, at his recommendation."
[02:57:52] The questioning stops there, the interrogation
[02:57:55] stops there. Another time,
[02:57:58] another place, another company, I think Bilgi University.
[02:58:02] He says, "Why did you buy Bilgi University?" "At the request
[02:58:06] of a senior statesman." Who is this senior statesman,
[02:58:08] brother? It's clear that the man
[02:58:12] has no desire to invest in these,
[02:58:16] to buy these, but a senior statesman,
[02:58:20] whoever it is, says, "You will
[02:58:22] buy it." You will buy it.
[02:58:25] The man, considering what might happen
[02:58:29] to him if he doesn't fulfill the senior statesman's
[02:58:32] request, even though he has no interest in it,
[02:58:35] goes and tries to buy Bilgi University, or he faces
[02:58:38] the obligation to enter the press
[02:58:41] or the media, even though he has no interest
[02:58:45] in it. Now, the issue of the senior statesman is the crux
[02:58:48] of the matter. Regarding who that senior
[02:58:52] statesman is, drawing from this example,
[02:58:55] there are quite a number of such senior
[02:58:58] statesmen. In this Tera incident,
[02:59:02] it is also being discussed,
[02:59:06] just now, the person appointed to the board
[02:59:10] of directors for two months is like the Chief Advisor
[02:59:13] to the President. Now, in such a structure,
[02:59:16] where everything is connected to the Presidency,
[02:59:18] and the positive or negative
[02:59:21] attitude coming from the Presidency determines the future
[02:59:25] of the people who initiated this issue,
[02:59:28] in such an environment, it is impossible
[02:59:32] to solve the problem. Impossible
[02:59:35] to solve. Impossible. So, even if they know it will be
[02:59:39] for the public good, they cannot pursue it. Now, look, on the
[02:59:42] topic we just discussed, I have a note here, uh,
[02:59:46] in Borsa Istanbul's 2025 activity
[02:59:49] report, trading patterns are striking. It states that
[02:59:52] warnings were sent to brokerage
[02:59:56] firms about 217 investors found, and
[02:59:59] 99 information notes prepared about
[03:00:02] transactions suspected of being contrary
[03:00:05] to regulations were forwarded to the CMB.
[03:00:08] And again,
[03:00:11] in Mr. Mehmet Şimşek's speech
[03:00:15] in September of last year, or October, he
[03:00:18] himself states that the CMB
[03:00:22] brings it before the commission as a board, and the CMB
[03:00:26] says that there is manipulation in such and such a fund,
[03:00:29] here and there. The minister also comes out
[03:00:33] and states this. According to what he said, it means
[03:00:37] that the CMB, in a sense, normally has that legal
[03:00:41] authority. Does it have the authority to go after that fund? Yes,
[03:00:44] but it doesn't. Why? Because it doesn't know who is behind
[03:00:47] that fund, which senior statesman. Now, the issue has
[03:00:50] come to this. I will never
[03:00:54] forget, one day there was a fire in Baltalimanı
[03:00:56] Hospital in Baltalimanı. For the fire,
[03:01:00] fire trucks came and so on. If I remember
[03:01:03] correctly, during that period, İbrahim
[03:01:06] Kalın, I think, when he was working at the Presidency,
[03:01:10] came and it might not have been İbrahim Kalın,
[03:01:14] I might be saying it wrong, but an official working
[03:01:17] at the Presidency says that with the directives
[03:01:21] of our President, intervention was made
[03:01:24] to extinguish this fire. He says. So,
[03:01:27] when the situation reached this point
[03:01:29] in Balıklırum Hospital,
[03:01:33] and the understanding reached this point, what's important here
[03:01:37] is that the President has nothing to do with this.
[03:01:40] But by stating this, two things
[03:01:43] are done: firstly, the intervention made,
[03:01:46] the people responsible for the intervention
[03:01:50] are, in a sense, putting themselves under the President's
[03:01:53] protection. But there's something more important:
[03:01:57] they are injecting into people's minds
[03:02:00] that nothing that should be done without the permission
[03:02:05] and support of the Presidency can be done.
[03:02:09] So, it's not such a simple matter.
[03:02:12] I mean, every minister coming out and stating
[03:02:16] it like this... Now, look at the psychology
[03:02:19] of the ordinary citizen who watches that, or
[03:02:22] an institutional official, a civil servant
[03:02:25] in such and such a place, the minister, now, look,
[03:02:29] in this, it says, "with the President's command
[03:02:33] and approval," doesn't it? The same thing.
[03:02:35] He internalizes it, and after that, the working
[03:02:39] channels of the system get clogged.
[03:02:42] The channels get clogged. That's why, teacher,
[03:02:45] you're absolutely right when you say that as long as the system
[03:02:49] doesn't change, we are faced with an administrative
[03:02:52] style that unfortunately doesn't take responsibility.
[03:02:55] Let's take a break and continue after the break.
[03:03:41] "Açıkça" continues, dear viewers.
[03:03:44] Now, there's a message that Ümit Özdağ
[03:03:49] prepared it in our 3rd visual.
[03:03:53] Let's bring up the 3rd visual, let's see how
[03:03:56] Ümit Özdağ, Izmir MP
[03:03:58] for the New Party, approaches this?
[03:04:02] Now, here we want to ask the Minister of Treasury and Finance,
[03:04:06] Mr. Mehmet Şimşek. In November 2025,
[03:04:09] you said, along with the then Head of the CMB, that there was
[03:04:13] manipulation in the funds and that you wouldn't allow it.
[03:04:16] Despite this, for a comprehensive intervention.
[03:04:20] If you had taken precautions 10 months ago, this financial
[03:04:23] wreckage, which would have been much smaller, has now reached
[03:04:26] enormous proportions. Mr. Şimşek, didn't you take
[03:04:29] the issue seriously enough? Did the institutions
[03:04:32] not do their job? Were there political
[03:04:35] or bureaucratic obstacles that you couldn't overcome?
[03:04:38] Or did you wait for politicians and bureaucrats,
[03:04:42] about whom there are serious doubts in the public
[03:04:45] regarding their high amounts of accumulated
[03:04:48] funds, to earn a little more and then exit the system safely?
[03:04:52] Mr. Ahat, aren't
[03:04:54] these all elephant-sized questions? These are very serious
[03:04:58] questions and questions that the public is curious about.
[03:05:02] It is not enough to list the names of the fund managers
[03:05:05] who carried out the transactions and take them into custody.
[03:05:09] Who gave the instructions? Who gained the benefit? Who
[03:05:13] established this mechanism, who protected it? Who turned
[03:05:16] a blind eye? Now, Fikret abi, these
[03:05:20] are the questions. Are these legitimate questions
[03:05:23] from the public's curiosity and for the public interest?
[03:05:26] Therefore, will someone answer these questions? For example,
[03:05:29] does Mehmet Şimşek need to make more explanations on this matter?
[03:05:33] Yes, very pertinent questions, teacher Özlü's questions,
[03:05:36] indeed, they are questions that need to be answered,
[03:05:40] and Mehmet Şimşek needs to answer these questions.
[03:05:43] Why did you wait for 10 months, where have you been for 10 months?
[03:05:47] Uh, as our teachers have also stated, both
[03:05:51] teacher Yalçın and teacher Öner, this is a systemic
[03:05:54] problem, Gökmen. I mean, Turkey's
[03:05:58] moving away from the principle of separation of powers,
[03:06:01] that is, from the principles of a democratic, secular, social
[03:06:05] rule of law state. That is, the legislative, executive,
[03:06:08] and judiciary must be independent. And there must be freedom
[03:06:11] of expression and the press so that we can speak
[03:06:15] of a democratic state of law. However,
[03:06:18] when we look at the reality, we see that the executive
[03:06:21] organ has become very strong, and we see that it can control
[03:06:25] the legislative and judicial organs de facto, and
[03:06:28] within this system, we also see that institutions
[03:06:31] that should be independent according to their founding laws
[03:06:35] and the constitution cannot act independently,
[03:06:39] such as the CMB, the BRSA, and
[03:06:42] other institutions.
[03:06:46] We also see that they are prevented from fulfilling
[03:06:50] their duties. Otherwise, when this incident came
[03:06:53] to light, the deputy head of the CMB, Ramazan Başak,
[03:06:57] had taken the necessary steps and
[03:07:00] informed the public with the necessary warnings.
[03:07:03] But what happened afterwards? He was taken
[03:07:06] into custody. So, if a high-ranking public official
[03:07:10] who does his job is taken into custody for doing his job,
[03:07:14] it is very clear that the system is not
[03:07:17] working. A few more examples... Now, in our Constitution,
[03:07:20] decisions of the Constitutional Court are binding
[03:07:23] on all real and legal persons
[03:07:27] and must be implemented immediately upon publication
[03:07:31] in the Official Gazette. But can this happen in practice?
[03:07:34] No. If the government doesn't like a Constitutional
[03:07:36] Court decision, it may not implement it.
[03:07:39] of this. It may not implement decisions
[03:07:43] of the European Court of Human Rights because
[03:07:46] it doesn't like them. So, we are talking about a system
[03:07:50] that applies the constitution when it suits them
[03:07:54] and doesn't when it doesn't. And within this system,
[03:07:57] it has become very clear that stock market transactions
[03:08:00] are not subject to supervision, that those who want
[03:08:03] to inspect are taken into custody, and that the responsible
[03:08:07] minister has done nothing for 10 months. Now, as Özdale
[03:08:11] asked, Mr. Mehmet Şimşek should answer these questions:
[03:08:15] Why wasn't intervention made, why was 10 months waited?
[03:08:18] Who earned money from this fund during this period,
[03:08:21] how much money, where did this money go, and why
[03:08:25] was this situation created? Now, over 500,000,
[03:08:28] over 500,000 of our citizens are victims of this transaction.
[03:08:32] According to recent news, this number could reach
[03:08:35] 1 million. Now, how will the losses of these citizens
[03:08:38] be compensated? We need to look into this, and
[03:08:41] who are the people who took this money,
[03:08:45] and where is this money? In monitoring systems,
[03:08:48] the money's trail is followed. But if this
[03:08:50] authority is not exercised, if the institution tasked
[03:08:54] with doing this is rendered dysfunctional, if it's blocked,
[03:08:57] then it's not correct to expect a result from
[03:09:01] this. It's only possible to talk about a company
[03:09:04] that was perhaps used and then discarded,
[03:09:08] and its owners. This investigation might have been initiated
[03:09:12] because those high-level people who earned a lot of money
[03:09:15] no longer needed them. Otherwise, this should
[03:09:19] have been started at least 10 months ago, and
[03:09:22] the occurrence of these losses should have been prevented.
[03:09:26] This means that an obstacle is being
[03:09:29] put in front of institutions doing their jobs.
[03:09:32] And these individuals in the institution,
[03:09:35] like Ramazan Başak, should
[03:09:38] object, but we don't see such an objection,
[03:09:42] because if he objects, even if he is legally
[03:09:46] right, even if he is exercising his authority,
[03:09:49] it's not clear where he will be assigned, or how he will be removed
[03:09:53] from duty. This is completely a systemic problem. For Turkey
[03:09:57] not to experience such problems, it needs to return
[03:10:00] to a democratic parliamentary system to fulfill
[03:10:04] the requirements of the constitution, and independent institutions
[03:10:08] must truly be able to work independently. Freedom
[03:10:11] of expression must really be exercised, and freedom
[03:10:14] of the press must really be exercised. Therefore, this
[03:10:17] is a part of Turkey's general problem,
[03:10:20] these are natural problems caused by the system
[03:10:24] problem. The causes are known, but there is no government
[03:10:27] willing to solve them. On the contrary,
[03:10:30] that is content with this system
[03:10:34] that collects all powers in the executive organ.
[03:10:37] Therefore, only with a change of government can
[03:10:40] these illegal, unlawful practices be properly
[03:10:44] investigated and those responsible brought to justice.
[03:10:46] Otherwise, expecting this in this system is not realistic
[03:10:50] at all. And when a change
[03:10:53] of government happens, the biggest goal of the change
[03:10:56] of government should be to return Turkey to a parliamentary
[03:11:00] system, to regain its rule of law quality, and to implement
[03:11:03] the principle of the rule of law, I can say, Gökmen.
[03:11:07] Okay, Ersin Eroğlu, we just saw Şamil Tayyar's tweet.
[03:11:10] approve tweet, I mean, Şamil Tayyar
[03:11:14] has been consistently pursuing this for a few days.
[03:11:17] Şamil Tayyar is a former AKP MP and a journalist.
[03:11:20] Other pro-government figures are also after
[03:11:23] this, but how do you observe it? How do you evaluate
[03:11:27] their way of pursuing this? Which
[03:11:30] side do you think they are after? Which side
[03:11:32] are they questioning? Is there anything you can say
[03:11:36] about which side they should be primarily questioning? I think there
[03:11:40] is a missing question in the criticisms coming
[03:11:43] from within the government regarding this issue, and that question is: In today's
[03:11:47] Turkey, after 2017,
[03:11:49] where everything is tied to one
[03:11:52] place, where all power
[03:11:55] is gathered in Beştepe, where there is unity of powers,
[03:12:00] in this equation where even the director
[03:12:03] of agriculture in Çemişgezek is appointed
[03:12:07] by Mr. Erdoğan, can someone
[03:12:10] establish a fund company, a portfolio company, and manage
[03:12:14] billions of dollars within
[03:12:17] 1.5 years? I mean, what I'm trying
[03:12:20] to say is, the part that Şamil Tayyar
[03:12:24] probably left out is this: Was there someone
[03:12:27] behind this name, this person? Was he protected
[03:12:31] by someone while making manipulative
[03:12:35] moves? If so, who were the protectors?
[03:12:38] I think this question is missing, because
[03:12:42] unfortunately, until now, the issue has always
[03:12:46] remained here. We have been seeing operations
[03:12:50] like this for the past year, since November
[03:12:52] 2025. Operations are being carried
[03:12:55] out against various groups known to be close to the government.
[03:12:59] Uh, perhaps these
[03:13:02] are reflections of a power struggle within the government,
[03:13:06] or perhaps there are different reasons,
[03:13:09] but these operations always end up here.
[03:13:12] For example, John Holding is seized,
[03:13:16] and as a result of this operation,
[03:13:19] a trustee is appointed to 121 companies.
[03:13:22] 3-4 people from the company are taken
[03:13:25] into custody and arrested. Uh, we saw it in Papara,
[03:13:29] we saw it in Payfix, we saw it in the arrest
[03:13:32] and detention of some popular figures close to the government.
[03:13:36] However, this remained missing:
[03:13:39] Who was the senior statesman?
[03:13:42] As I said earlier, in today's
[03:13:46] administrative equation,
[03:13:48] would you find it convincing if I told you
[03:13:52] that someone wanted to enter
[03:13:55] the media, entered and bought
[03:13:58] a large media group in Turkey,
[03:14:01] and the Competition Board approved it?
[03:14:05] I mean, they don't even give frequencies,
[03:14:07] RTÜK doesn't
[03:14:09] changes in channel names. Let
[03:14:13] alone the change of ownership of one of the largest
[03:14:16] media groups in Turkey,
[03:14:19] if there is a change of ownership here, and everyone
[03:14:22] knows how another media group changed hands in 2017,
[03:14:25] I think, then it must be as
[03:14:29] Kemal Can, the chairman of the board
[03:14:32] of John Holding, said in his statement:
[03:14:36] someone told them to buy it, they bought
[03:14:39] it, and then a power struggle ensued. But
[03:14:44] not only Şamil Tayyar, but also in the judicial
[03:14:47] bureaucracy, these questions
[03:14:50] are probably not sought
[03:14:52] if you had managed it, my dear minister,
[03:14:55] after giving that answer, a
[03:14:59] great statesman told me to take it, and I took it,
[03:15:02] he said. If the person
[03:15:05] who gave the statement said that, you would ask
[03:15:08] who it was next, and we would read it, but there is a break there.
[03:15:12] I am really curious
[03:15:15] if that will happen here too.
[03:15:18] I mean, did someone help
[03:15:21] Emre Tezmen's Terra management,
[03:15:24] did someone open the way for them, did someone protect them?
[03:15:28] If so, will it extend to names? However,
[03:15:32] our practice
[03:15:35] in the past year shows that
[03:15:38] an announcement was made that judicial action was taken
[03:15:41] against 51 people. Mr. Minister, 4 people
[03:15:44] were arrested yesterday, and today 5 people
[03:15:47] were detained. This is the scope of the operation, meaning
[03:15:51] or
[03:15:55] will it only be limited to the owners
[03:15:59] and managers of these fund companies? We will see this
[03:16:03] in the coming days. I mean, regarding Şamil Tayyar's
[03:16:06] statements, I have an addition or
[03:16:10] an objection. Or there is
[03:16:13] such an open area, and this is what needs to be addressed, because
[03:16:17] only then can we understand what happened,
[03:16:20] and then we can see the background. Okay,
[03:16:24] now regarding this issue,
[03:16:28] there is a gentleman named Erik Meyerson,
[03:16:31] who also made a post. Erik Meerson, as we understand, is an important
[03:16:34] person, right? I mean, someone who closely follows
[03:16:38] the markets in Turkey and needs to be considered. Look,
[03:16:41] what does he say? Erik Meerson, friends,
[03:16:45] were you able to find his number, or should I check? He is also someone
[03:16:49] who drew public attention to the anomalies
[03:16:53] in voter behavior in the presidential referendum.
[03:16:56] Did you find it? Okay, now,
[03:17:00] look, what does he say? Let's first state his
[03:17:03] title. He is
[03:17:06] the chief strategist for emerging markets
[03:17:09] at Sebin, a Swedish-based financial services
[03:17:13] group. Well, we are one of those emerging markets as Turkey.
[03:17:17] So why do
[03:17:19] we observe large ownership control
[03:17:23] and deeper stock markets in Turkey?
[03:17:26] We don't observe them. Yalçın Hodja, I will ask for the translation of this. This is Turkish,
[03:17:30] but we need another translation, I will ask you for it.
[03:17:33] Is the reason that
[03:17:36] the state wants to control the concentration of ownership
[03:17:40] in a local business elite?
[03:17:44] Or is it institutionalized, weak minority investor
[03:17:47] protection, creating a very large price
[03:17:51] discount that block owners do not want to dilute? In
[03:17:55] both cases, this seems
[03:17:57] to me to be related to Turkey's widespread institutional
[03:18:01] problem, and abandoning institutional reform
[03:18:04] undoubtedly means accepting vulnerability to extreme
[03:18:07] volatility and market shocks that will follow.
[03:18:09] What does he say? Actually,
[03:18:11] what I said, I tried to express in the
[03:18:15] previous segment. Let's read the first sentence. We do not observe
[03:18:19] ownership control and deeper stock markets. Why
[03:18:22] is the public offering rate low?
[03:18:25] He says, why is it still controlled
[03:18:29] by a limited number of people? The
[03:18:31] implication here is that it's easy for
[03:18:34] those in power to control or intervene with a limited
[03:18:37] number of people, otherwise, if 80%
[03:18:41] of the company were publicly traded, with hundreds of thousands of investors,
[03:18:45] your chances of interfering in politics would be limited. What he
[03:18:49] means here is actually what I expressed in my first
[03:18:53] previous segment. That is, if we don't increase the public offering
[03:18:56] rate of these companies,
[03:19:50] of the Capital Markets Board at that time. So what kind
[03:19:53] of system was established for public offerings
[03:19:57] at that time? I mean, I know from publicly available information,
[03:20:00] not because I know something else. At that time, an office was established,
[03:20:04] and those who wanted to go public would go to this office before going to the SPK,
[03:20:07] the claims were in that direction at that time,
[03:20:11] large amounts of money were paid, public offering approval was issued by the SPK,
[03:20:15] it was offered to the public, money was collected,
[03:20:18] and so on. We forgot about this. Already a businesswoman, I guess,
[03:20:21] uncovered the matter, and she also paid money,
[03:20:28] and now,
[03:20:30] what happened? Was any action taken against the SPK
[03:20:34] chairman of that period? Was action taken against that deputy? This is just
[03:20:38] - I say just not because he is innocent -
[03:20:41] action was taken against Ünsalban, but I don't know if he is inside or outside.
[03:20:44] However, the figures discussed, I know
[03:20:48] they exceeded that. Millions of dollars were being discussed,
[03:20:51] such as farms, hotels, yachts, and so on. While we
[03:20:55] have been racking our brains here for 3
[03:20:58] hours on how someone with 10 thousand lira can be protected,
[03:21:01] on the other hand, the groups whose
[03:21:05] relationship with the political institution we consider,
[03:21:08] give each other figures that we are not even used to hearing.
[03:21:11] They acquire assets, and nothing happens as a result. Now,
[03:21:15] probably in a few months, something else will happen
[03:21:19] in Turkey, another agenda item, and in between,
[03:21:22] this will also disappear from the agenda, like how much money the Terra
[03:21:26] people got or didn't get. Therefore, one of the points where I agree
[03:21:30] with Professor Öner is that we need to somehow
[03:21:34] intervene in this system, otherwise, in the future,
[03:21:37] we may face more cases. I even remember
[03:21:40] there were videos published at that time, was it a mafia member
[03:21:43] from abroad? Someone like Sedat Peker was giving
[03:21:46] an address, saying, "Go to such and such an address,
[03:21:50] there are two apartment flats across from each other, one has
[03:21:54] so many million dollars in cash, the other has whatever." What happened to all of them? Hocam,
[03:21:57] in that problem between the husband and wife, Sedat Peker was the case
[03:22:00] where the husband went with the search for a solution.
[03:22:03] Yes, that's right. But
[03:22:06] look, we are talking about an action
[03:22:10] where the capital market was used,
[03:22:12] public offering. This means that those who were
[03:22:16] technically unable to go public were able
[03:22:20] to access it by paying certain
[03:22:23] fees. What they achieved
[03:22:25] is what I have been trying
[03:22:27] to explain from the beginning: leaving their shares to a group
[03:22:31] of citizens, making a lot of money, and stepping aside. This
[03:22:35] is also happening in a different way now,
[03:22:38] but it's a similar event. The capital markets
[03:22:42] are being used by some people deliberately,
[03:22:45] and when I say capital markets, I don't mean just
[03:22:49] fund managers or anything like that. The sister of the person at the head of the institution
[03:22:53] was involved. The statement was also
[03:22:55] that she met in a coffee shop in Erzurum, etc. There were statements
[03:22:58] like, "Please provide us with facilities for public offerings," etc. It was said
[03:23:02] that Ünsalban had an office. I mean, if we search on Google now,
[03:23:06] we can find all of them. I'm trying to explain what I remember. Today,
[03:23:09] we are talking about Terra and Pusula. In 6 months,
[03:23:12] maybe we will be talking about something else, I don't know.
[03:23:16] I'm not making a prophecy, but what is truly sad
[03:23:19] is that nothing happens. I mean, no cost
[03:23:23] arises.
[03:23:27] I mean, Ali Fuat Taşkesen, the SPK executives of that period,
[03:23:31] I couldn't remember his name. I just googled it. I mean,
[03:23:34] I remembered his surname, but I couldn't remember his first name. When I searched, the first
[03:23:38] thing that came up was that he was someone
[03:23:41] who rose to the position of assistant general
[03:23:44] manager at Bank Asya. Those who deposited money in Bank Asya
[03:23:47] were jailed. Someone who came up to assistant
[03:23:51] general manager in Bank Asya, then came to the board of directors of Vakıfbank and Halkbank,
[03:23:54] and then became the chairman of the SPK. His name was mentioned
[03:23:57] in such strange affairs (I'm talking about the operations at the SPK, I'm talking about publicly available information).
[03:24:01] Those were the things being discussed at that time. Therefore,
[03:24:05] all of this is impossible to happen independently
[03:24:08] of the political institution. And these are
[03:24:12] recurring things. The form changes,
[03:24:16] the method changes a little, but the tools
[03:24:19] and mechanisms are somewhat similar. We experience these repeatedly,
[03:24:22] and nothing happens. Here, I believe the main
[03:24:26] party that needs to be held accountable is the political
[03:24:29] institution. The political institution must pay the price
[03:24:33] for this, both politically and legally. As long
[03:24:36] as that price is not paid, in another case in the future,
[03:24:39] you will probably invite us again and ask, "How did this mechanism work? Who did
[03:24:43] what?" and we will have to talk about those things. Therefore,
[03:24:46] we need to redesign this structure
[03:24:50] from scratch. When I say structure, I mean the appointment processes,
[03:24:54] the networks of relationships of the appointed people, etc. You see,
[03:24:57] members of one family are appointed to embassies, ministries, deputy
[03:25:01] ministries, etc. As if there are no other people in such a big country. The brother
[03:25:05] of a deputy is appointed to the head of an institution, someone else
[03:25:09] becomes something else, and so on. As long as we don't change
[03:25:12] these things, we will come together at certain intervals on your
[03:25:16] program in Turkey, and talk about the emerging problems. But
[03:25:20] in the end, the cost of this
[03:25:23] current operation is always borne
[03:25:26] by the citizen. I am really very sad. A man
[03:25:30] tweeted, "How will I pay my rent?" I saw
[03:25:33] another post, he says, "I'm saving 60%
[03:25:37] of my income." He says he hasn't bought shoes for two years,
[03:25:40] he hasn't bought shirts, he hasn't eaten out,
[03:25:44] because he wants to own a house. He built such a life. Now he says
[03:25:47] he has nothing left. We say that their protection
[03:25:51] is more important, and that all regulations
[03:25:54] and the system should be directed towards this. But
[03:25:57] unfortunately, as we can see from these
[03:26:00] examples, it is always a limited segment that is protected.
[03:26:04] They don't pay a price, they are not held accountable,
[03:26:08] neither politically nor legally are those
[03:26:11] at the head of these institutions held accountable. This needs
[03:26:15] to change. Okay, Professor Öner, Hakan
[03:26:18] Kara shared information about the possible
[03:26:21] economic impact of this issue in his tweet.
[03:26:24] He says that this event could
[03:26:28] slow down economic activity and growth
[03:26:31] through its asset and liquidity effect.
[03:26:34] Since inflationary pressures will decrease somewhat,
[03:26:37] we can say that the Central Bank's probability of cutting interest
[03:26:41] rates at the October meeting has increased. Under normal circumstances,
[03:26:44] this type of negative shock could have led to a 150-200 basis point
[03:26:48] interest rate cut. However, due to the risk of shifting to foreign
[03:26:52] currency and the concern of losing reserves,
[03:26:55] the Central Bank will prefer 100 basis points.
[03:26:58] Now that I've seen this, this came to my mind.
[03:27:02] From the beginning, the stock market experienced a terrible collapse that day. Everyone
[03:27:06] was very scared. Will there be more,
[03:27:08] or won't there? Whether it comes or not is
[03:27:12] another question. Also, will its dimensions affecting
[03:27:15] the economy emerge? Of course they will emerge.
[03:27:19] The phrase "inflation started to fall"
[03:27:22] does he mean this as a result of these developments,
[03:27:26] or does he refer to the general trend
[03:27:29] in inflation? I don't know, but
[03:27:32] he was a bit premature on that matter;
[03:27:36] we need to see this
[03:27:46] September inflation. Secondly, the government,
[03:27:49] or economic management, appears to be fighting
[03:27:53] inflation, but that's not its main goal. Financial
[03:27:56] stability, but these events show
[03:28:00] that there's no such thing. Therefore,
[03:28:03] according to me, we don't know the extent
[03:28:06] of public intervention right now. Damage
[03:28:10] assessment hasn't been fully done. There are
[03:28:13] approximate figures. After these figures emerge,
[03:28:17] it will be possible to measure its impact, but
[03:28:21] it will be negative, because it has been
[03:28:24] that way in the past. The growth rate will be negatively
[03:28:28] affected. We will see how inflation will go
[03:28:32] and how it will be affected, because if you notice,
[03:28:35] they have to increase liquidity in the market
[03:28:39] right now. If you restrict liquidity, it will spread
[03:28:42] to other places. I honestly don't
[03:28:45] really know if these types of things
[03:28:49] done in the market are done to calm the market
[03:28:52] or if they reflect the truth. I'm not
[03:28:55] very familiar with the figures, but we know
[03:28:59] that there will be undesirable consequences
[03:29:02] regarding growth. However, what Erik
[03:29:05] expressed earlier is true.
[03:29:08] Yes, there are important issues, of course. Erik
[03:29:11] probably knows Turkey very well at a macro
[03:29:15] level, but he doesn't know it closely. If
[03:29:19] he knew what we were talking about, he would answer those
[03:29:22] questions himself. Why is there no public
[03:29:26] transparency in Turkey? I wish there were, transparency is
[03:29:29] very important for institutionalization. Companies
[03:29:32] would be more institutional and more accountable.
[03:29:36] Therefore, avoiding accountability
[03:29:39] is also a tool to control
[03:29:42] their companies themselves. Literature says
[03:29:45] that if it were publicly traded and transparent,
[03:29:49] it would increase efficiency. There
[03:29:52] would be external interventions in management
[03:29:55] practices and external interventions
[03:29:58] in decisions, and this could increase
[03:30:02] efficiency. The expenses made by individuals
[03:30:05] and company practices would disappear. But then
[03:30:09] I say, "My friend, you have closed the country
[03:30:13] to the public. What does it matter if you open the company?"
[03:30:17] The country is closed to the public. The single man does what he wants.
[03:30:21] Like a closed company.
[03:30:24] Open the country to the public first.
[03:30:28] Democratize the country and
[03:30:31] make the institutions work. Remove
[03:30:33] them from the influence of politics. Then
[03:30:37] make these criticisms. That's why I think
[03:30:40] Erik's statements are unsubstantiated.
[03:30:43] The reality in Turkey
[03:30:45] doesn't allow it,
[03:30:50] I think. Apart from that, the
[03:30:54] macroeconomic consequences of this
[03:30:57] issue, the fiscal balances, budget
[03:31:00] balances, will affect
[03:31:04] the citizen. I wonder, now that the OVP
[03:31:07] has also been announced, there were very significant
[03:31:10] expenditure items in the OVP. We
[03:31:14] discussed these in this studio.
[03:31:16] Turkey was making very significant interest
[03:31:20] payments, wasn't it? Interest payments accounted for around
[03:31:24] 15-16% of the budget. Thank God we got rid of KKM,
[03:31:27] but what remains from KKM
[03:31:31] is the interest. Now, on top
[03:31:34] of these mistakes I mentioned at the beginning,
[03:31:37] these costs will be added. I would like to draw
[03:31:41] attention to another issue in this regard. For example,
[03:31:45] during these liquidation processes, certain costs will arise,
[03:31:48] both for the public and for the citizens. You are talking
[03:31:52] about small savers. For example, in the statement
[03:31:56] made by the New SPK regarding this liquidation
[03:31:59] process and published to the public,
[03:32:02] it says that the administrative
[03:32:05] expenses of this liquidation process will be covered by the investor.
[03:32:09] As far as I know, these are commissions, right? Terra also did that,
[03:32:12] it was taken as a percentage of the value. Now,
[03:32:16] on what value will it be taken? For example, İşbank or Ziraat
[03:32:20] Bank will charge small or large
[03:32:23] investors a transaction fee during this process.
[03:32:27] So citizens will pay these too. From
[03:32:30] what value will you calculate this? You don't
[03:32:33] know the value of the person's money, you don't
[03:32:37] know what you will pay. And there are too
[03:32:41] many such uncertainties. Why did I say this?
[03:32:44] Because we still don't have a clear idea
[03:32:48] about the total cost of this operation.
[03:32:52] We don't know what its effects will be,
[03:32:55] if it has any connection to other
[03:32:59] places. I would like to draw attention to
[03:33:02] another issue related to this. These
[03:33:05] were on the agenda, and when this incident occurred,
[03:33:09] they suddenly disappeared. In Turkey,
[03:33:12] operations were carried out against
[03:33:15] middlemen, as you know, and very quickly,
[03:33:19] our justice system, our judiciary, left out the competition
[03:33:22] board, the Ministry of Trade, the Ministry of Industry, etc. Only our prosecutors
[03:33:26] intervened in unfair price formations.
[03:33:30] Do you know how exorbitant prices occur?
[03:33:33] Let me explain one method to you. Why am I
[03:33:37] explaining this? Because we talked about how
[03:33:41] exorbitant stock prices are formed in the SPK
[03:33:44] or IMKB here, let's also see how
[03:33:47] the price of tomatoes is formed. As you know,
[03:33:51] there is a market law in Turkey. You
[03:33:54] have to take tomatoes produced in Antalya to the market.
[03:33:57] And with the laws and permits issued by the AKP,
[03:34:01] which they probably issued to protect these three-letter markets,
[03:34:04] you can buy products directly from
[03:34:07] the producer. However, there is a headline
[03:34:11] price for tomatoes, which is the price at the market.
[03:34:14] If you sell the amount of tomatoes
[03:34:17] entering the market directly to these three-letter
[03:34:21] companies, the tomatoes will arrive in Istanbul
[03:34:24] without entering the market. Since there is less
[03:34:27] supply in the market, the headline price
[03:34:31] will go up. The less goods you bring
[03:34:35] to the market, the higher the headline price. What happens
[03:34:38] as a result? Just like exorbitant
[03:34:41] stock prices, there will be exorbitant tomato prices. The reference
[03:34:44] points for these three-letter companies are these market
[03:34:48] prices, because they take them as a basis.
[03:34:51] They don't make pricing based on their
[03:34:54] own costs. The system has allowed this.
[03:34:58] Of course, one must be fair to those companies.
[03:35:01] But you have designed the system this way. When
[03:35:04] the industrial system is organized
[03:35:07] in this manner, you cannot intervene
[03:35:10] by looking at the matter from a narrow
[03:35:14] legal perspective. This is an industrial
[03:35:17] construction, the construction of an industrial system.
[03:35:20] And how does this go to judicial authorities?
[03:35:23] First, institutions like the Competition Board,
[03:35:26] like the SPK, conduct a technical
[03:35:30] investigation, and then
[03:35:32] if there is indeed a crime, they report it. Isn't
[03:35:36] it the same for the SPK? If you can do this
[03:35:40] by arresting the middlemen, I ask the judicial
[03:35:43] authorities, why didn't you directly
[03:35:47] intervene in these operations and
[03:35:50] exorbitant price formations, like the prices
[03:35:54] of tomatoes, which have already become
[03:35:56] public knowledge? You deem it your right
[03:35:59] to directly intervene with tomato and vegetable sellers,
[03:36:02] bypassing the competition board and the Ministry of Trade, but here,
[03:36:06] you don't directly intervene with these
[03:36:10] friends, bypassing the SPK and the BDDK.
[03:36:14] Now, this is also a result
[03:36:16] of the dual structure in the judiciary,
[03:36:20] or rather, how the judiciary
[03:36:23] is used for political purposes. Because
[03:36:27] we know that the price of tomatoes is related
[03:36:30] to inflation, and it's about showing the public
[03:36:34] that it's fighting inflation. However,
[03:36:38] there is no move to change the industrial
[03:36:42] structure that is needed. Just impose a penalty,
[03:36:45] catch two fake invoices, and say, "These are the criminals."
[03:36:48] I expect that in this case, too,
[03:36:52] we will see a system where 3-5
[03:36:55] people will be left to the mercy of the public.
[03:36:59] Okay, I'm very sorry.
[03:37:02] You just quoted something. What did it say? It said that these developments
[03:37:06] would have a positive effect on inflation,
[03:37:09] and as a result, interest rate cuts would be possible.
[03:37:13] Why a positive effect? To make what he meant
[03:37:16] more understandable, he says we need to constantly
[03:37:19] create crises to reduce inflation. He says
[03:37:22] people's money evaporated.
[03:37:25] The meaning is that 20 billion dollars
[03:37:28] of Tela money evaporated, and since they can't spend it,
[03:37:41] inflation is a struggle for this country,
[03:37:44] isn't the evaporation of people's money a
[03:37:48] separate issue in itself? What we really need
[03:37:51] to talk about is not its effects on inflation, the Central
[03:37:55] Bank's interest rate decision, and so on,
[03:37:58] but rather, that there is no money,
[03:38:02] people can't spend it, they can't pay their rent,
[03:38:06] they can't go to the market, will not take,
[03:38:09] therefore this also leads to an increase in prices, it reduces inflation, now
[03:38:13] to see this as a macro indicator, I strongly
[03:38:16] refuse to ignore the human story within the work, I think
[03:38:19] we need to be more careful about these, now
[03:38:22] look, we have been talking about these issues since the beginning of our entire broadcast, but while
[03:38:26] talking about these issues, our commentators
[03:38:29] often make the reminder that, in the end,
[03:38:32] all of these are not independent
[03:38:36] of the problems created by the presidential system in Turkey, they are
[03:38:40] problems that can be
[03:38:42] linked to it. A book was written
[03:38:45] in parliament for this presidential system
[03:38:48] 11 years ago, and some
[03:38:51] warnings were made in that book 11 years ago,
[03:38:55] friends, let's move on to visual number 10, and then I will ask
[03:38:58] you for visual number 4, look, the parliamentary
[03:39:02] research services presidency had prepared
[03:39:05] a book titled "The System" in 2015,
[03:39:08] before the 2017 referendum
[03:39:11] on the transition to the presidential government system, to contribute
[03:39:20] to the discussions on system change. A section
[03:39:23] from that book caused a stir today. It says:
[03:39:26] "Since the legislative body cannot end the existence
[03:39:30] of the president,
[03:39:33] the term of the executive power is fixed. In this case, no matter how
[03:39:36] incompetent a president is,
[03:39:39] he cannot be removed from his position
[03:39:42] before his term expires.
[03:39:45] Even if his public support or legitimacy becomes controversial,
[03:39:49] the president cannot be replaced before
[03:39:51] his fixed term expires.
[03:39:54] In a zero-sum game where
[03:39:57] the winner takes all and the loser
[03:40:00] loses all, factors that encourage
[03:40:03] polarization rather than consensus come to the forefront.
[03:40:07] The president, who is confident that he will
[03:40:10] retain his power until the next presidential
[03:40:14] election, "may become insensitive
[03:40:17] to the demands of both the opposition and the electorate.
[03:40:21] The president, whose powers are based
[03:40:24] on plebiscitary and majoritarian elements,
[03:40:28] may come to believe that he represents
[03:40:32] all the people. While seeing his
[03:40:34] own policies as a reflection of the public will,
[03:40:38] he may define the policies of the opposition as selfish
[03:40:41] plans of narrow interests. The policies of the opposition,
[03:40:45] selfish plans of narrow interests, can be defined as such. Of course,
[03:40:49] let's not unfairly criticize the book, it also states what the advantages are,
[03:40:53] it explains the advantages and the disadvantages.
[03:40:56] This section on disadvantages attracted attention today. Now,
[03:40:59] therefore, is it a regime issue? What is the goal of the New
[03:41:03] Party then? Why did Özgür Özel announce
[03:41:06] one of the three goals of the new party as a new
[03:41:10] regime? This is also in visual number 4. Do you know
[03:41:13] what Özgür Özen said? As the New Party, we have three goals,
[03:41:17] one is 50 + 1, one is 60 +
[03:41:20] 1. We will come to power with 50 +
[03:41:23] 1, with 50% + 1,
[03:41:26] we want to elect a president with 60% + 1,
[03:41:30] that is, a 50% + 1 goal in the parliamentary
[03:41:33] election, 60% + 1 in the presidential
[03:41:37] election, and then a strong parliamentary system,
[03:41:40] a strong reconstruction of the regime in the balance and control
[03:41:44] systems is needed. Let's continue by asking
[03:41:47] Kayahan Hoca about this. Kayahan Hoca, are these three
[03:41:50] goals announced by Özgür Özel related
[03:41:53] to the agenda we are currently discussing
[03:41:57] and the issues imposed by that agenda, and
[03:42:00] 50 + 1, 60 + 1. In the end,
[03:42:03] these represent important things, important, that is,
[03:42:07] a benchmark. A serious benchmark is being set.
[03:42:11] 50 + 1 in the parliamentary election, 60 + 1 in the presidential election.
[03:42:13] How do you, as a new party member of parliament, evaluate
[03:42:17] this situation?
[03:42:20] Mr. Karadağ, what we discussed here is very closely related,
[03:42:23] because merely changing the government will not be
[03:42:27] enough to solve the problems we discussed, we also
[03:42:30] need to change the system. To be able to change
[03:42:34] the system, we first need to take
[03:42:37] the majority in parliament, this is what 50 + 1 means, and then
[03:42:41] we need to change the president and
[03:42:44] abandon this system and ensure a transition
[03:42:48] to a strong parliamentary system. It is often asked
[03:42:51] why 60 + 1, and I have received questions
[03:42:54] about this. The main issue here is that with the power
[03:42:58] of that 60 + 1, a new president can be
[03:43:01] installed at the head of Turkey
[03:43:04] strongly, without giving rise to any
[03:43:08] discussion in the presidential elections. This can be defined as such. By the way,
[03:43:12] I would like to say something about this book published
[03:43:15] by parliament 11 years ago, which you quoted earlier. It
[03:43:19] has become popular again these days, but both then
[03:43:23] and now, as you will remember, many
[03:43:26] segments in Turkey, especially professors who are very competent
[03:43:29] in constitutional matters, clearly
[03:43:33] pointed out these problems. Therefore, it is absolutely
[03:43:36] necessary to evaluate our Chairman Özgür Özel's statement
[03:43:39] that we will not only change the government but also change
[03:43:42] the system, as a transition
[03:43:45] from this majoritarian system to a democracy.
[03:43:48] Turkey needs today, after changing
[03:43:52] the government, a new system where a new president,
[03:43:55] together with the majority in parliament, will bring comfort to everyone,
[03:43:59] ensure equality for citizens, and implement a pluralistic
[03:44:03] democratic structure must definitely
[03:44:06] be reflected in life. Ahat Hoca, this
[03:44:09] 50 + 1 in the parliamentary election, 60 + 1 in the presidential election,
[03:44:13] although let's say this,
[03:44:15] that some of the polling
[03:44:18] organizations that try to measure
[03:44:22] the pulse of public opinion, even if it's not exactly
[03:44:25] 60-40, for example, when asked if it's Erdoğan or Yavaş, or İmamoğlu,
[03:44:28] a 45 to 55
[03:44:32] is easily seen in most of them, in some it's 42 to 58,
[03:44:35] as far as we understand, has Özgür Özel set such a benchmark
[03:44:39] for himself? 60 + 1 for the presidency, 50 + 1 for parliament. Why
[03:44:43] might he be setting this? What kind of motivation is he trying
[03:44:45] to create? Of course, here,
[03:44:49] to be able to change the system, there is a necessity
[03:44:52] of 50 + 1.
[03:44:55] Mr. Özel has set
[03:44:58] something like 1 for the presidency, but there is no need for such
[03:45:01] a thing. If the opposition could get 50 + 1 due to the presidential
[03:45:05] system, if it could be obtained,
[03:45:09] in other words, if the opposition could unite behind
[03:45:12] such a candidate and save 50 + 1,
[03:45:15] in a sense, the problems would largely
[03:45:18] be solved, because the key
[03:45:21] to changing the regime is of course
[03:45:24] to gain the majority in parliament, which would have
[03:45:27] great advantages, but far beyond that
[03:45:30] is to obtain the presidency. In a model where
[03:45:34] you cannot obtain the presidency,
[03:45:38] if we look with the assumption that
[03:45:41] this constitutional structure and constitution
[03:45:45] will continue, you will not have such a chance,
[03:45:48] that is, such a parliamentary strong
[03:45:51] supported transparent, responsible,
[03:45:55] accepting responsibility, then
[03:45:59] an open administration has no chance of emerging,
[03:46:02] that is, the presidential system. The reason for this,
[03:46:05] if we simplify it, is that this presidential
[03:46:09] system, the Turkish type presidential system, which was brought
[03:46:12] to the agenda, was flawed
[03:46:15] from the beginning based on a flawed understanding.
[03:46:19] Let's remember how this came to Turkey's
[03:46:22] agenda. That is,
[03:46:25] with Mr. Bahçeli's expressions and
[03:46:29] support, it came to the agenda. What did he
[03:46:31] say there? The president
[03:46:33] elected with the old constitution
[03:46:37] or the old system, with the understanding
[03:46:40] of the parliamentary
[03:46:42] period, does not comply with the constitution. Then if the constitution
[03:46:46] is like that, let's adapt the constitution to it.
[03:46:49] In the world, in the history of world politics,
[03:46:53] such a thing has probably never happened. I guess
[03:46:55] it happened for the first time in Turkey. That is,
[03:46:59] "The president does not comply with the constitution, so
[03:47:03] let's change the constitution." There is no such understanding as
[03:47:06] "let's change the president." That is, to change the constitution
[03:47:09] and accordingly, this system called the Turkish type Presidential
[03:47:13] system is actually
[03:47:16] tailored to Mr. Erdoğan, a system manufactured
[03:47:20] according to him, and I have been saying
[03:47:22] from the first day that this system,
[03:47:26] or rather, at the time this issue began to be debated,
[03:47:30] with the acceptance by the YSK
[03:47:33] of approximately 2.5 million votes
[03:47:36] in an illegal, unprincipled manner,
[03:47:40] the referendum passed. What I said at that
[03:47:44] time was this: The Turkish
[03:47:47] type Presidential system, this system
[03:47:50] will leave us facing something
[03:47:53] like this, as stated until today, due to its system
[03:47:57] structure. Things are standing.
[03:48:00] We said we would face a similar
[03:48:03] picture to one of the presidential
[03:48:06] systems seen in the post-Soviet geography. The reason
[03:48:10] for this was that since that
[03:48:13] day, I have constantly stated in meetings
[03:48:16] and discussions, in programs, that this system
[03:48:19] is such a system that
[03:48:23] we explain it in two sentences or I define it
[03:48:26] as this: Responsibility
[03:48:29] is zero, authority
[03:48:32] is infinite. An understanding
[03:48:36] of governance with infinite
[03:48:40] authority and zero responsibility.
[03:48:43] The result, as we just discussed, is
[03:48:47] that we have become a country where no one
[03:48:50] takes responsibility, everyone
[03:48:53] looks to Beştepe, and where
[03:48:58] "events there, discussions there,
[03:49:01] and speeches made from there
[03:49:04] determine people's actions
[03:49:07] and decisions are made accordingly."
[03:49:10] That's the situation. This is the point
[03:49:14] that the Turkish-type presidential system has brought
[03:49:18] us to, and no matter which area
[03:49:21] you look at, from its economy to its foreign
[03:49:23] policy, from its agriculture
[03:49:27] to its industry. That is, today, industry
[03:49:31] has been negative for the last 23 months, if I remember correctly.
[03:49:35] Industrial production is in the negative.
[03:49:38] It continues at 0.2%, 2. something percent, and so on.
[03:49:41] That is, agriculture,
[03:49:44] well, with all its issues,
[03:49:47] the understanding that "we have money, so we import."
[03:49:51] And even more,
[03:49:53] was it 2011 or something, I forgot,
[03:49:57] the Minister of Agriculture of that period,
[03:50:00] Mehdi Eker, France awarded him
[03:50:04] the Legion of Honor. Why did they award it? Because
[03:50:08] at that time, we
[03:50:10] had exported 2 million dollars of beef,
[03:50:13] sorry, imported. Also live animals, I don't remember
[03:50:17] the number, it could be 600, 700 thousand, we had exported
[03:50:20] live animals, sorry, imported. For this, the French Minister
[03:50:24] of Agriculture awarded our Minister
[03:50:27] of Agriculture the Legion of Honor.
[03:50:30] That is, the situation has turned into a system
[03:50:34] where such practices can be carried out. Now,
[03:50:38] I'm not going to talk about
[03:50:40] the economic situation, but the professors will
[03:50:44] explain this much better, but I'm telling you my own measure.
[03:50:47] I look at the 2-year, 5-year, 10-year
[03:50:51] bond interest rates. These interest rates
[03:50:55] had started to go down to around 38,
[03:50:58] like 2-year was around 38-39, 5-year
[03:51:02] was around 35, it had gone down to around 32 for 10-year
[03:51:05] bonds. I'm telling this for the viewers to
[03:51:09] understand. That is, the state says, "I'm selling
[03:51:12] you this bond, you take this in return."
[03:51:16] "I will give 32% interest for 10
[03:51:20] years." That's how simple it is. "I will
[03:51:23] give this money for a 10-year period, and
[03:51:27] I will give this interest for a 2-year period," and so on. Now,
[03:51:30] yesterday, I was a speaker on another television channel,
[03:51:34] and I saw that the 2-year interest rate had risen
[03:51:38] to around 41% again.
[03:51:41] The 5-year interest rate had risen to
[03:51:45] 39, and the 10-year
[03:51:48] interest rate had risen to
[03:51:51] 35 point something, 36. If these are the figures
[03:51:55] at which you, as a state, or rather, as a government,
[03:51:58] are borrowing, then you have no chance
[03:52:02] of lowering inflation. No, there is none.
[03:52:06] Therefore, no matter how we look at it,
[03:52:09] this system has entered a serious bottleneck, but
[03:52:13] despite this, the government
[03:52:15] says, with the statement
[03:52:18] of the Minister of Justice, that they will hold
[03:52:21] an election in 2028 to re-elect their president.
[03:52:25] That is, as if
[03:52:27] the citizen's only alternative is this,
[03:52:30] such a perception is being presented
[03:52:34] to the citizen. To overcome these,
[03:52:38] Mr. Özel sets such benchmarks
[03:52:41] to create a serious dynamism
[03:52:45] and support in public opinion. Whether these benchmarks
[03:52:49] are realistic is debatable, but
[03:52:52] if you don't set such benchmarks
[03:52:56] or stand behind them, you may
[03:52:59] not be able to shape the opposition. Therefore,
[03:53:02] I mean, "Okay, as in the polls,
[03:53:06] our vote share is this much. We will increase
[03:53:09] our vote share by 5% or 10%,"
[03:53:13] with such an understanding, you cannot align
[03:53:16] the opposition. Therefore,
[03:53:19] Mr. Özel brings such an understanding,
[03:53:22] such a mentality to the agenda, I see.
[03:53:26] So now, will the transfer moves still
[03:53:30] continue? Will this transfer politics never end?
[03:53:33] Some backstage news came out again
[03:53:36] today, saying that three more deputies are in line.
[03:53:40] It is said that three more deputies will join
[03:53:42] the AKP. There is such news, based on
[03:53:46] a statement by AKP spokesperson Ömer Çelik, because
[03:53:50] this backstage news was reflected. It's in visual number 13,
[03:53:53] friends. Now Ömer Çelik said
[03:53:57] that there are requests to join the AK Party.
[03:54:00] başkanları, şunlar, bunlar, meclis üyeleri tamam, ama bir
[03:54:03] de milletvekili transferi de önemli, ak parti'ye katılmak için
[03:54:07] talepler var dedi, eee şimdi de... eee üç
[03:54:10] vekilin katılabileceği buna ilişkin haberler var
[03:54:14] iki İyi partiden AKP'ye geçecek iyi partili
[03:54:16] vekilden eee bir de
[03:54:19] yanılmıyorsam yeniden refah yani.
[03:54:22] alıyor muyum yoksa bakarım şimdi üç vekilin daha geçebileceği
[03:54:26] söyleniyor, buradaki ibare doğru mu?
[03:54:29] ak partiye katılmak için talepler var diyor, evet
[03:54:33] eee, bunun anlamı,
[03:54:35] milletvekilleri ak parti'ye geçmek için talepte bulunuyor,
[03:54:39] belediye başkanı milletvekile, ak parti
[03:54:42] milletvekillerini bize geçin talebinde
[03:54:45] bulunmuyor, şöyle diyor tam hocam, partiye ak
[03:54:48] partiye milletvekili ve belediye başkanlarından...
[03:54:52] katılım talebi var diyor, evet dediğiniz gibi onlardan katılım talebi
[03:54:56] var diyor, biz ne yapalım diyor yani anlayış hocam, istifa
[03:54:59] yok, ne var, görevden af var,
[03:55:03] evet burada da talep yok, özür
[03:55:06] dilerim, az önce yeniden refah dedim, yanlış söylemişim, haberde iki iyi
[03:55:10] partiden, bir de yeni partiden bir vekilin
[03:55:13] AKP'ye geçeceğine ilişkin bir iddia var, iki iyi partiden bir
[03:55:17] yeni partiden vekilin AKP'ye geçebileceğine ilişkin bir iddia, bu
[03:55:20] iddia Ankara Kulislerinde.
[03:55:32] vekil geçti mi geçti, yeniden refahtan bir vekil geçti mi geçti, deva partisinden bir vekil
[03:55:35] geçti mi geçti, isimleri de burada var ama onu sıralamaya gerek
[03:55:39] yok, bu tür kulisler yoğun mu Fikret abi,
[03:55:43] Ankara'da konuşuluyor mu? Evet
[03:55:45] konuşuluyor, gerçekten
[03:55:49] Öner hocam da ifade etti, yani davet.
[03:55:52] almadan ak partiye geçmek isteyen milletvekilleri söz
[03:55:55] konusu. eee sen partilerin ismini saydın
[03:55:59] eee 3 milletvekili daha şimdi burada şöyle bir eee
[03:56:03] olgudan bahsetmek lazım. Ankara'da en çok konuşulan bu,
[03:56:06] iktidar bir anayasa değişikliği hazırlığı
[03:56:09] içerisinde ve bu anayasa değişikliği cumhurbaşkanı sayın
[03:56:13] Erdoğan'ın eee yeniden sınırsız şekilde
[03:56:17] aday olmasını sağlamayı hedefliyor. Anayasanın
[03:56:20] 101. maddesinin değiştirilmesi veya kaldırılması
[03:56:23] öngörülüyor, bunun için de tabii 360
[03:56:27] milletvekilinin onayı lazım, iktidar partilerinin
[03:56:31] milletvekili sayısı buna yetmiyor, bu bakımdan
[03:56:34] örneğin dem partiden destek almak gibi eee işte
[03:56:37] iyi partiden, yeniden refah partisinden milletvekili transfer
[03:56:41] etmek gibi yöntemlerle iktidar bu 360
[03:56:44] sayısına ulaşmaya çalışıyor. Eğer anayasayı değiştirecek bir
[03:56:48] uzlaşma sağlayamazsa bile eee erken seçim
[03:56:51] kararı. alması için de bu sayıya ulaşması
[03:56:55] gerekiyor, çünkü Cumhurbaşkanı adayı
[03:56:58] olmasının yollarından biri
[03:57:00] eğer 101 maddeyi kaldıramıyorsa erken seçim kararının
[03:57:03] meclisinin alması eee bunu sağlamak zorunda,
[03:57:07] çünkü başka türlü cumhurbaşkanlığı adaylığına
[03:57:10] tekrar aday olmasına eee tekrar eee imkan sağlamıyor
[03:57:14] anayasa eee Ankara'da bu amaçla milletvekili
[03:57:17] transferleri yoğun şekilde gündemde ve önümüzdeki
[03:57:20] günlerde de bu geçişleri eee "bekliyoruz, bu da beklentiler
[03:57:24] içerisinde görülüyor, erken seçim konusunda
[03:57:27] ise her zaman her fırsatta yeni parti lideri
[03:57:30] sayın Özgür Özel, hemen erken seçim yapalım diye
[03:57:34] çağrıda bulunsa da, iktidar kendisi için
[03:57:37] uygun olacağını düşündüğü zaman erken
[03:57:40] seçim kararı almayı planlıyor ki, düşünün danışman
[03:57:44] Mehmet Üçum 2028'in Nisan ayı eee
[03:57:47] diyebildi, yani zaten normalde mayısta yapılacak
[03:57:51] seçim, onu bir ay." birkaç hafta öne çekmek erken seçim
[03:57:55] sayılmaz, yeni partinin erken seçim konusunda diğer muhalefet
[03:57:59] partiler ile beraber eee baskısını arttırması da
[03:58:02] bekleniyor, her fırsatta bunu zaten dile getiriyor ama
[03:58:05] amaç yeniden aday olmasını sayın Erdoğan'ın sağlamak eee
[03:58:09] milletvekili transferlerinin eee asıl amacı bu diye
[03:58:13] söyleyebiliriz yalnız Ömer Faruk Emin Ağaoğlu biliyorsunuz çok bilinen bir
[03:58:16] isim kendi alanında bir saniye dedi
[03:58:19] ya bu AKP'nin erken seçim hesabı yanlış kardeşim dedi. "o
[03:58:23] hesap oy verme gününden alınmaz dedi, seçim sadece oy verme günü demek
[03:58:26] değildir dedi, birazdan bakacağız ona.
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[04:00:22] Halk TV uninterrupted. Good morning my dear Turkey. Good morning
[04:00:26] to all of you from the bottom of my heart. Good morning Istanbul, good morning
[04:00:29] Ankara. Good morning to Izmir, the pearl of the Aegean. Good morning
[04:00:33] to Antalya, the capital of tourism. Good morning to its east, its central
[04:00:36] Anatolia, its Black Sea regions. Today,
[04:00:40] some people woke up a little happier, they got out
[04:00:43] of their beds like that, I know. Some parts of the country
[04:00:47] are sad, we are among the sad ones as Galatasaray
[04:00:50] fans, but I sincerely congratulate my Trabzon brothers,