Wikileaks is evidence to the fact that character assassination has turned into a tool for public management.

Do you follow Wikileaks? To be honest, I cannot stop myself taking a look at the website first thing in the morning. Even if I do not want to, I find myself reading the new leaks. I believe this "stalker" mood has been spreading more and more. We are informed that the leaks will continue to come for a couple of months. They say they are releasing the leaks slowly so that we can digest what has been going on completely. Let us hope for the best!

I read a cable about the current Minister of Finance, H.E. Mehmet Şimşek, the day before. The document was dated September 2008. It is said that the Honorable Minister, during his former position as minister, casually remarked in a meeting with a group of investors in London that they should sell their shares in the Dogan Media Group of Turkey. He did not comment on the investigation into the Dogan Group. And he did not say this under pressure. He just "implied" that an issue existed which could affect the performance of the shares of the company. Allegedly, this implication was made by a Minister who potentially had such information. Then H.E. Mehmet Şimşek denied the allegation.

I personally believe that H.E. Mehmet Şimşek, a man who knows the international capital markets well would not "imply" such a thing. Anyone else could have; but he would not because insider trading is an indictable offense in international capital markets. It is not an act to criticize or condemn; it is a crime. And it is quite hard to prove it.

It was only November 19 when İbrahim Haselçin, former Capital Markets Board official, talked about this exact issue in daily HaberTürk. According thim, "The title of the forty-seventh article of the Capital Markets Law is 'penal liability.'  Paragraph A of the article defines 7 criminal actions. These are indictable crimes and are published with imprisonment. Article 47, paragraph A/1, regulates insider trading. As the law maintains, with the aim of benefiting for himself/herself or for third parties by making use of non-public information which will be to affect the value of capital market instruments is insider trading.  (...) According to the law, those who commit such crimes can be punished with imprisonment from 2 to 5 years with the penal suit to be opened upon the criminal complaint to be filed by the Capital Market Board. (...) As can be seen, insider trading is practiced generally by corporate managers or senior executives. The Turkish stock market is a paradise for insider trading."

Do not you think that the issue in question is exactly the same? Yes it is. Is there anything that can be done? No. Then does the accused have any other option but try to clear himself/herself of the charge? No. Is this not illegal? Yes, it is. Previously, such occasions were talked about in reference with character assassination. And this is exactly what this is about.

I am afraid Wikileaks is witness to the fact that character assassination has turned into a tool for public management. Anonymous advisory notes, which have become the norm in Turkey in the recent period, have now been globalized.

Let's hope for the best!

This commentary was published in Radikal daily on 03.12.2010