Here are two videos from our local television channel on how the countries, Hong Kong and Singapore, are handling the financial crisis and in particular, the structured products saga.
In Singapore:
In Hong Kong:
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only can say…
die die die….
sad sad sad…
change change change…
do u all catch my idea..
hmmm…
think think think… :)
from the video, as well as other news media, we noticed the Hong Kong people is much effective than Singapore to push the banks and the government to act fast and more transparent, and MPs are also doing their job.
Hong kong people got nuts betw their legs. singapore counterparts got nothing cos of 40 yrs of brainwash. go bite dust, dude.
Hahaha… MAS & MOF finally bit the bullet and have g’teed all deposits! I guess the sound of money flowing out of our banks to HK was too loud to bear!
2 out of 2 bloopers for Tharman – first his “no recession” claim back in June when it was patently obvious that we were heading for one.. and now in a manner of a few days, he’s done an about face. Maybe he’s too busy looking after his undermanned GRC!
Hong Kong is indirectly the great saver of these lehman investors in Singapore. Should give a big thank to Hong Kong. Because of Hong Kong’s policies of for the people, from the people and by the people, Hong Kong implements drastic measurement that makes itself conducive for investment which if Singapore don’t follow will see foreign capital investment transfer to HOng KOng. So don’t even think that Singapore bank is noble because it is not as it is just merely response to competitive action of its competitor.
So please, Hong KOng,
continue to do good for the people and show how truly world-class government you are and teach the greedy Singapore gov that one don’t need millions as salary to consider world-class. The speed at which Hong Kong try to resolve the matter is definitely proactive and world-class.
Can anyone imagine the consequences if Lehman minibond are not sold in Hong Kong and hence no precedent of action to benchmark, Singapore investors are left to fend for themselves and when ask these expensive world-clown gahmen what to do next, these clowns respond
“It’s life. you should put the money in CPF and enjoy the paltry return. Better than losing your money !”
“You ask me, I ask who? Find your own answers.”
How can a environment so pro-business and with business politician’s conflict of interest really care of the people ? It makes me wonder ….
It takes two hands to clap, and it takes one ass to shit.
Nowadays, DBS, Citi, HSB, OCBC etc are “greedy like hell” Everywhere they hold road shows to sell new deposit attractions and offer you to open Credit Card Accounts with them. At MRT, young partime workers, mostly university students hand me forms.etc. trying to get business.
I got fed up and told them their banks will not allow retirees to own Credit Cards unless they deposit large sum of money in their banks. Even to own the POSB Everyday Card where you can get another 5% discount at Carefour Super Market, DBS wants me to open a $10,000 Fixed Deposit. And mind you, I have been a loyal DBS and POSB customer for almost 50 years, and they offer me for annual bunkum deal.at very low rate.
In the old days, banks do not operate this way. Today, they are no better than the Bengali Sikhs or Chettiers just after World War II when they visit debtors on pay day outside City Hall. If our Big Banks don’t stop sell us poor deals, they may be nicknamed loan “buayahs.”
Osamasama tak boleh tahan
the ponytails MP making a pt at parliament house resemble CSJ.
maybe it is time we get ppl like CSJ in to protect our interest than to reply the greedy singapore politicians.
we all know why u are out of NTUC. well done tan lim lian
good point daniel. sometime the crisis brings mroe clarity about what your gov thinks and what their priority is about. their recent action to gurantee the deposit is merely a reaction to what HK and other parts of the world are doing.
sad things is, sg gov priority is still of course making more profit from all their government-linked company, even in the event of this global financial crisis. the 21% electircity tariff is good example.
Agree, Hong Kong people are great, or Singapore will not follow Hong Kong, Why Singapore decision makers are always slower than Hong Kong.
At last Singapore is following Hong Kong to guarrentee Banks’ deposite, or else all money will gone.
Singapore, when are you going to help us – hardworkers, heartlanders, to get back our savings invested into Lehman link bonds/high notes. Follow Hong Kong to press banks to buy them back la……
Suggested, in future all the investment prospecteus must be available also in Chinese in detail like the English version, as majority people are chinese , and CHINESE EDUCATED (terms always used in Singapore),
May be timely now to consider employing HongKong government to govern singapoor.The HK government besides being paid lower salary,it is more efficient and more compassionate.I suggest we conduct a survey to find out from singapooreans on this suggestion
tonyfatt: “May be timely now to consider employing HongKong government to govern singapoor.”
1. Impossible to employ HK govt; but possible to employ HK civil servants.
2. A few HK civil servants will not change SG govt culture. In the end, 2 possible outcomes.
2a. HK civil servants, cannot adopt to the SG govt culture, They will leave SG.
2b. HK civile servants who can adopt to SG govt culture, will fourish. These HK quick thinkers/doers will reinforce the SG civil servants to do more and better of the things that are uniquely SG.
3. Peasants will enjoy the fruits of tonyfatt’s proposal :(
Anonymous,
fantastic suggestion! never mind if we cannot bring the hk civil servants over at this point in time.
maybe when our opposition comes into power they can immediately sack all the current crop of useless and spineless sg civil servants and replace them with those from hk.
hmmmm . . . something for the future . . . .
In future, investors must exercise extreme care with psychological preparation that any investment will surely tie with minimal risks prior investing in any financial products and services. They should do more home work, by doing their
careful calculation before jump into it.
Now you see why the Hong Kong government, which cost less than the Singapore government, are so much highly regarded: at least they bother to deal with the issues hands-on and immediately. That’s leadership.
Singapore, everything must wait and see. Like the poisoned milk incident. Meanwhile, people may wait and si(die). Then pay so much money to the minister for what? Copycating other people’s policies. Any idiots can do that for much, much less.
New blog posting on Singapore’s Pro-business marketing spin
http://fullpowertotheshields.blogspot.com/2009/03/singapore-family-dictatorship-with.html