Today’s Blog Feature is from Gerald Giam, “Greater transparency needed for Presidential decisions”, on President Nathan approving the government’s draw on the reserves.
Here are excerpts from Gerald’s post:
Firstly, the President should be required by law to make public his reasons for approving any draw on the reserves. This should be done within one week of making the decision, and before any of the money is actually withdrawn and used.
Secondly, the CPA should also make public its recommendations to the President and their reasons for such. The individual votes of each of the council members should be transparent to Singaporeans as well, since the council makes its decisions on majority vote.
Read the full article here.
Read also Alex Au’s take on President Nathan’s interview with the Straits Times : Nathan fluffs his reserves explanation.
Related posts:
- TOC Blog Feature: 10 reasons why I cannot vote for the PAP in the next election
- Blog Feature: My dear Government, why do you treat me so?
- Blog Feature: Did Lim Hwee Hua say GIC lost 41% of investments?
- Blog Feature: Puzzling over portfolio
- TOC Blog Feature: Fogged lens
what 2nd key?
They are all yes-men – the President, the coucil – all huriedly bullied by a 2 day deadline.
and when GIC invested in Citibank – where the hell was the 2nd key?
To make public President decision on National Reserve I agree.
Than the President office should have their own staff.
To do their administration duties.
The President must have his office lawyer by his side.
Because the President also taking care of Head of Civil Servants.
The President can terminate or hire the Head of Civil Servants.
How can the President safeguard the reserves if he has no control over how the money is invested? Did he think about this? Maybe he assumes that the money is in good hands which recent events prove it is not.
The only solution for the president to safeguard our national reserve is to get those papees out of the govt. and abolish the whole policy and system of theirs altogether. There is no other way out now. The present system is made to trapped us all here, including the president to work and make alot alot of money for them to reward the familees and their coffers, and those bought over running dogs and nothing else. Just see how the old man stragically deployed all his family members and relatives as head of every important ministry even though many of them are not qualified but just there to draw millions out of the taxpayers pocket. Yes, its out corruption you can call it but just that its legalised ones here, only in Singapore.
The job of our President is to make decision, not to explain.
The President does not need to know anything about finance, does not need to justify any figures, just need to learn how to say words of affirmation.
And cutting ribbons, and visit orphanages.
Tough job, no wonder qualified candidates all give ways.
5) notalone on February 20th, 2009 3.09 am
The job of our President is to make decision, not to explain
It seems that the President’s job doesn’t even involve making any decision – simply say “yes” to decisions that have already been made for him.