Andrew Loh
The question of how the President approved the Government’s request to use the reserves was brought up in Parliament by Mr Low Thia Khiang, secretary-general of the Workers’ Party. Charging that the President’s second key “unlocks automatically” when the Government asks for it to be unlocked, Mr Low and other MPs asked for more transparency in the deliberations of the President and the Council of Presidential Advisers.
However, Finance Minister Tharman Shanmugaratnam, in reply, explained the principles for seeking the President’s approval instead:
First, a government should only draw on past reserves in very exceptional situations, for example, when external events or crises pose a threat to Singapore’s economy or society. Second, the measures to be funded should be of a temporary nature.
The question of what steps the President took, or the process and reasons by which the President approved the Government’s request to use the reserves is left unanswered.
Mr Tharman instead explained that “this is a system that relies on trust in the individuals who are in charge, including those appointed to the CPA and the Elected President.”
He further asked:
Do you trust them? Have they made decisions wisely? Has the government been acting responsibly?
The question thus remains: What were the President’s reasons for approving the reserves, and what process did he go through to approve it?
Below is an excerpt from the report by Channel NewsAsia:
“The concern arises over the way the 2—key system operates. It seems the 2—key system operates simultaneously at the same time. When the government key says “unlock”, the other key unlocks automatically,” said Low Thia Khiang, MP for Hougang.
Mr Tharman said: “This is not a ’wayang’ (show)… The point is: the President, advised by the CPA (Council of Presidential Advisers), makes an independent and careful judgement on the government’s case.”
MP for Tampines GRC, Irene Ng, said: “Can I ask the minister whether the process can be refined and improved further so that in future we can make the process more transparent — that the public knows that the institution of the President is one that is strong, and that it can exercise an independent turn of the key.”
Inderjit Singh, MP for Ang Mo Kio GRC, said: “What’s missing is the process that the President took after he got briefed by the government. If we could get a sense of what they discussed and what process they went through to decide, then this may clear many of these questions.”
But Mr Tharman said: “I’m not sure why it is relevant. At the end of the day, this is a system that is different from Norway and Australia, where as much detail as possible is provided.
“This is a system that relies on trust in the individuals who are in charge, including those appointed to the CPA and the Elected President. Do you trust them? Have they made decisions wisely? Has the government been acting responsibly?”
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How to trust tharman when he is the one who reported to parliament that the govt has no links or control over GIC when almost half of GIC’s board of directors are govt ministers including himself?
“I trust the MM, the SM, the PM, and even some of the other Ms, because of their experience and exposure to the ins and outs of our country.
Now, the President is another thing, because other than jetting around and shaking hands,”
I find doubt in your judgement of trust. It is known fact that our president is a puppet plant by “you know who”, a puppet whose hand and feet is manipulated and controlled by the string that navigate by “you know who”. A puppet is just a instrument for manipulation, nothing more and nothing less.
So when you say that puppet cannot be trusted but the manipulator that control the movement of puppet can be trusted, it doesn’t strike a cord in logic.
The only puppet that is capable of moving and controlling itself is Chucky, the killer puppet in Child’s play (http://en.wikipedia.org/wiki/Child's_Play), and oh… and it doesn’t even takes a million dollar to do its job.
If there is there something I do not know about Singapore puppet, Please enlighten me…
As to why the so-called trustful MM plant a apathetic president rather than another inquisitive type of “Ong Teng Cheng” president, it doesn’t take a rocket science to figure out. So why blame on president ? Isn’t the president is just doing his job according to his pay master, otherwise he will just be sacked for not doing his job.
Daniel, just mention “you know who” is LEE KUAN YEW & HIS SON & FAMILY
Nothing to hide, we all know that.
Aiyoh, so simple is the 2 key process. Any idiot shld know by now. The second key is in the back of the Prez. Like those mechanical toys. So the gahmen just turn that key lah and he’ll open the door lor.
Again he talked about the goodness of the Job Credit Scheme.
Again I feel upset that well run, good and credible companies are getting billions off the GST contribution of poor, old and retrenched.
These millions will be siphoned off to MNC HQs overseas as well as Pay Packages of CEOs of Govt Linked companies,
All such companies must APPLY for help and give a commitment that CEOs will not receive salary of more than $500,000 per annum.
Imagine Obama asks Congress to put the trust on him to push through
his multi billion dollar stimulus package or another other govt legistration without
going through a vote ?
After all he’s been popularly elected by Americans unlike almost half of our
MPs who walked in without a vote.
They thought we trust them so they continue to thrust our trust.
So it’s time to say what we may and keep them at bay.
In due time, we must act to keep Singapore intact.
I suppose what’s missing here is the President’s voice. Unlike ex-President Ong who dared to air his grievance through an independently-organized press conference, our incumbent President has been strangely silent. After all, he’s the other party in this controversy. I’m not sure if we ought to castigate Mr. Tharman for this. The real tragedy is if consensus was automatically given Just Because it was okayed by Parliament. As any HR department would always advise, a good CV doesn’t automatically grant future guarantees,
Admittedly, the replies were enigmatic enough. To simply refer to the trust amongst the executives is insufficient for a modern government and society. Hamilton may have advised the U.S. presidential nominee to act in ‘secrecy and dispatch’ in the 18th century but Singapore can hardly fit that context.
That said, if one conducts their walk around the kopitiams and chat with cab drivers, it’s disturbing to hear their opinions: there’s been a lot of talk that all this hype is unneccessary: just take the money lah, why scare us when the economy is as poor as it is? gahmen just do what it wants and help us lah.
The scary part is that I find myself agreeing with this crowd more.
What qualifications does the President have in financial matters? (He obtained a degree in Social Sciences.) What expeprience does he have in investment matters? It is unreasonable to expect him to study the details and make a decision on his own. If he acted on the advice of his advisors, the question arises as to why it is necessary for him to hold one of the keys? The govt can simply refer to these advisors direct.
I agree with zz.
For a 4.5 billion job credit, it appears the President just trusted the Cabinet ministers to do the right thing.
And the Presidential advisors trusted the Cabinet ministers to do the right thing.
And the 2nd key starts unlocking.
Can you imagine this happening in our democratic system, with the MM Lee instituted Elected President constitution.
I await the Presidential decree and announcement.
Singapore taxpayers must not CANNOT BE A JOKE and treated like a joke..
If any company wants the job credit scheme, the CEO better be paid less than $500,000 – you want the money to save singaporean jobs, you better have a normal pay and not some astronomical pay…….
we already lost so much of our reserves under this prez’s watch through GIC & Temasek. what is another $4.5 billion dollars to him?
Our safe was already open way before the key was needed.
Alky Post#62 has successfully concluded this episode.
But,
Let’s hear more.
Please contribute your views and opinions.
Thank You All !!!
patriot
62) alky on February 9th, 2009 11.53 am we already lost so much of our reserves under this prez’s watch through GIC & Temasek. what is another $4.5 billion dollars to him?
Our safe was already open way before the key was needed
God knows! anything can happen, 44 years with totally no transparency, what do you people think can happen?
Hey Tharman, dont talk about trust.The ‘elected ‘ President wasn’t even elected by the people!
#66 @GJ I have nothing against our President but I must say you are right. Our permission was never sought for that (no nominations no votes).
Modern technology no need keys any more.
All by remote control through your mobile phones.
Easy, simple and direct.
Save time, save energy, save manpower, save all the hassles.
60) zz on February 9th, 2009 11.03 am What qualifications does the President have in financial matters? (He obtained a degree in Social Sciences.) What expeprience does he have in investment matters?
For those who are still wondering why,,,
He was formally heading the ISD which was set up to deal with communists just before Singapore got its independence. He was, to everybody’s guess, a ‘yes man’ to someone who gave orders to lock up detainees without trials. FYI, the ISD act is better known as ’55′ or ‘Fifty-five’.
Naturally, he odd to be rewarded some way or another. Not bluffing…
I am very frightened. The way Tharman behaved in Parliament makes me afraid.
One very serious question came to my little brain:
Has he been signing all the official documents and cheques issued to his staff and other ministries blindly, simply based on TRUST??? Is that his modus operandi?
I suggest the Auditors General, in this year’s auditing, had better do a thorough job on inspecting, checking, investigating, verifying, and nailing all the problems or discrepancies that may be found in the Ministry of Finance. And publish his report publicly for all citizens to read and make their own conclusions.
I hope the Auditors General will not be influenced by the use of the word TRUST!
This is Not Wayang one. No jokes one. Jokes aside. Don’t play play with our money hor!
All those anecdotal examples in parliament, talking to MNC, agreeing to save jobs of the Singapore Citizens after implementation of JCS.
Of course they will agree to the JCC – you are actually giving them moneis to line the pockets of CEOs of GLCs and MNC. Of course they will say it helps them to keep the workers.
What frightens me now is that now our mainstream media will not report future retrenchments in the newspapers, just so that our retrenchment number can be fudged to proof that the JCS is successful.
Of course we ‘trust’ Tharman.
Mr Tharman,
I am S K Chan, Singapore Citizen for 50 years of my life.
I don’t trust the PRESIDENT.
I don’t trust the GOVERNMENT.
I don’t trust the CIVIL SERVICE.
I don’t trust you most, becos you had a police record of “anyhow say things to others”.
Politicians anywhere are not to be trusted,
they are either to be respected or not and to conclude that,
we have to wait for them to pass on.
History has shown repeatedly that many leaders started of good ended as villians the very moment their greeds for powers and wealths overwhelmed them.
Too many examples around within ones’ life time.
It is sad but it is true.
patriot
#71) Dumbass. on February 10th, 2009 6.43 am “What frightens me now is that now our mainstream media will not report future retrenchments in the newspapers, just so that our retrenchment number can be fudged to proof that the JCS is successful.”
oh dear how can we then ever know the truth?? wait are we supposed to trust the media in this case too? but why do I have the feeling that it is a like a self-fulfilling prophecy leading us to the doom?!!
1992 – Tharman was charged under the Official Secrets Act for inadvertently releasing Singapore’s 1992 second-quarter flash projections to a research director and economist of a securities company and journalists from the Business Times.
1993 – Former AG Chan Sek Keong was also featured, where it was mentioned that he prosecuted 5 men for breach of the Official Secrets Act in 1993.
1994 – In 1994, all five men including the present Finance Minister Tharman Shanmugaratnam were subsequently convicted and each fined between $1,500 and $6,000 each.
My question is:
How is it that a convicted person, with a criminal record, like Tharman is allowed to become a Full Minister, and a Finance Minister at that?
Can we base it on Trust?
If someone has trivailised and mocked the whole issue and process of the President’s safeguarding our national reserves, it is the govt itself, which Tharman represents.
It is the self-same govt which introduced the measures and checks so that no govt would without good reasons and justifications dip its fingers into the reserves.
The fact that the govt has done the who thing with such alacrity give cause for us to worry whether it means what it says, and whether it practises what it preaches.
Was it a Freudian slip of the tongue when the minister used the word ‘wayang’? It is also a known ploy for people to be the first to say the obvious that they know others would think of in order to hopefully disarm such thoughts. Very often, they are motivated to ‘pre-empt’ because of a guily conscience.
It is only natural for us, after having been sold the govt’s saw of the necessity for the President to guard the reserves against a rogue administration, to question the speed and opacity of the process involved. Did the Presidential council actually meet or was it all done via phone calls and emails? That such an occasion is an important and significant event which would clearly demonstrate to the citizens the working of the system as it should be, is shrouded in secrecy is truly a cause for concern to citizens.
If TRUST is what Mr Tharman and the govt expect from the citizen to demonstrate towards them, the onus is plainly theirs to show that they can be trusted. Like respect, trust must be earned!
#75
“Can we base it on Trust?”
According to PAP logic, the more you pay them, the more you can trust them :D
I think Bernie Madoff has proven the fallacy of this logic.
IF and only may be if, Bernie was paid the same amount he siphoned or blown away, Maybe , just might be, he may not have committed the CRIME?
Maybe = Maybe Not = Maybe ……….
get my drift?
Hi;
wonder if it is possible for the Government to keep the Reserve
and its’ use(s) when needed, be approved through a referendum by the Citizens??
patriot
Our gahmen has always justified the high pay of civil servants by saying that it is to prevent corruption. But weren’t the bankers paid very well? That didn’t stop them from being dishonest (creating and selling toxic products) and causing the economic crisis.
#80) zz
My anticipation of the answer you will get if EVER your question is laid in front of them,,,,
“….Our government system has always been transparent and our leaders are of noble and upright characters. Our government will not allow such thing to happen here…. ”
They always say like never say, listen already the blood pressure will go up. So no need to ask la.
Expensive key-keeper (and a silent one) – at $3.5 million per year!
With reference to post #75, one of the others convicted in 1992 for breach of the Official Secrets Act was Patrick Daniel. Present position: Editor-in-Chief, English and Malay Newspapers Division, Singapore Press Holdings.
Is anyone still wondering about the kind of people running the country (‘the A Team’)?
Why isn’t the President coming out to tell us how he made his decision? Or is his role simply ceremonial?
Of course ceremonial lah, you think what – China Olympics ah must have a lot of fanfare and fake fireworks. Siao. For me , I rather trust myself than on any body consider there is so many case of graft from countries leader like Thaksin & Ah Bian.
I was hoping our president would actually be bold enough to face the press, including foreign press. to explain and answer questions regarding the draw down of our past reserves. If this is done, I would place my trust absolutely on him!
#85)
Throughout the whole term of Ho Ching in Temasek as the CEO, i have never heard her spoken publicly regarding Temasek’s decisions or addresses though so many things had happened to its investments in the past years.
Let alone this fatter puppet who is holding the second key to both GIC and Temasek.
If he speaks up in front of CNBC or BLOOMBERG regarding the whole process of delibrations, chop my brother off!
#86) wa! so serious ah! chop off . . . . . . and . . . . feed to the chickens….lol
I find Tharman’s comments incredibly childish for someone of his stature.
The President and the parliamentarians are elected by the people. We are living in a democracy. In a democracy, the persons-in-charge must be held accountable for decisions they made for the country’s citizens. Our leaders are not our parents whom we can trust completely, without a need for justification. Even that, it does not mean that we cannot question the decisions made by our parents for us. Tharman still treats fellow Singaporeans as children, incapable of forming opinions of what is right and wrong for the country.
The President is a human being. Does it mean that his decisions are infallible and he has the final say on matters? Furthermore, I do not understand what is wrong if the Presidents’s decisions are scrutinized by the public. If he is confident that his decisions are right, scrutinization by the public is just an added measure. Is there a hidden agenda? The government behaves as if his policy decisions are the ten commandments handed down by God, that need not be subjected to queries. Drawing from that, does the government think that it(they) are God.
Don’t we just love Tolkien
Quote :
“Those who used the Nine Rings became mighty in their day, kings, sorcerers, and warriors of old. They obtained glory and great wealth, yet it turned to their undoing. They had, as it seemed, unending life, yet life became unendurable to them. They could walk, if they would, unseen by all eyes in this world beneath the sun, and they could see things in worlds invisible to mortal men; but too often they beheld only the phantoms and delusions of Sauron. And one by one, sooner or later, according to their native strength and to the good or evil of their wills in the beginning, they fell under the thraldom of the ring that they bore and of the domination of the One which was Sauron’s. And they became forever invisible save to him that wore the Ruling Ring, and they entered into the realm of shadows. The Nazgûl were they, the Ringwraiths,the Ulairi, the Enemy’s most terrible servants; darkness went with them, and they cried with the voices of death”
Unquote
[i]Our leaders are not our parents whom we can trust completely, without a need for justification. [/i]
even our pap government didn’t trust our PARENTS as well
if they have trusted them
would the pap government delayed in their cpf savin$ withdrawal$?
do you want a justification from the cpf board?
hate to say that all our entire cpf savings has indirectly been hijacked by who we all know, but then again, who allows them to do this upon us?
88)Precisely, SRN is a human and he may go any time any moment (with reference OTC) then the Gahmen can conveniently sweep under the carpet, as it is the President that authorize the use of reserve not them. So even all the reserve is used and the jobs are not saved in the process Singapore sinking further into recession is not their fault.