Tuesday, November 11, 2008

Integrated Resort Disintegrated?

I was reading BothSidesOfTheJohorStraits on "retrenching ministers" and I can't help commenting.

Here goes:

Love what you wrote!

I'm with you!

In this austerity drive, Mayor Teo Ho Ping who invested peasants money in Lieman's MiniBonds/HighNotes through Town Council's Conservancy Fees with "EYES OPENED" should be retrenched too. Same goes with other MPs in Town Councils who bought such toxic financial products!

Oh, the 'add insult to injury of YOU WALK IN WITH YOUR EYES OPENED' comment will create unhappiness and draw much curses from investors and non-investors alike for the lack of sensitivity for the pain and suffering of those who lost! Well, being in Ivory Tower for more than 40 years does take its toll on humility and the humanness of being.

With smiling fat cats taking care of their own, starving peasants can only suck thumbs and watch the self-glorifying and "pass the buck" leadership continues with the wayang and nonchalance with the losses! What type of heck-care attitude is this?

Whatever right that's wronged, WKS is not to be blamed for Mas Selamat Jalan (walk) and all victims of the Lehman Bros collapse in S'pore are blind except those in PAP who did it with sinking funds of Town Councils! What a s(t)inking feeling!

It's not what you did. It's who you are and your affiliation to PAPOWER that decides whether you are blind or have 20/20 vision in investing and other decision making.

Anyone wonders if Singapore Pools will combine with CapitaLand to take over bleeding Sand's Gambling Den (or is it DisIntegrated Resort?) at Marina?

I do.

Btw, the chase is on to attract more $$$ to CPF to support Temasek and GIC. GCT tried to sell again when he said putting money in CPF is much safer than MiniBonds. True except that you don't know when you can withdraw money from CPF. It was 55 then but now it's God knows when! The goalposts keeps moving in the shifting CPF Sand. Then again we cannot blame him for trying with the latest collapse of ABC Learning Centre in Australia with last years' Temasek's investment of A$400 million disappearing with it!

Well, somebody has got to feed the bleeding Temasek and GIC? With Sand sinking, peoples' money will be helpful in building gambling dens of 1,000 gambling tables, up from 600! We sure are Bersatu Padu Begerak Maju (Staying Together Moving Ahead). Aren't we?

Town Council's Sinking Fund in Lehman's, Suzhou, Thaksin's ShinCorp Manchester City Football Club, Temasek's ABC Learning, billions in UBS & Merrill Lynch and what-have-you . . . you, me and SingaSuckers have to pay for it!

No free Lunch?

There is for FAT CATS!



At November 13, 2008 at 11:07 AM , Blogger family man said...

Yes, our investment by Temasek Holding in Australia Childcare centre has also disintegrated!

Our CPF monies is looking more and more like a Minibond structured deposit. We do not know where the money goes to and how much is lost, and we have no choice in taking the money out of that 'investment'.

And considering our town councils went into Minibonds 'with their eyes open' I wonder what other mini-bombs lie ahead.

Meanwhile our govt continues with the high price policies, refuses to reduces electricity tarrifs so as to prevent prices going down, leading to deflationary effect - something they dread. Why? cos a lower prices / lower cost of living will lead to GDP - the lifeline to all MINISTERS PERFORMANCE BONUS.

Look at Malaysia, trying to lower cost of living for Malaysians

Singaporeans? Keep the price up, but give SAVE U vouchers


At November 13, 2008 at 11:16 AM , Anonymous Anonymous said...

talk about passing the buck -

MAS has appointed Deliotte and Touche to look into miselling of minibonds - wah - these kind of things also can wash their hands and 'subcontract' out one ah....

About time we subcontract our ministers to other consulting firms and stop paying top dollars to ministers (so they can subcontract touchy issues and not face them - crying shame)

At November 13, 2008 at 12:34 PM , Anonymous Anonymous said...

Just like the privatisation exercise, the point is to avoid touchy issues, but keep the million dollar salaries. Hence the privatisation of hospitals, transport, utilities, coupled with the outsourcing of security. Any slip-ups and the blame never goes back to them. Ingenious!

At November 13, 2008 at 1:52 PM , Anonymous museum watchman said...

disintegrated resort can be converted into a mausoleum for the
oldfart. pyramids for the ancient pharoahs are acknowledged as one of the seventh wonders of the world.
Lee Con You mausoleum can be the eight wonder.
Lee Jr can join him later or even together is fine by me.

At November 13, 2008 at 1:59 PM , Anonymous Anonymous said...

MM says you want high interest compared to Fixed deposit, you go i with your eyes open.

So all those who are not contributing to CPF better think twice. You want the 4% in ord account, you better think twice. go in with your eyes open.
ABC learning Centre
Merrill Lynch
UBS bank.

CPF also like minibonds - once put in - wait long long.

Maybe no money back,

At November 13, 2008 at 4:38 PM , Anonymous tewniaseng said...

better retrench a few ministers to save cost. one minister can work a few portfolios just like MPs can cover their collegue in GRC if the other MP dies.But it won't work because our ministers work for money only not serve the people whole heartedly.

At November 14, 2008 at 9:38 AM , Anonymous Anonymous said...

DBS bank retrenched their directors in today's strait times.

Yes, it is time to retrench some multi million ministers too.

SM Goh, MM Lee, Lim Boon Heng and Lim Swee say.

I hope PAP govt will help Singapore save money in view of the recession.

At November 14, 2008 at 4:13 PM , Anonymous Anonymous said...

Anon 5.38pm

You mean ask the son to retrench the father and the holy ghost? Oh no, the son needs the two old men to hold his hand. The old man will say 'over my dead body'. That's about it.

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