How daft can Sinkies be? V1.1

Their forefathers came to build this little colonial outpost to what it is today only to be told that they lacked talents. Then comes the importing of foreigners who could not help their own countries, runaway from their own countries, to come here to rule the Sinkies.

And with the most advanced and highly rated schools in the world, with the best facilities, the daft Sinkies claimed that they are daft and needed the talents of half broken down schools in third world countries to come here and help them.

And being the most advanced financial centre in the world other than the European cities, we could not produce any talents to run our banks and needed to import foreigners who came here to learn the ropes, to run our banks. To add insult to injuries, the banks that we have today were built by the so called no talent locals. And now, after they have built the banks to such a size some declared locals are not good enough to run them. And foreigners who have not run them, never built a bank, are deemed good enough, better than the locals. They are still wearing their blinkers and not seeing that western bank managing methods and processes are mostly fraudulent, gambling and taking high risks on fictitious products and derivatives that will risk the bank going bust.

And we formulated policies in favour of foreigners and detrimental to the locals without even knowing it until the daft Sinkies could not take it any more and started to vote against the govt.

And whenever there is a problem, money will be thrown around the world looking for foreign talents to come and solve them. Our parks, resorts, golf courses etc can only be managed by foreigners or they will be in ruins. Big corporations too. NOL is selling its flagship HQ because it is running into the red with foreign talents. Who else is making big losses with foreign talents running the ship?

And now all the half baked foreigners are strutting around despising the locals, and the daft locals really believe that they are inferior. Who can blame them when the foreigners have ended up being their bosses and bossing them around?

Socially, the foreigners also feel so free to beat up the locals at their whims and fancies and what did the locals do? Everyone turn the other way, very happy that the person being beaten was someone else. They are safe without knowing they could be next.

And the locals pledged themselves to serve and protect the country and the foreigners and their super expensive properties while they live in small but expensive public flats if they are lucky. If not, they would not even be eligible to buy public flats to live in. And more ridiculous, some locals ended up having to rent a room from the foreigners to stay. Brilliant inclusive policies that are Sinkies first, foreigners last. The daft Sinkies did not mind being discriminated in their own country. Sinkies with no homes because govt policies excluded them while foreigners are happily buying homes to rent out to them. Can you believe it?

Tell me, how daft can the locals be? The daftness is at the top or at the bottom, or at all levels?


Anonymous said...

In fact all the good blue chips companies and institutions were built up by daft sinkies only to be told that they are not good enough

Anonymous said...

Agree with you. Perhaps we should reinforce the idea that Singaporeans will always come first in the next National Day. This has be lacking for so many years.

Veritas said...

We are already in caste system invented by neo-Hindu cult master guru Lee Kuan Yew. Singaporeans however good cannot be allow to ascend. All shit and blame however unfounded must be thrown at Singaporeans. Singaporeans, the hardest working people with the highest IQ are labelled daft and lazy. Singaporeans are now neo-dalits.

The neo-Brahmins such as PAP, FT are screw Singapore up big time are deemed clever and talent. They are showered with $$$ salary for their work in screwing up Singapore.

Anonymous said...

They tried very hard to get rid of father and son in UOB, not fit to run the bank. What a joke!

Anonymous said...

Today's modern banking is not about conservative banking method of earning a bit of interest rate. It is about fixing LIBOR, SIBOR without being caught, about gambling with derivatives, cooking derivatives to sell, about selling unwanted stocks and derivatives to cheat the client's money.

The method of father and son, too conservative, cannot make money fast enough to pay multi millions to the top western managers to splurge.

The only thing good about father and son method is that it would not go bust so quickly and would not be robbed by the bank executives paying themselves crazily.

Anonymous said...

This is one way, the family is telling you that they are the ones controlling your lives.

Anonymous said...

One ministry lose a bit, another ministry makes a killing.

Veritas said...

PAP is dead wrong about management style. Under right circumstances, family business are better run than professional managers. The bulk of Germany's hi-tech are family business. Family who own business are less likely to take unwarrented risk and pay their managers crazy $$$. The are likely to make long term plan,

On the other hand, numerous cases has shown that professional managers' propensity to steal and deliberately bankrupt a company. This is especially true in bank.

This is what Nobel price laureate say about looting by managers.

In 1993 Akerlof and Paul Romer brought forth Looting: The Economic Underworld of Bankruptcy for Profit, describing how under certain conditions, owners of corporations will decide it is more profitable for them personally to 'loot' the company and 'extract value' from it instead of trying to make it grow and prosper. IE:
"Bankruptcy for profit will occur if poor accounting, lax regulation, or low penalties for abuse give owners an incentive to pay themselves more than their firms are worth and then default on their debt obligations. Bankruptcy for profit occurs most commonly when a government guarantees a firm's debt obligations."

Yves Smith argues in her book "Econned" that Akerlof and Romer's "Looting" theory applies to the subprime mortgage crisis and the Financial crisis of 2007-2010. She argues that the 'Looted' companies in this case are banks and others who were 'looted' by certain traders and executives within those companies.

Since the beginning, PAP has tries very hard to get foreigners to loot our own business man, and wealth.

Anonymous said...

It is so easy to run down a company by paying themselves crazy. Then with the same money, offer a management buy out at fire sale price.

It is also interesting to find out who is looting the countries.

Anonymous said...

Yes hdb loss is sla gain

Anonymous said...

60% of Singaporeans are dafts.
Only 40% are not dafts. They are clever and well informed.

Chua Chin Leng aka redbean said...

If you guys are familiar with the Communist Manifesto or remember what I posted several times, this is a stage Marx described as the Dictatorship of the Proletariate. At this stage, the workers that have usurped power and control of factors of production, including businesses, will rob them for their own good. The workers did not own these businesses and factors of production in the first place. They belonged to their shareholders whose control has been diluted by the management/workers in charge, and could not do anything as minority shareholders.

It is happening in the west when all the too big to fail banks and financial institutions, including MNCs, have been robbed clean by the top managers and executives.

Just open your eyes and you will see robbers everywhere, robbing in broad daylight. Final pages of the Animal Farm in real life.

Anonymous said...

Wee Cho Yaw and son are still in charge and this robbing will not happen in his company. They are the real owners and would not rob their own company. Unless they lost control and 'professional' managers came in to start robbing.

Gintai_昇泰 said...

All at levels. Name me a country on this earth that they bring in nearly 40% foreigners to dilute, erode and eradicate our own indigenous people's identity? Only in a war where the weaker side lost when the victorious army move in to commit mass rape on local women and kill able bodied local men in order to dilute, assimilate and "bastardise" the locals. This is to ensure complete assimilation to the victorious country. Here, we are doing it willingly on own accord. Is it not a sign of "daftness?"

Anonymous said...

Why? Is because UOB not yes man?

Anonymous said...

No one can rob a company if the owner is still around and in charge. Look at Barclay, Citi, Lehman, etc etc.

Matilah_Singapura said...

Although human beings are adaptable, and their ascent has been due to change, humans themselves are incredibly resistant to change.

Changes cause human emotions to go into overdrive - - the the "self preservation" mode is heightened. "Foreign" means "threat". Change means some "destruction" of old comforts and cozy cultural paradigms.

Eventually all the kicking and screaming will subside.

In the meantime, I'll just kick back and be entertained by dumbasses chasing their tail.

Got encore?

Anonymous said...

Need a dose of bad govt? Look no further.

Chua Chin Leng aka redbean said...

Hi Gintai,

Many already said that Sinkieland is already invaded. It is like a piece of corpse filled with maggots inside but painted beautifully from the outside.

The said...

/// Anonymous said...
They tried very hard to get rid of father and son in UOB, not fit to run the bank. What a joke! ///

Yup. And guess with local bank has the best ROE and ROA?

OTOH, DBS was almost screwed to the ground by a succession of so-called useless Fallen Talent.

The said...

Guess which local bank has the best ROE and ROA?

Chua Chin Leng aka redbean said...

Hi The,

New management practices in the US and Europe are simply frauds and gambling disguised as sophisticated products and practices. Serious real businesses cannot generate that kind of crazy profits except through cheatings and cooking the books.

How else to pay those robbers tons of money for doing nothing? Each turkey at the top is demanding tens or hundreds of millions annually. How much hard work is needed to make that kind of profits?

Veritas said...

New management practices in the US and Europe are simply frauds and gambling disguised as sophisticated products and practices.

Wait a minute, are you refering to Temasek and GIC?

Anonymous said...

The best schools producing so many straight A students but mostly useless when comes to working.

Anonymous said...

Believe it.

Most Sinkies are loyal
are prepared to sacrifice
to sink
together with their Rulers.

Anonymous said...

It is reported that Robert Diamond, CEO of Barclay, earned $240m in his 7 years with the bank or more than $30m annually. He is supposed to be paid another $40m of severence pay after resigning. He has since volunteered to give up this $40m.

How much and how hard must the bank staff worked for the bank to earn $30m a year? This turkey thought he deserved it and his croonies abetted to pay him this sum while his croonies could also be paid a hand some, as a group, probably more than this sum. The bank in total could be paying $100m annually to the CEO and the board of directors.


Veritas said...

Frankly speaking, the father and son gang also abuse share holders la. They have too much of shaddy cross holdings in various companies, to take control of much larger companies.

This is common practices among Asian tycoon. And the profits from public companies are tranferred to 100% family owned private companies. .

Whether the father and son gang transfered profit to their private vehicle or not, I have not done any research on it, but such practices is extremely common in Asia. But Wee family is certainly a big player of cross holdings.

Don assume they are pure virgin.

Chua Chin Leng aka redbean said...

They built the business, fairer that they be rewarded. Why let in the robbers to rip it apart when they contributed nothing.

As their family heirloom, they have vested interest to keep it strong and viable for generations to come. Keeping them as going concerns are much better than converting to paper money that could turn into banana currencies any time.

The robbers would like to strip it and sell off everything, or buy it for themselves.

Veritas said...

Father and sons could be dis-honest businessman who involve in too much shaddy deals. This is our own internal affairs. It is Singaporeans own duty to give greedy shylocks a few kick. Anyway, banksters are greedy on the first day the occupation is born, since the dawn of civilization.

But to let FT taking over our banks are worse. Citibank is a good example. Before, citi is already a shitty bank. After racist FT Indian Vikram Pandit take over, it is now the worse TBTF bank in USA, feeding those Indian blood suckers (including those racist working in CBP singapore), funded by US taxpayer monies and by fraud against the whole world.

While I think Wee family has not live up to standards of entrepreneurs like Bill Gates, there are other way to reform them instead of kicking them out of their companies, and to replace them by managers, not to mention FTs.

Matilah_Singapura said...

Expat Blogger calls Singaporeans 'stupid'

>> "But Singaporeans really are frustratingly stupid.

Fortunately their birthrate is only about 1.25, so they will all die off soon enough."

Gold. Pure...Comedy

Anonymous said...

Singapore government should not assume that it can take in as many
immigrants as continental America or Australia which are huge land
masses consisting of many millions of square kilometres. Even then
America and Australia are very selective in their immigrant policy
which favour the Caucasian stock . On hindsight if the founding
members of Singapore had the intelligence and wisdom they should have
negotiated with colonial imperial Britain for merging Sabah, Sarawak,
Penang and Malacca as one separate political entity from the Malay
states of Malaya. Had it been done today we will have no problem with
the ultra racial extremist in UMNO and we will have more space to
accomodate new immigrants. As it is now Singapore is so small as a
tiny red dot it is already sinking and so how can it take in any new
immigrants. The government is not in sync with the people's thinking
and unless it has other ulterior motive it should heed the people's
genuine concern.