tag:blogger.com,1999:blog-17473688.post2469996537358007855..comments2024-03-28T17:31:22.152+08:00Comments on My Singapore News: A system of crooksChua Chin Leng aka redbeanhttp://www.blogger.com/profile/11743716923635835397noreply@blogger.comBlogger15125tag:blogger.com,1999:blog-17473688.post-28796586249702368012010-03-16T09:21:58.851+08:002010-03-16T09:21:58.851+08:00Actually the Americans have never missed their goo...Actually the Americans have never missed their good ole days. Then is was shooting at Indians. Today the choice is much wider, from Arabs to Afghans and possibly Asians on the cards.<br /><br />They have legends like gunfight at O K Coral or something like that.Chua Chin Leng aka redbeanhttps://www.blogger.com/profile/11743716923635835397noreply@blogger.comtag:blogger.com,1999:blog-17473688.post-24825283355094342332010-03-16T01:27:04.931+08:002010-03-16T01:27:04.931+08:00The Americans are waking up though many will miss ...The Americans are waking up though many will miss the good old days and the wonderful old ways. Most are religious and god-fearing, the only trouble was, they were not afraid of sin.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17473688.post-22370546677505345812010-03-13T10:31:39.314+08:002010-03-13T10:31:39.314+08:00America is ripe for Communism. Don't think thi...America is ripe for Communism. Don't think this is impossible. It was impossible for China and Russia to become Capitalist.Chua Chin Leng aka redbeanhttps://www.blogger.com/profile/11743716923635835397noreply@blogger.comtag:blogger.com,1999:blog-17473688.post-79077940451239763262010-03-12T16:33:44.567+08:002010-03-12T16:33:44.567+08:00"The American regulators are waking up.... &q..."The American regulators are waking up.... "<br /><br />Doesn't matter how many times they will say that they are waking up, the fact remains that they have been sleeping with the crooks all along. <br /><br />The regulators are just showing the American public and the world that they are closing the front door, but will just let the crooks out by the back door. <br /><br />The Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17473688.post-38722609713052265492010-03-12T12:17:36.837+08:002010-03-12T12:17:36.837+08:00Again, a wayang.
America thrives on cheating, sca...Again, a wayang.<br /><br />America thrives on cheating, scamming, conning and fighting. Take that away and you take away the very spirit of America.<br /><br />Just bear with it and ride along like I do. Don't fight the system. Go with the flow.Wally Buffethttps://www.blogger.com/profile/15310530661689310446noreply@blogger.comtag:blogger.com,1999:blog-17473688.post-70889007475055561102010-03-12T12:10:42.675+08:002010-03-12T12:10:42.675+08:00The American regulators are waking up to what the ...The American regulators are waking up to what the robbers have been doing and is trying to rein them in from their excesses and cheating ways.Chua Chin Leng aka redbeanhttps://www.blogger.com/profile/11743716923635835397noreply@blogger.comtag:blogger.com,1999:blog-17473688.post-75255785688195557272010-03-12T11:38:19.965+08:002010-03-12T11:38:19.965+08:00Agree risks must be adequately disclosed.
I did n...Agree risks must be adequately disclosed.<br /><br />I did not buy any of the minibonds, derivative products etc.<br /><br />I think the issue is that risks are disclosed but perhaps the disclosures could be made more clearly.<br /><br />If the seller has disclosed to the buyer that his returns is based on whether Lehman goes bust or not and the buyer still decides to invest because he thinks Robert Tannoreply@blogger.comtag:blogger.com,1999:blog-17473688.post-34367671145829640442010-03-12T11:35:09.893+08:002010-03-12T11:35:09.893+08:00Toyota's shortcomings were made glaringly appa...Toyota's shortcomings were made glaringly apparent more by media hype than anything else.<br /><br />Every manufactured product has a flaw, same as every walking human being is flawed. The difference is whether the flaw is discovered and how for certain reasons they are being made into mountains from molehills. I am under no misconception that the car I drive is flawless even if it's Wally Buffethttps://www.blogger.com/profile/15310530661689310446noreply@blogger.comtag:blogger.com,1999:blog-17473688.post-73174224788183702462010-03-12T11:27:55.928+08:002010-03-12T11:27:55.928+08:00Do we agree that the seller must sell a service or...Do we agree that the seller must sell a service or product that is of an accepted quality? Do we agree that the buyer of a product can expect a certain level of quality?<br /><br />I think the Toyota case is a good example of the standard expected of seller and buyer's right. When the product is faulty, the blame is solely on the seller.<br /><br />As for selling high risk products, the risk Chua Chin Leng aka redbeanhttps://www.blogger.com/profile/11743716923635835397noreply@blogger.comtag:blogger.com,1999:blog-17473688.post-39987314174915528962010-03-12T11:27:39.791+08:002010-03-12T11:27:39.791+08:00Monies returned to losers in the toxic bond fiasco...Monies returned to losers in the toxic bond fiasco were made based more on political reasons rather than equity. There was no equity to speak of in the first place. It's all in the contracts, black and white and you signed on the dotted line.<br /><br />Similarly, a guy like Madoff had to go to jail to appease the public baying for blood. It's either a fall guy or social disorder. Take Wally Buffethttps://www.blogger.com/profile/15310530661689310446noreply@blogger.comtag:blogger.com,1999:blog-17473688.post-32469308843338051962010-03-12T11:16:48.374+08:002010-03-12T11:16:48.374+08:00I think all of us agree that the crooks must bear ...I think all of us agree that the crooks must bear the consequence.<br /><br />The issue is whether the victims should get awat scot free.<br /><br />I think whilst some victims are 100% innocent, many are not so clear cut.<br /><br />And where the victims are partially at fault, they must learn to be gracious enough to admit that they also contributed to their loss/suffering and not always push Robert Tannoreply@blogger.comtag:blogger.com,1999:blog-17473688.post-66770095529677994242010-03-12T10:59:43.505+08:002010-03-12T10:59:43.505+08:00Wally, if your reasoning is acceptable, then there...Wally, if your reasoning is acceptable, then there is no need to return any money to the losers of the toxic bonds. And Madoff needs not go to jail. It is the folly of the losers. Now I understand why the losers of billions take it squarely.<br /><br />The casino is fairer and more respectable than many of the financial products and systems. They are upfront with the odds and the gamblers know Chua Chin Leng aka redbeanhttps://www.blogger.com/profile/11743716923635835397noreply@blogger.comtag:blogger.com,1999:blog-17473688.post-7081240994865874722010-03-12T10:41:16.354+08:002010-03-12T10:41:16.354+08:00In the first place, no one pointed a gun to your h...In the first place, no one pointed a gun to your head to say you must invest. You, after having made due diligence is supposed to know what you are getting into. You can always put your money under your pillow or invest it in a pig farm.<br /><br />All investments, even bank deposits which are supposedly "safe" comes with risks. The higher your income expectations, the higher the risk Wally Buffethttps://www.blogger.com/profile/15310530661689310446noreply@blogger.comtag:blogger.com,1999:blog-17473688.post-68838274549897624182010-03-12T10:20:37.721+08:002010-03-12T10:20:37.721+08:00Up to a point, buyer's beware can work. But wh...Up to a point, buyer's beware can work. But when the big boys abused their position of trust to fleece the innocent and ignorant, it is a different matter altogether.<br /><br />The man in the street can expect some standard of ethics and fair play from the big boys, and the regulators are there to ensure that it is not a one sided game. To think and accept toxic products for sale, no matter Chua Chin Leng aka redbeanhttps://www.blogger.com/profile/11743716923635835397noreply@blogger.comtag:blogger.com,1999:blog-17473688.post-73908660362784972482010-03-12T09:36:09.432+08:002010-03-12T09:36:09.432+08:00Both parties are to blame - the crook and the gree...Both parties are to blame - the crook and the greedy or ignorant "investors".<br /><br />I believe all crooks need to be reined in and be made accountable for their actions.<br /><br />I also believe that individuals must also take responsibility and be held responsible for their own actions.<br /><br />True, sometimes, a victim is truly helpless and faultless. But when one examines Robert Tannoreply@blogger.com