8/27/2011
Stock market or casino?
The Australian Stock Exchange has made the most innovative decision to appoint the CEO of a casino as its head. They must have come to realise that the stock market has in all counts nothing but a casino. And they need a casino man with his experience in running a gambling den to manage it. Also, for a gambling den, the strong regulations are vital to protect the customers from being cheated.
In the same page of the ST today, the SGX was reported to tightening its enforcement of errant listed companies. It wanted to do more to prevent more failures. It would apply its rules and regulations to the letter and spirit.
Good sayings, and the problems are always with other people. Has the SGX contributed to the problems, or is the SGX the problem itself? Is there a conflict of interest in its pursuit of profitability and thus violating its own rules and regulations to the letter and spirit?
The introduction of high speed trading, programme trading and the plugging of these super computers into the trading system to trade against the small investors, is this fair trading? Is the playing field level as this is the key principle and spirit that the SGX is to uphold? Then there is the Dark Pool which violates the principle of transparency that is also another key responsibility for the SGX to uphold.
Has the SGX been operating under the same principles and rules and regulations that it is legally bound to uphold? If it doesn’t, who is there to ensure that SGX does according to its mission and role as the operator of a profit making body and its own regulator?
This is another case of who is to regulate the regulators and protect the innocent customers?
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4 comments:
No gambler no casino.
Losing ones' money
and watching it(money)
goes with eyes wide
open with involuntary
urges to play more is
the problem of the
gambler, not the casino.
When regulation is
needed, it is sign that
the business is not
wholesome.
When regulators are
ineffective, it is
likely that there is
negligence and or
corruptions.
Happy voting for a
president, useful
or otherwise.
patriot
The rulers of red dot wants to make sure Singaporean gamblers don't lose their money overseas. They know Singaporeans are mostly gambling addicts. The only thing that 60% of them don't gamble is at the ballot box, being kiasu and kiasi. Die die must vote PAP.
Drug lords thrive on drug addicts dependence on drugs. Singapore Govt thrives on gambling culture of Singaporeans, that is why they build the casinos and promoted gambling vigorously by introducing all manner of betting at the 4D outlets.
Forget about the regulators of the stock market protecting investors.
The stock market has caused singaporeans to lose millions and millions of dollars. It is worst than the lemon bonds. Got to wait for Tan Kin Lian to come out and save the stock investors.
Old uncles and aunties losing their life long savings. So wicked.
I bet there are many remisiers reading your blog. I bet none will dare to utter a word. They are all hoping that someone else will fight the battle for them.
Redbean, don't waste your breath for a bunch of selfish losers.
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