Time for a petition to the govt

The motorists must do something to prevent the motor insurance companies from reaping them off with the reckless increase in insurance premiums. Many motorists have clean driving records and the NCD is supposed to recognise this by reducing their insurance premium. Instead, their insurance premiums are now ever higher than before. How can this thing be allowed to go on and nothing can be done to it? Is there any govt organisation that can put a stop to this mindless daylight robbery? It is time to petition the govt for action. Innocent motorists cannot just keep quiet and let the insurance companies imposed whatever premiums they deem fit when the high cost is not due to these motorists. Can the govt agencies do something immediately? There is no point in talking cock and wasting time. Action is needed now. At least freeze the rate to last years and talk later.

Victims of ethics

Madam Chiang Meng Lee wrote to ST about her involvement in an accident which was clearly the fault of the other party and a few days later a legal letter came accusing her of being the cause of the accident. I too had such a case in the past when a reckless taxi driver swerved into my lane. And I was accused of causing the accident. This kind of tactic, to point the guilty finger at the other party cannot have come from the drivers but must come from other interested parties. Whoever offered such advice must be totally devoid of morals and ethics. The main intention is to win even if turning the table against the innocent parties. This is how dark our society has become. And if one does not have the money to engage an equally good lawyer and pay through your nose, just too bad. Be prepared to become the victim and pay for all costs, including legal cost. Yes, our judicial system is fair to all, but conditional that you have more money than the other party. Where is the ethics?

Money or your life?

This was the infamous catchphrase of the 60s and 70s when the island was infested with triads and secret societies. It was a common occurrence to find a knife at one's throat while walking alone and the phrase, 'money or your life' would threaten the intended victim. Many would just have their wallets emptied and walked away a few dollars poorer. Today, 'money or your life' has taken a new meaning. The amount is much much bigger. And the victims were not healthy people walking alone at night, but walked with a whole entourage of family members into a posh hospital. There, the extortionists were not the gangsters or triad boss but clean and sophisticated professionals armed with the best medical degrees from the best medical universities. And if the potential victim happens to be suffering from a critical illness, it is as good as hearing the catchphrase, 'money or your life' being repeated. And they are not asking for a few dollars. It can be in the hundreds of thousands, or several hundred thousands of dollars. But there is a big difference between the gangster's demand and the demand by the professionals. After paying the gangster, the victim walked away alive, though a bit shaken. In the other case, they may go home in a casket after paying the huge ransom. There is no guarantee that after paying the money asked for that his life will be safe. Money or your life, or maybe money first, then we see how it will go.

S Chips in the news for all the wrong reasons

Well, after warning about the corporate governance and trustworthiness of S Chips, finally the old media is catching up on this act. Two reports, one in the ST by Yang Huiwen and another in Today by Conrad Raj, posed the same concern about the dangers of playing with S Chips. At the rate the S Chips are turning turtle, just give another couple of them going into the rubbish dump, I think it will be enough for the investors to dump them completely. They are looking to become so wild, as wild as the days of Malaysian Clob shares. Be warn. Tread with care. We have very little control and knowledge of what is going on. For those who are not in stockbroking, S Chips refer to Chinese stocks listed here. Now the there is a new version of this which refers the S Chips to Scam Chips.

The ingenuity of Wall Street thieves

They knew that the outrageous bonus game is over. So they have come to terms with it and decided not to pay huge bonuses any more. But pay themselves well is something that they must do, by hook or by crook. Their new game plan is to pay out front. They will raise the basic pay of their CEOs and senior management by as much as 70%. So a CEO who is getting US$180k will have his basic pay raised to $300k. This kind of robbery is only on the personal side. At the corporate level, they have been hookwinking the Obama govt that all of them are going bust without a bailout of several tens of billions of dollars. But the moment the Fed decided that they could not pay indecent bonuses when receiving govt bailout fund, they started to tell the govt they don't need the money, they are starting to make profits, and one even want to return the govt money immediately. These are the exceptional talents of Wall Street. We must be salivating to welcome them on board as shining examples of out of this world super talents. America main street and Europe need a revolution to rid the country of such thieves.