No shame, no guilt, no remorse

Did anyone notice any sense of shame, any feeling of guilt or any hint of remorse? Any sensible person faced with such blatant and outrageous acts of impropriety would have long said, enough, can’t take it anymore, run away to hide, and not to face the world again. But no, there is nothing wrong. Everything is justifiable, can be explained and is reasonable or normal. I am above the law, above all human norms and behaviour, nothing can stain me. I have done so much good, so much merit, whatever things that I have done were mere little indiscretions. No, not indiscretions, they are normal acts of a human bean and I am a normal human bean, with all my greed, lust, and extravagance. The above probably explain why all the shit were allowed to be aired in public over so many days, for all to see. Is there any decent man kind enough to advise the tart that the whole thing is so ridiculous it is better to call it off immediately, not even to have it started in the first place? Anyone with an ounce of intelligence could see the senseless nature of the whole proceedings. But no, it must go on public record that I have done no wrong. I am beyond reproach, and if I have done anything stupid, they are excusable as I have done big things and done great things. All the great things that I have done must be enough to mitigate the little silly things that I have done. Oops, whatever I done were not silly or wrong. I have done no wrong. That is why I am standing here facing the music. For no dirt or shit can stain me. Oh come on, spare the people and the teacher and the truth from being tarnished by your stupidity. Or have we reached a stage when all the rich and powerful believes that with money and fame, there is no fear of shame, there is no shame as long as your bank account is full of money.

Peeking into stock orders 'an unfair advantage'.

'The hallmarks of our markets are that they are open and above board, and the little guy has as much of a chance as the big guy.' - Senator Charles Schumer, Chairman of the Senate rules and administration committee. What is happening in Wall Street and many stock exchanges across the world where the hedge funds are operating is that they tapped into the main exchange operating system to peek into stock orders from other investors. This gives them a 0.03 sec lead time to compute and place their orders to take advantage of other investors with their powerful computers. According to the Tabb Group, it reported that these high frequency traders accounted for more than half of all the trades and pocketed 'about US$21 billion in profits last year. Who lost? Schumer wants a stop to such advantage against the small investors and wants to prohibit trading by high frequency traders. Well, the Americans have some decent man to call a thief a thief. There is conscience to do right and justice. Do we have such high frequency traders trading here and taking advantage of the small guys? If there are, what are we going to do about it? Or why did we allow this go on for so long? Fair game? Caveat emptor? This is worst than minibonds! Are we fair to the small investors? If billions have been lost by the small investors because of such malpractice, who is going to pay for it? No one is responsible for sure. Does anyone know what is happening?

An old story rehashed

He was a botak, with short crew cuts, not the stylish marine type. A typical Chinaman style, nothing fashionable. He wore a short sleeve white shirt, and probably a pair of China brand leather shoes. His office was just as spartan. Outside his office there would be a queue of well dressed western gentlemen in fine business suits and expensive briefcases, waiting eagerly to meet him. Once in his office they put on their best manner to present what they want, to sell to this Chinaman. The boorish, apparently ill mannered Chinaman would stroke his botak head, dug his nose or popped up his denture occasionally, while listening to the elaborate presentations. He controlled a war chest in the multi millions, to buy expensive equipment. The polished and well dressed gentlemen were there, eager to please him, all for his nod to get to his money. Yes, they came for his money. The moral of the story is that when they want your money, they will queue up and be nice to you, no matter who you are. You can be a little dictator, a military junta or a cruel monarch, they will come to please you to part with your money. We have plenty of money in our sovereign funds, and in our stock markets. We need not go around the world begging the thieves to take it. They should be the one begging for the money. We need not live by their rules and dictation. Why should we employed an Angmo to front our SWF or other set ups that we paid for? Because the thieves said so? Because the thieves demanded that it be so or else they would not want to take our money? Just like the stockmarkets around the world, the thieves and robbers will come if there is money to make. There is no need to bend backwards to accommodate them, to play by their rules, or rules designed and determined by them to their advantage. We have the money. We have money flowing out of our pockets. We need not be beggars, to plead with the thieves to come and take it. They will come. When they said no, they do not want your money, they are bluffing.

Can students assume that all is ok?

With the closing of Brookes Business School and its subsidiary school, can students attending classes in all the existing private schools feel secure that they will not get into the same problem as those from these two schools? Case's Executive Director Seah Seng Choon has explained that CaseTrust is just about protecting the fees students paid and welfare practices. The role of ensuring academic excellence is the responsibility of Spring Singapore. In 2004, EDB's press statement said that an accreditation council was supposed to be set up. This somehow did not materialise. Can we assume that all the private schools thus did not go through a screening process to ensure that what they claimed were genuine and that all of them are sound and proper? A new regime will be set up under EduTrust to regulate private schools and the quality of the services they are providing. Until then, Case is stepping up to check on private schools to see that all is in order. There is a lapse of 5 years of free enterprise when everything goes. 5 years of caveat emptor while the foul smell was floating around and with several other incidents and several schools closed down. What a pathetic state of affair that was allowed go on for so long without any body stepping in to protect the students and the image of a reliable and world class education hub that we are building. Can students assume that everything is ok now?

What the govt is looking for in a govt scholar

What the govt is looking for in a govt scholar Below is a quote by Eddie Teo, PSC Chairman, on what the interviewers will be looking for when interviewing potential scholars. He advised the young interviewees to be themselves, to be critical and sceptical. And this is what he meant by that. ‘Being critical means you care about our nation and want to improve things and correct what you think is wrong. Being sceptical means you are not naïve and do not accept everything you read or hear.’ He also added that the PSC ‘is not looking for conformists or yes men …but people who dared to think and question existing policies’. With so many people calling me naïve, I sure fail miserably if I were a young man applying for a scholarship. But the motherhood statement is a very nice ideal to live up to. It would be nice if the people recruiting scholars really believe and practise what they preached. I think they do. The problems come only when these highly idealistic young people graduated and started their civil service careers. Would they continue to believe in such ideals and practise them? Look around, look at some (some only) of the farcical reasonings given to justify some of the absurb policies and decisions made, I think many would believe that such ideals are at best a myth. Or the recruitment process failed miserably in its ability to select the critical and sceptical into the service, the ‘few mavericks – people with unconventional viewpoints who are willing to challenge assumptions…(to) add vitality and diversity to the service’. What do we have and what do we see in public service? The minibond fiasco and the mess in the finance and private education industries are examples that say nobody cares nothing about our nation and about improving things. It is just a job with a clearly defined job description that comes with it. Where is the ownership, the passion and conviction in nation building? If it is not my job then it is not my problem. Running a country is not a job. Running a country is not simply about making more profits. It is about improving the quality of life of a people. What kind of life we want our people to live, cost of living and cost of not living. Are the people living when they have to spend a whole life working just to keep themselves alive instead of living life?

What integrity to protect the small investors?

We want fairness, fair odds to trade in the stock markets, to win and lose fairly. We demand a fair trading system and fair treatment from the regulators. No loaded dice in the stockmarkets. These are the minimum conditions that small investors should expect from the stockmarket trading system. Allowing a trading system to be loaded against the small investors is not only unfair, but CRIMINAL. It is a crime amounting to cheating or collaborating with the cheats to rip off the small investors. There is a very revealing article in the ST today, of course it must come from the gods in America, in Wall Street, from the New York Times. Our demigods and immortals are blind or ignorant to such revelations. Even if they do, they won’t make a whimper of it. The best they could do is to copy an article, like this article, and innocently push it out to the public. For what? To educate who? High frequency trading moves in blink of an eye ‘Critics say it offers unfair advantage over traditional trading.’ The big boys, hedge funds, are making millions and billions by the use of sophisticated trading systems and computer programmes to trade against the small investors. And the verdict is simple. They win and the small investors lose. Programme trading has been put in practice for many years with the consent of the regulators who knowing very well that it is unfair to the small traders. They are accomplices to the crime of robbing and cheating the small guys. Period. Not only that the big funds have technology on their side, the trading rules are also on their side, and aided by a big war chest, the unfair advantage they have over the small investors is unimaginable. Why were they allowed to participate in an unfair game where integrity, honesty, transparency and fair play are fundamental principles of the whole trading system? They provide volumes, they churn up volumes, giving the fictitious impression that the market is active and trading with high volumes. It was all a big farce. It was all programme trading that contributes to the high volume, buying and selling at the same time. Syndicates manipulating the stockmarkets are frown upon and apprehended for cornering the market, for market manipulation. Is programme trading in the same league? Where is the integrity to ensure a level playing field for all? Where is the integrity to protect the small guys? Or is it another case of immoral morality, exploiting the innocent small guys with a loaded dice?

Brookes duped? Not so, say ex students

This is the heading of an article in the ST about the case against Brookes Business School for issuing fake degrees from RMIT. The heading is appropriate. It is the school, Brookes, that was duped and in turn duped the students. It is the school that issued fake degrees. No human bean is involved or guilty of it. Brookes should be hanged. Would this be the natural finding at the end of the case?

New Singapore city waterfront

The financial district waterfront at dusk. 2nd pic shows the three towers of Sands Casino nearing their completion. They stand on the left of the waterfront pic and facing the Fullerton Hotel. The tower block with blue lights behind the Fullerton is the new MayBank building.

Stage for the National Day Parade

This is the floating platform in the sea next to the Esplanade. The NDP shows will be staged on this platform. The 2nd pic were performers on stage during a rehearsal.

Goodbye Mr Chip

I read a copy of Wall Street Journal's article on the departure of Chip Goodyear and the reason given by Temasek is "differences regarding certain strategic issues." Could this bungling be avoided from day one and not happen at all? The assets managed by Temasek and the interests and objectives are bound to straddle across strategic and highly sensitive area. How could these be screened away from a foreigner who is the CEO of the organisation? Could Goodyear be asking too much and wanting to know too much that the strain becomes unbearable? It is quite ridiculous to engage a foreigner to manage the strategic assets of a nation and believe that nothing sensitive will be divulged. Now, can we expect a kiss and tell autobiography or movie in the near future? The royalty fees is going to be quite substantial and irresistible.

The new way forward

The headline in the ST today, Surgeons cleared but hospital was negligent. This was about a case where the kidney donor died of internal bleeding after the operation. The judge found that 'the hospital had been "negligent and had breached it's duty" when it failed to monitor the patient during those 90 minutes after her operation. It was reported that during an autopsy it was discovered that 'clips had apparently slipped from her cut renal artery' and she died from internal bleeding. Who is the hospital by the way? So it is the failure of the hospital to do its job thoroughly. And the hospital is found guilty and has to pay damages and costs. This is very similar to the minibond fiasco when the parties found responsible and punished were organisations. No human beans were involved or responsible. This is a good way to go forward. No need to be personal, just blame the organisation and punish the organisation.

New citizenship – strike lottery!

Becoming a new citizen here is as good as striking lottery. The first thing they are going to receive is the GST rebates and maybe new Singapore shares when they are given out. Next, a bigger bonus will come from HDB. First time buyers will be entitled to a $40k grant. Tiok beh pio ah!!! And more govt subsidies in hospitalization and medical bills. Wow, bee tang! Membership has its privileges. What have new citizens contributed to the nation to be entitled to the full benefits of citizenship? Below is a petition to Obama that is circulating for signatures. SOCIAL SECURITY CHANGES It does not matter if you personally like or dislike Obama. You need to sign this petition and flood his e-mail box with e-mails that tell him that, even if the House passes this bill, he needs to veto it. It is already impossible to live on Social Security alone. If the government gives benefits to 'illegal' aliens who have never contributed, where does that leave those of us who have paid into Social Security all our working lives? As stated below, the Senate voted this week to allow 'illegal' aliens access to Social Security benefits. Attached is an opportunity to sign a petition that requires citizenship for eligibility to that social service. PETITION for President Obama: Dear Mr. President: We, the undersigned, protest the bill that the Senate voted on recently which would allow illegal aliens to access our Social Security. We demand that you and all Congressional representatives require citizenship as a pre-requisite for20social services in the United State s.

Silly thoughts and silly excuses

The departure of Chip Goodyear from Temasek has spawned a series of silly talks and excuses in all the gossip corners. There were things like globalisation needs a foreigner to front the unit. Now I know why we employed so many foreign talents. Or we need a foreigner to be more transparent. For this I will suggest just wearing a see through plastic sheet will be better. And, yes, if we want to invest in America, we need a foreigner, or better still, an American to show our sincerity. Shit, who would want to put more money into a country with an economy that can go bust any time or with a dollar that may turn into banana money. Now what else were reported? Oh, fine for attending meeting late. That must be a super talented idea. Saving money for the organisation. I will wait to hear more funny stories. But mind you, all these funny episodes do not come cheap.

That deadly deficit hangover

Tharman was talking about economic principles and the need for exit strategies and direct, targeted help. On govt spending and fiscal policies he warned that govts need an exit strategies for over spending or else the bubble will burst. This tickles my thought about exit strategies for the high property prices and the payback of our CPF money. What kind of exit strategies are there to prevent the bubble bursting, or to prevent the poor 99 lease holders from seeing their multi million dollar properties turning to 0 value when the leases expire? And the huge CPF debt owed to the CPF contributors, how and when would they be returned? Delaying payout, shifting the goal posts, more schemings, would only delay the problems but would not solve it. In fact the problem will only snowball unless there is a workable exit strategy to pay back when the money is due. The two nightmares that Singaporeans are facing are, one, when their properties, worth millions of dollars, become nothing. The second nightmare is when they realise that the CPF money is only a dream, to feel good, to be happy reading the numbers on a piece of paper and feel very rich. And yes, Tharman still thinks that it is a bad idea not to tax on basic necessities. It is better to tax on them and then targetted the money collected to those who need the money. An excellent strategy which I still don't agree. Just like the strategy of escalating property prices.

Don't compel if you can't guarantee

The govt is making CPF Life compulsory for CPF contributors by 2013. And it claims that the payout will be for life. But it also has a provision to say that if the fund is insolvent, it can stop paying to the CPF members who have paid money into the scheme. Halimah Yaacob has correctly pointed out that “the relationship between the CPF Board and the CPF members, however, is not just a legal contract (but) a social contract as the board has a social responsibility to manage CPF funds prudently in order to help Singaporeans meet their retirement needs.” Straits Times. Did the CPF members ask to be in the annuity scheme? NO. It is the govt that is compelling the CPF members to put their money into the scheme. If that is so, the govt better guarantees that the money is there and will be paid to the contributors as promised. Otherwise don't make it compulsory. The provision not to pay is unacceptable.

'they assumed everything is ok'

RMIT said it complained about Brookes Business School in 2007 to the MOE. MOE issued a warning letter and subsequently did not hear from RMIT. So 'they assumed everything is ok.' But everything is far from ok and many students were cheated in the last two years. And the matter was raised in parliament. 'Halimah wondered if more could have been done to "save a lot of people from heartache".' Hello, hello, anyone in? On vacation?

No more good years

Once we heard loud noises about more good years. But when good years were turning into lean years, one good year was brought in to break the bad trend. Unfortunately it didn't help much. Probably they should get an expensive good year instead of a cheap one. Now, brace up and prepare to have more of the same. Actually when the mandate of heaven is with a person, anything the person touched will turn to gold. Otherwise everything touched will turn to dust. But when the mandate is with a person, even a fool, everything touched will turn to gold. Would the mandate of heaven still be with the chosen?

Not a bad idea for rise in HDB resale prices

'HDB flat prices should be a reflection of Singaporean's wealth and it is "not a bad idea" for prices to increase steadily, especially for those holding onto negative assets bought in the previous market peak in the mid 1990s.' Grace Fu What about those first time buyers who have yet to buy a flat and chasing the escalating prices?

Hello, anyone in?

Is there anyone responsible for anything anymore? Is there anyone able enough to do anything right or everyone has done his best and this is what we are getting? What, what, sorry wrong number. If anyone is asking me what am I talking, I also don't know. These words just keep ringing in my ears.

What a beautiful sound

On the front page of 'my paper' are these sweet words that are music to my ears - S'poreans to get monthly CPF Life payouts. Then on page 2, CPF Life are for life. And sweeter still, the first paragraph, 'Singaporeans will receive monthly payouts form the CPF Life annuity scheme for the rest of their lives although the law does not provide for it, assured Manpower Minister Gan Kim Yong. The sweetness ends there. As I read on, the money is not coming from the govt, it is coming from your own savings. Fat hope, where got govt so good one. And I think it is compulsory after 2013. The point is that it is your own money.