culture of greed

A few days back I posted about US$40 million bonuses and today there is an article in the Straits Times titled, 'Fat bonuses for London bankers creating backlash.' The issues are the same, all the bankers are paying themselves crazy. And this has led to Tony Blair saying 'inequality matters. The big gap between those at the top and those at the bottom makes for a sick society'. And Cabinet Minister Harriet Harman called for 'action to stop these excessive ridiculous bonuses'. This perceived culture of greed represented a serious problem for business, acknowledged Richard Lambert, director of the Confederation of British Industry. I am not against individual enterprise and earning big bucks. But these fat bonuses are obscene and they are taken from the real owners and workers who have no control over them. It is left to a few sharks at the top to decide how much to share the loot. There is no control and accountability to the real owners, the minority shareholders, the small people in the streets. What corporate governance when everyone is scratching everyone's back? Power must be returned to the real owners of the wealth, and profits must be spread more downwards to the workers that are struggling to make ends meet. Why would these greedy honchos want so much money when a year's bonus is enough to last them several generations? It is all greed and the lack of corporate governance to control the excesses. In today's Straits Times there was another article about the role of independent directors and accountability. I don't think the problem is just in the independent directors.

Myth 109

'The illusion of higher income' Singapore is the only place in the whole world where the Govt has to help the middle income and higher income groups of people. What? Higher income people need govt help? Now what is wrong with that? Or are these higher income earners only higher income in name sake but actually poor like hell? Cannot make ends meet, and constantly juggling their finances to make sure that they can get by? I would have thought that once a person becomes higher income earner, he should be in a very comfortable position, to live well and enjoy life, not waiting for govt assistance.

why no singaporean blogs/forums?

Should The Singapore Media Or Culture Be Shot First? by Let Children Breathe Your Smoke I mean seriously, don't you guys have better stories or issues to discuss? Blogs? Seriously? Blogs are what you have to talk about? I copied the above from Singapore Surf. And today, Sunday Times devoted an entire Editorial Page on Blogs. Two third of the page was on an article by Carolyn Hong, Malaysia Correspondence, titled 'Bloggers rising to the fore in Malaysian politics.' And an editorial comment on the negative impact of bloggings with the title, 'Bereaved Netties.' And I quote some of its comments: 'A scan of blogs and random postings would suggest the national IQ has not risen (how patronising), but then the sober, sombre types are not in the habit of sharing their thoughts. (They are most heroic after wine and good food at house parties.) Attacking under the belt. Has the Net goaded famously guarded Singaporeans into the habit of venturing opinions? Political parties' research depts are the people to ask, as sounding off on public affairs is a reliable measure of a society's engagement.' in bold are my comments. Then it went on about Net and effect on marriage, Social Development Unit and Cupid and dating agencies. I think it is the last part that it is really interested. There seems to be a conscious effort to refrain from mentioning the names of Singaporean blogs and forums, especially the political ones. I don't believe that professional journalists whom we were reminded by Andy Ho that they did a lot of research before writing an article, would not have known the existence of many quality blogs and forums by Singaporeans. I am still waiting to see a major article on Singapore blogs and forums, not the food, hobbies, travels type of blogs/forums or blogs about who dating who and who is the most well dressed teenager in Orchard Road.

Myth 109

'What is God up to?' I spoke to God. I asked him why all the sufferings, the floods, the earthquakes etc? Why didn't he make a better world of happy and rich people? God said, 'If everyone is rich and happy, they will forsake me. They would not come to me. So I must make them suffer, make them feel the pain, then they will come to me for help. And I can be there saving them, giving them a little alms. And they will all be so grateful. I am the all compassionate and caring God. Psst, don't tell them that it was I who caused them all the sufferings and deprivation. Look at my palace, I have everything in abundance. But that's for me, and a little for them to make them come begging again and again. I am so great.'

Myth 108

Globalisation and Free Trade Temasek A fundamental question Can this state entity simply walk into a foreign country and buy its major assets – as an ordinary MNC? Letters Dec 28, 2006 In the wake of its troubles in Thailand and Indonesia, reader Aloysius Tan writes about the growing sensitivities facing Temasek’s ambition to control or invest in crucial foreign companies. The following is his letter to us and cc to reach@reach.gov.sg. The above question was copied from littlespeck.com My answer is a simple yes. For Singapore is a free country. We are totally free and we allowed everyone to come in and buy up whatever they like. And since we open ourselves up for others to buy, than logically others must allow us to buy into them. This is the same logic as Singaporeans who called themselves international citizens. Singapore is an international city state. We welcome everyone, especially foreign talents. So others must also welcome us with open arms. We called ourselves international citizens and the world must accept us as international citizens. We set the rules and the world must listen. It is like letting the world to screw us and we expect others to be screwed by us. Unfortunately, the world have their own rules. And they set their rules for us to obey. They will come and screw us. But they will not allow us to screw them.