NKF story - Knowing shame

The scripture says, 'fearing God is the sign of wisdom.' In life, knowing shame is a sign of honesty. Richard Yong is the first member of the old NKF Board that has apologised, according to his new lawyer, and he is also asking the gullible public, who were betrayed and hurt in the course of events, to forgive him. For a person who has done wrong and asking for forgiveness is a way of acknowledging his wrongs and feeling guilty about it. At least Richard Yong has come about to know that what he had done were wrong and shameful. It is now left to the victims to forgive him. For those who have done no wrong, there is no need to apologise nor any need to ask for forgiveness. It is the fault of the gullible public to be snooked. So do not blame the clever from cheating the public. This reminds me of what the Japanese told the Sick Man of Asia that it was China's fault for being weak. For weakness invites one to be raped. It was China's fault that Japan invaded and tried to colonise it. There is no need to apologise for the invasion.

OCBC Bank - Returning to the roots

It was not many years ago when children were encouraged to save in schools. Banks were also actively promoting savings among children by offering all kinds of schemes and attractive toys to the young savers. Then as banks grew big and strong, they find the few dollars and cents too tedious, unworthy, and costly to manage. So they start to impose a fee for savers who did not have the minimum sum in their bank accounts, something like $1000 or $1500. Small savers suddenly find that it is the bank that is doing them a service and they have to pay to keep their miserable sums in the banks for safe keeping. I think subsequently all the children savers who have less than the minimum sum stop putting their money in the big and strong friendly banks. The banks are now so rich that they find the small savers a pest. I cannot imagine where these small savers are putting their monies but very likely in piggy banks or some tin cans. Where else when no bank is going to keep their few dollars for free? Now OCBC is launching a scheme with all kinds of attractive gifts for the children to save. I believe these children will not have to pay a fee should their savings be too small. Nothing stated on this. Looking at the long run, this is a genius move, a strategic move to sign up all the future depositors to become OCBC account holders. Yes, get them when they are young and once they have got use to OCBC and have an account with OCBC, they will remain there. Unless OCBC mess it up with their services or starts the nonsense of imposing a banking charge again for small savers. Just one generation, OCBC will sign up all the new adults as their account holders. What a smart move. 'Greed has no shame'

Dow down 280 pts on Friday

Looks like Dow is bend on spoiling our National Day celebration. Just when everything is turning around, it came crashing down again. And why should the worry of subprime housing loan in the US concern us? This is their domestic management of housing loans and even if it does affect us or the world market, it should be of a bearable nature when funds withdraw some investments out of other markets to cover their losses back home. And some banks here may also be exposed to these loans but should not cause any panic. Even losses of a few hundred millions are not a life of death situation. Our economy is booming and the construction industry is full of works for the two IRs. These are totally detached from the US housing loan woes. So are many industries around the world. But if funds join the fun and short the market down, all the markets will go down regardless of fundamentals. It is about time that Asian bourses detach itself from the domination of Dow and take a life of its own. The Chinese market has taken on a character of its own and without too much foreign fund manipulations it is able to perform on its own merits. We will have to hope that sensibilities are not too badly affected and Asian bourses remain firm on Monday. But it will need some encouragement from analysts and fund managers to make some affirmations that the fall in Dow need not be so deadly and some sectors of he economy are totally undisturbed by the housing loans trouble.

Malaysia heading towards a crisis

Malaysia is heading towards a crisis of unimaginable proportion, worst than May 13. This time it is not because they having too small an economic pie. It is the other way round, they want the whole cake and eat it. And to make matter worst, they are being led by two of the hottest firebrand and ambitious politicians, both trying to outdo each other to prove that they are worthy of the Premiership. Hishamuddin was hot, but he cannot hold a candle to Khairy who is bent to upstage him in all aspects. Khairy is going to prove himself to be a fiercer fighter for the Malay course. He is prepared to burn down anything in his path. On the other hand the MCA and MIC, after their shameless appeasement of UMNO in 1955 by giving in without a fight, is again hiding meekly in their closets without breathing a word of protest at all the changes that are being made to the detriments of the minority races. This time, with better organisation and more power in their hands, the bloodbath is going to be clinical and complete. The kris will be drawn and wash with blood if the firebrands are not stop in their path for personal glory.

Greed has no Shame

As we march down the road towards greed, as we celebrated the virtues and benefits of greed, it is time that we discard all the hypocrisies about goodness, generosity and a caring society. We should boldly embrace the positive aspects of greed and how it drives every man and woman to his best in chasing after more money. It is time to stop all the hypocritical acts of unproductive idealism. Singaporeans must be taught to cherish the culture of greed. That is how we can progress at an ever faster pace, financially and economically. We will have the best of everything money can buy. Anything that were claimed as virtues and money cannot buy were false virtues, mirages, the opium of the poor. There are ample proof and evidence that greed is the driving force in our growth. And everyone who is plainly displaying this by clinging onto whatever they have, title, position, influence and money, to get to more money for themselves, without shame. Singaporeans must be brave to tell the world that this is our culture and our formula for success.