10% interest and principle protected

With the minibond fiasco, the people are so frighten of financial products and institutions that they are all keeping their money under their beds. But that cannot do as inflation is eating away their money and they are all hoping for a product where they can grow their money and with their principle protected. The CPF is encouraging people to put in more money into the special account to earn higher interest rate of 4% and principle guaranteed. I am starting a Redbean Bond with principle guaranteed and paying 10% interest per annum. Your savings will definitely grow over the years and you will get a monthly report on how much you have. No headache and no fear. By the time you reach 80 or 100 years, your saving will balloon into a mountain of gold. Oh, one condition, the Redbean Bond is to grow your money, but you cannot take it out.

Two laws in paradise?

Fame criminal lawyer Subhas Anandan speaking his mind on the different treatment of crimes and offenders in our courts and also the boorish behaviour of judges. Ooooh, would this be a contempt of the court? He is questioning the arbitrary decisions of judges and 'wonders if there is one law for the rich and another for the poor.' Now, this is touchy business and the public who have no understanding of the courts of law should not get involved. Let's see if TOM or readers of TOM would start a discussion on these issues. I have so many things to say but as a layman, better to leave them to the learned counsels to their discourses.

Spread the good news

"In a crisis, it's to 'calm nerves, boost confidence'." This is the role of the media according to Boon Yang. It has a very important part to play in the way it imparts information. The media has been playing a very negative role in the recent financial crisis, fanning the fear, scaremongering etc which result in aggravating the already low morale and confidence of the masses. Shit, I must also have played a huge part in scaremongering as well. Better to spread some good news especially when Christmas is around the corner. I heard my neighbour struck Toto last week, got $1.5m and is buying a condominium soon. And there are a lot of jobs available in the construction industry. And the govt is going to give away hong paos to those badly affected by the crisis. And the minibond victims will be compensated. What is the role of the media if it is not to report news and tell the truth? If a media's role is to spread good news in bad times, or say only the good stuff, what kind of media is it? The first thought that came to my mind in North Korea. The media there only spread the good news.

Myth 199 - Fallen myths

Two big myths have fallen. The myth of paying big money for top talents is now a myth that will circulate in cocktail parties as a joke. All the supertalents in top American financial institutions and giant corporations, including the motor companies are laughing stocks. Paying them millions and millions and what did the shareholders get? Bankrupt companies. Oh, hold it a minute. The companies could be worst off if not because of their talents. And in times like these, their talents are even more needed. The second big myth to bite the dust is big names, reputations and track records. All the big American financial institutions are big names with proven track records, plus supertalents, tested and proven. What happened? An organisation is as good as the people running it. The people running an organisation now are not the same people who built them. Or if some are still around, the mission, priorities and values may have changed. Don't be complacent. Count ourselves lucky not to have employed these great talents at cloud nine salaries. Or are we thinking of picking them up now that they are losing their jobs?

Low talent caught cheating $1.22

The low talents deserved it. Want to cheat also dunno how to cheat and got caught some more. And of all things, trying to cheat $1.22 to save paying MRT fare! Lee Heng Anne, 55, was caught for doing exactly this. And she was fined $700. Why can't these low talents learn to be smarter? They must learn from the high talents, want to cheat, cheat a lot and find ways to call it anything else except cheating. Do a little window dressing and may get away scot free some more. Cheat big requires a lot of talent. Look at all the Wall Street CEOs, anyone caught for cheating? The best is the CEO of Merrill Lynch for asking a US$15m bonus. He said the company's problem could be worst if not because of him and his talent. He deserves the bonus for such a good justification.