3 suing HSBC for forex losses

Three foreign investors are suing HSBC for losses in trading forex. They claimed that the banks did not allow them to use certain trading strategies which resulted in the loss. This is a case of clients wanting to use their own strategies but not allowed to. What about cases where stock exchanges allowed unfair strategies or trading practices eg computer trading, cornering the market, short selling, etc to make profits against small investors? Would there be a day when investors will stand up to sue stock exchanges for allowing unfair trading practices to go on at their disadvantage? Is there a moral and legal ground for stock exchanges to ensure that trading practices are fair and equal to all parties? I know that cornering a stock is illegal. To what extent is a situation that makes a stock being cornered? Is a stock cornered when a few parties work in collusion to drive up or down its price and incurring losses to the innocent, ignorant small investors? There must be moral responsibility, justice and fair play in all stock exchanges to ensure that all parties have a fair chance to trade, to win and to lose in the market.

Special Account is for retirement

Farah Abdul Rahim, Director, Corporate Communications, MOM, replied to a Rick Poon who wanted CPF Special Account to be used for education loan. She explained that the Special Account is meant for retirement purposes. Isn't the whole CPF savings meant for retirement purposes? The reality is that it was, but not now. With so many agencies eyeing the CPF savings, and planning their products and services to be paid by CPF money, there is really not much left for retirement. The Ordinary Account will probably be emptied to pay for affordable HDB flats. The more there is in the Ordinary Account, the more affordable will be HDB flats. The Medisave Account will be locked up for that day that may not come. Shouldn't it be time to start another CPF savings scheme truly just for retirement? We have, in the midst of getting to the CPF money, forgot that these are hard earned savings for retirement. Now public policy of housing prices will use the savings in the CPF as a basis to compute affordability. As long as there is money there, the price will match it. Am I wrong? Then we woke up one morning in horror. Why is there not enough money in the CPF for retirement? Why, when we set aside as much as 40% to 50% at one time, and at any time more than 30% of our income into CPF? And still not enough!

MBAs needing help?

Two British dons here to give suggestions to MBA graduates on what they can do in this recession. My eye balls are rolling. Shouldn't these highly qualified and trained professionals be looking after themselves or teaching the more lowly educated populations on what to do? The thought that they are lost and needed help or guidance really baffles me. Dum da da dum dum, dum dum.

How ominous!

It was the lightning bolt. Now the merlion was caged. This latter piece is on the front page of ST today. How ominous!

Where to Ho Ching?

This has been the number one question in many people's mind. There were all kinds of serious and cheeky suggestions, from the Presidency to being a housewife. Let me try another proposition. With the kind of talent and connection, it will be a big waste if Ho Ching makes herself redundant. She still has many good years to come and she can still contribute to the country and the stable of govt link companies. It is far better to get someone who knows to do the job than to hunt around or fish around for another genius to come by. Ho Ching should stay in Temasek and continue with what she is or was doing. Why? After going through all the crisis she must be that much wiser as to the risks involved in managing and investing huge sums of money. And Who else has the privilege of a $58b lesson? Tan Yong Soon only had a $50k lesson in France. I still feel that with such a costly lesson that is difficult to come by, she is even more qualified to do the job. Stay on Ho Ching. No one is more qualified than her to do that job. Of course many of you will disagree. But that's how I see it.