How good are fund managers?

Dow hit by 380 pts fall The SubPrime Loan crisis is not going to go away. American and European Banks are pumping in a few hundred billion US$ to try to stave off the problem. Some American and probably European funds are hit bad. Investors who have put faith in the professional expertise of these fund managers are heading for a rude shock. Could this be the American equivalent of the Asian financial crisis? Let's hope that these great talents and fund managers are able to clean up the mess they have created. It is unbelieveable that they could create such a big bubble for themselves and they are teaching the world how to manage their economies.

Bus concessionary pass is a privilege

Tammy Tan of SBS Transit replied in a letter to the media that concessionary pass is a privilege. So no pass just pay adult fare. Is the running of public transport a privilege or a right of bus companies? Why do we need humans instead of running everything by unthinking computers or robots? This is the kind of Singaporeans that we are creating. The unthinking kind that just work by following the book. A very good example of such Singaporeans are the security guards. Because of the terrorist threat, all the guards are told to check for pass. No pass no entry even if he knows who you are, that you greet him or he greets you every morning. Another stranger who picks up a pass and wears it on his chest will be allowed into a building with no question ask. He got a pass. But then, we cannot expect Singaporeans at all levels to have the thinking ability. Thinking too much is dangerous.

Making informed choices

“The Ministry will continue to manage medical inflation without compromising the quality of patient care,” said the MOH spokeswoman. “We will use market forces, where appropriate, to manage medical costs — for example, through publishing bill sizes and quality indicators. She added: “This will allow Singaporeans to make informed choices on where to seek treatment and provide transparent benchmarks on the comparative efficiency of healthcare providers.” Singaporeans will now be better informed. So they can choose between SGH, KKH, NUH, CGH or AGH. And if they still find these hospitals unaffordable, they can try Gleneagles, Mt Elizabeth, Thomson, Raffles, East Coast, Mt Alvernia etc. Now that Singaporeans have so many choices, they should not complain about high hospital charges.

S Dhanabalan awarded Order of Temasek

This man has been in the thicks of Singapore's development and transformation from a third world to first world status. He has held many key positions that would make anyone envious of the opportunities he had. And he had done well in these offices. He is well respected and according to Jackson Tai, a man for the masses and more important, inculcating a corporate culture based on integrity and fairness. Now how many big organisations can boast about these values of integrity and fairness and be proud of them? How many are seriously violating every inch of good conduct, fair and ethical practices and masquerading under a big innocent smile?

Celebrating National Day

As Singapore celebrates its 42nd National Day, Hsien Loong made a speech about the glorious achievements we have made for four good years of growth under his watch as the new PM. Among the many things to cheer about, he listed the following: 1. Our athletes are winning medals 2. Our Chefs are winning culinary contests ( should include all the Guinness Book of Records Singaporeans have achieved) 3. Our entrepreneurs are launching new businesses 4. Our students are excelling at all kinds of international events 5. We are gearing up for new and exciting projects, like the Formula One Grand Prix and integrated resorts 6. A clean and corruption free society 7. Disciplined and well educated workers 8. A cohesive, multi racial community 9. A capable and vigilant SAF and Home Team Then he went on to discuss about the problem of widening income gap and how the govt has put in measures to help those who are struggling to make a living. And there were many programmes like Comcare and Workfare to help needy Singaporeans. Actually a widening income gap may not be the real problem if the people at the lower end have enough to eat and are able to pay for their expenses. What is frightening the people and causing hardship and pain to the people is the constantly rising costs and money not enough. The galloping away of costs of essential services and basic necessities is the greatest failure of the govt. It is not a case of these costs cannot be arrested but more a case of a belief that profits are good for all these providers of goods and services. And the govt only needs to give some handouts when there is a need to. Thus the people at the lower end will forever be chasing for money to pay for the increasing costs. And whatever income or savings they have will never be enough. If the costs of living can be curbed and contained, there is no fear of a widening income gap. There is no fear of earning a little lesser as things are not going to cost more everyday. And there is lesser fear that savings, the CPF, the Medisave, will never be enough. There is no need for handouts. Give to the people by not giving. Rein in the runaway costs.