Extracted from bloomberg.com
Obama said he has assigned someone on his presidential transition team who interacts with Paulson (treasury secretary of Bush administration) daily.
"We are getting the information that's required, and we're making suggestions in some circumstances about how we think they might approach some of these problems,'' Obama said. Obama also said the government must do more to help distressed homeowners.
"We have not focused on foreclosures and what's happening to homeowners as much as I would like,'' Obama said, according to the excerpts. He called for setting up ``a negotiation between banks and borrowers so that people can stay in their homes.''
Translate into Singapore situation
The government and MAS must do more to help distressed investors of the credit linked notes.
They have not focused on helping the investors as much as is possible. There should be a negotiation between banks and investors so that fair compensation can be given to the investors for their losses.
The difference is a new broom sweeps clean. Someone who is new will do things differently from the incumbent because of complacency and inertia. That is the reason why in some industries, constant rotation is good for the company as the new person will go through all the nooks and crannies before getting complacent again.
ReplyDeleteEveryone wants to keep the Pandora Box sealed
ReplyDeleteEven if it suffer some chipoffs at its edges
The Govt. & MAS must do the right thing!! SM Goh has gone to Hong Kong & heard what they have done. Perhaps he can come up with something that is uniquely Singapore in which all parties come out the winners. Not only 10,000 thousands directly involved but all Singaporeans if you take into consideration the investments made by our Town Councils!! It is time to take action decievely & not to drag one's feet.
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