Tan Kin Lian's Blog: Our Continued Fascination with wall street bankers leading to our Downfall ?

Thursday, November 20, 2008

Our Continued Fascination with wall street bankers leading to our Downfall ?

Contributed by LA

1) Die die must have wall street bankers here ( somehow, more wall street bankers here = top financial hub )

2) Die die must have wall street bankers advise us.

3) Die die must have wall street bankers to better run our own banks here.

4) Die die must have wall street bankers to better run our sovereign funds. http://asiasentinel.com/index.php?option=com_content&task=view&id=1549&Itemid=233

5) Die die must have wall street bankers sell us ( Town Councils included ) poisonous "investment" products.

Afterwards, ….. we all die ?

P.S. maybe we are all fascinated by their obscene buddy-buddy compensation – how would you like to receive US$25 Million for being a Merrill Lynch banker for just 4 months ?
http://www.fool.com/investing/dividends-income/2008/10/22/another-insane-wall-street-pay-story.aspx
how would you like to crash big name banks and still receive tens of millions dollars - no prior experience required ?
http://whatilearnd.com/post/52449126/golden-parachutes

And we are told off we are greedy for 5% return, and deserve our pain and suffering !

LA

9 comments:

Everlearning said...: This is the past trend and a dying phase of dependence in terms of materialistic gains. Now, our focus is China and India.

The next change will be our education system in Singapore. Greater emphasis will be given to learning Chinese Language and Tamil language.

Die die must make our country on favourable terms with the uprising countries.; November 20, 2008 8:06 AM
Anonymous said...: simple- What you can, forget US will support you as there need 10 years to sort out trillion of debt, millions of unemployed and every day another crisis trumbles the world stock market index. Even at crisis time, they control good news, bad news. They are not stupid . The media is tossing the coins and bankers are playing the bet.

The cayman things is clearly a CON jobs. Complex con jobs.

So very easy.
1. when you fly, fly AIR BUS only.
2. When you wifi, forget Starbuck and MacD.
3. When you get Roti Canai, forget Pizza Hut.
4. Forget Vigra- try 'SamPeinChew'.
5. ahh, if you drink 'KokFar' forget Cocacola...

Unfortunately we cannot live without Blogging and bill gate Vista....

If the minibond issue not resolved quickly. Bad for bankers, bad for investors as more news cropping up everyday .
Whatever the give above 50%, just sallow it. Money can earn slowly, without capital, you can make anything. A bank got license to make money. An ordinary citizen need capital to move on...

So sad...in good time when i told people to sell, they scolded me and say 'you gila kah?'-long term investment.

Now i say, take a cut and resolved and move on, we are hardworking and creative people. we can earn back.

But we will never trust AMERICAN bankers for the next 100years.

WTF; November 20, 2008 8:42 AM
Anonymous said...: With the failure of all these reputable world class financial institutions, this is one time when I feel I am equally qualified to be their CEO - I definitely guarantee on hindsight that I can do a better job. Why? I will take their multi-million dollar salary and forgo the bonus/learjet. Result! Less losses! Even Ah Pek can do such a job.; November 20, 2008 8:50 AM
Anonymous said...: Has any government or public official ever use the "g" word (GREEDY) and the "u" word (UNSCRUPULOUS) about these Wall Street types that are here to educate ill informed natives? Sure we look to China and India but these are the countries that most of the time do not hesitate to tell the Wall Street types exactly where thet can park themselves. Those who lick boots deserve what they get!; November 20, 2008 9:54 AM
Anonymous said...: The financial crisis has got many so called "financial expert" from wallstreet out of job. They may be coming our way now. Hope that the authorities will be wary of these group of "expert"

HS; November 20, 2008 10:52 AM
Anonymous said...: Investors are labeled greedy for 5%, while bankers escaped scot-free, so far no one has called Bankers greedy, they are truly greedy, they who created and sold such toxic products and caused so much problems and heartache.; November 20, 2008 12:12 PM
Anonymous said...: I like to know who is the master of Masters who import these toxic products,,, Chairnman or audit committee sure know with all their circulated memo or documents.

WHo dare to disclose?; November 20, 2008 12:42 PM
Anonymous said...: Only remembered Mahatir dare to scold those Americans. Even during 1998 when he implement RM$ peg US$, he told those guys to go fly kit when he was cited as opposing free market. Malaysia boleh!; November 20, 2008 2:54 PM
Anonymous said...: The truth is that our FIs are the main culprits for bringing in the products and in one case for designing and packaging them. Even before the investors get their additional annual ~3% interest, the FIs had already pocketed more than 20%.

Talk about GREED! Who is more greedy?

Can the FIs honestly state that they told the investors that besides the 6 to 8 REs, they are also "investing" in another 100s of UFOs and that 1 failure (may be a default in loan payment) in 1 RE or a few in the 100s UFOs could mean 100% loss in investment?

If they did, am sure no one will buy the products - take 100% risk for ~3% more in interest over a period of 4 to 7 years.

By hiding the material fact (VERY HIGH RISK), who is the greedy one?

So for those who are quick to accuse us of being greedy, please get your full facts!!; November 20, 2008 8:22 PM