'Sir Tom admitted he did not fully understand complex financial instruments - essentially parcels of 'toxic' debt - sold between banks' Proves these banks never understood what 'structured products' they were selling to the public, and telling people they were safe!
What else cannot happen? Even Temasek and GIC incurred huge losses during these financial turmoil.And now,Singapore has engauged an ANG MOH to take charge of this boat(Temasek).Well,let us see what happen next. DON'T aspect any sorry words if your monies go under b'cos "you went in with both eyes opened..." This is a painful lesson that we all learn from the financial turmoil.
In singapore, don't expect any apology. Instead they will tell you:
ReplyDeleteYou went in with your eyes open, serve you right.
Words are cheap. What I want to know is what's going to be done - nothing. Enough said.
ReplyDelete'Sir Tom admitted he did not fully understand complex financial instruments - essentially parcels of 'toxic' debt - sold between banks'
ReplyDeleteProves these banks never understood what 'structured products' they were selling to the public, and telling people they were safe!
What else cannot happen?
ReplyDeleteEven Temasek and GIC incurred huge losses during these financial turmoil.And now,Singapore has engauged an ANG MOH to take charge of this boat(Temasek).Well,let us see what happen next.
DON'T aspect any sorry words if your monies go under b'cos "you went in with both eyes opened..."
This is a painful lesson that we all learn from the financial turmoil.
7-Eleven man