Someone commented that there is no point in putting the suggestions in my blog, as the Government will not be reading them or consider them for implementation.
My purpose is to educate the people who visit and read my blog. I hope that more people will come forward to express their genuine views, either anonymously (if they prefer privacy) or, better still, with their actual names.
I also hope that the authority will hear the genuine grievances, and come forward to find a solution.
Tan Kin Lian
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Credit Linked Notes
7 comments:
Dear dear Mr Tan
I marvel at your continued faith in the authority. My view is more pessimistic. I feel that many of the members forming the "authority" are probably so comfortable with their wealth and material possessions that they see no reason to have compassion on those who are less fortunate. A prominent leader even said "when i see my CPF account I feel so good u know" I puke when i heard it on the utube clip.
In my opinion, Singapore is now a completely materialistic, commercialised nation, devoid of feelings, culture, compassion and common sense. What we need is a Gautama mentality amongst its leaders. When Gautama (better known as the Buddha) was rich he pondered about why there is poverty and suffering and he denounced his riches and came down to live among the commoners.
Unfortunately, what we have in the authority seem to be Nero's mentality, not Gautama's. (Legend has it that the Emperor Nero played a harp and basked in the glory of his wealth, even as Rome burns and the citizers suffer).
There needs to be a total cleansing of the soul of the people in authority before any positive change can be expected in Singapore.
REX
Dear Mr Tan,
I forwarded the discussion in your blog to MAS, but no reply and comment yet.
They cann't cover their ears.
It doesn't matter whether the Government bodies read the views, suggestions, etc. in this blog or others.
What matters most is highlighting the dangers, pitfalls and fraudulence in our present world that the men in the street could shield themselves from the devastating impacts.
Do you think it is ethical to sell structure products via FA for "execution only"?
People could easily mistaken that since a FA is serving them, they are getting advice from the FA.
Why such things can be allowed???
Why? why? why?, but no answer.
I believe that this blog is very useful. Frankly if Mr Tan and his team have not stepped forward to organise this blog and the rallies and create attention, everything will be swept under the carpet and nothing or little will be done.
From the recent write-ups in the newspapers, it is obvious that the government does take notice and acknowledge some of the flaws in the financial systems. Whether this is adequate and fair, we will see.
It will be a great shame if Singapore is to lose out to Hong Kong in handling these issues!!!
As an individual victim, there is little we can do against the FI. But with concerted efforts, alot can be done. All these are made possible by Mr. Tan and his team.
Once again, a big thanks to Mr Tan and his team. Jiayou and pls continue helping us.
If we really want change, we have to stop giving accurate feedback like the comments in this blog.
- Always give only positive feedback.
- for example, if the authorities want to increase ERP gantry charges to $50. Just say, that's a great idea. We support. Very good. Please carry on.
- tell MAS we support the selling of even more credit-linked notes.
- tell MAS that people who lost money in credit-linked notes don't really mind losing their money.
- and everytime a problem surfaces, just say "We don't know how to correct this". Or better still, deny that it is a problem.
- the more you try to correct the shortcomings of bad policy ... the better you shield the policy-maker from facing the consequences of their bad decisions.
- "Teach less, learn more". It's bad policy. But parents shield the policy-maker by hiring tutors to teach their kids at home, what the kids are not learning at school. So the kids continue to get good grades. And the policy-maker says .. "see ... teach less, learn more policy really works. The kids are doing better than ever".
Hello, REX has a comment on July 10, 2009 8:35 mail.
Indeed the "teach less, learn more" is a great example of very very BAD policy of the government!!
For those of you who don't know, the primary school science textbook consists of three "books" each of which is just only as thick as a thin magazine. I wouldnt even call it a book! It is divided into different categorised subjects, eg. cycles, energy, diversity, systems.
The biggest joke is that the material in the "magazines" are not fact-orientated, but rather written in a very unusual style that purportedly tries to stimulate thinking. On the other hand, the schools set exam questions which answers often could not be found in these skimpy text "books"! Yes lah, teach less but please also during exam, set questions at least 80-90% based on those skimpy lousy text books they issue mah.
So the rich who can afford to buy lots of extra books and afford tuition for their kids, they have an upper edge.
When I was in primary school 40 years ago, it was a LEVEL PLAYING FIELD, everybody rich or poor, had same opportunity!! A good reasonably thick text book which all students rich or poor must buy. A poor student can get high marks if he studies very hard, just from that book alone, I guarantee that. Not any more today. If you are poor, cannot afford tuition for the kids, cannot afford to buy more outside books, your kid will quite likely be unable to get good pass grades. The book publishers, they laugh all the way to the bank!
I fully agree that the education system at least at the Primary School level, is much much worse off today than in 1960's!!! I haven't even commented on Mathematics.. it is another nightmare.
REX
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