Friday, June 24, 2011

The first and second key

Someone pointed out to me that Dr. Tony Tan was involved in holding the first key, i.e. to invest the money of the GIC. It will be difficult for him now to hold the second key- as it is a conflict of interest. There is merit in this argument although it may be possible for Dr. Tony Tan to be independent in his approach when he changes his role. But it is a difficult question for the voters to decide if this is possible.

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1 comment:

Singapore's 5 Minute Investment Diary said...

This is a very old problem of government whose debate goes back to ancient Greece and Roman times.

Political scientists use the Latin phrase: Quis custodiet ipsos custodes?
Who Guards the Guardians?
Who will guard the guards themselves?

Interestingly, the wiki article below explains the theoretical-historical basis of our high priced scholar-elite system.

http://en.wikipedia.org/wiki/Quis_custodiet_ipsos_custodes%3F

Singapore is not really that unique after all. The ancient Greeks struggled with the same problems.

June 24, 2011 10:47 AM

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