World Movement for Democracy

This organisation held its general assembly in Jakarta. President Yudhoyono opened the meeting. This important meeting was not covered in our Singapore media. Here is a report in Temasek Review.

Lucky Tan and Mini-bonds

Read this article by Lucky Tan.

From 5Cs to 5 Ks

Are Singaporeans still craving for the 5C's : Car, Condo, Credit Card, Club membership and Career?



Looks like Car & Condo will be elusive because of Higher COEs and High Property Prices for now whereas, on the other hand, looks like some are concerned about the 5K's

Kiasu (scared of losing)
Kiasee (scared of dying)
Kiabor (scared of wife)
Kiaboh (scared of having nothing)
Kiachenghu (scared of government)


LN

US Securities Exchange Commission sues Goldman Sachs

The US Securities and Exchange Commission has taken the bold step to sue Goldman Sachs for fraud in connection with the creation of complex financial products that are sold in the market. They involve the packaging of the sub-prime mortgages into collateralized debt obligations and credit default swaps. One argument put forward by the SEC is that Goldman Sachs knew that the sub-prime mortgages were already in trouble at the time that these products were created.

This is only the first step. Many other investment banks were also involved in creating similar products and may face similar actions by the SEC.

Our equivalent of the SEC is the Monetary Authority of Singapore. I hope that our MAS will also see if there is scope for similar actions to be taken in Singapore in respect of the complex products that were sold here. These products, such as the Mini-bonds and Pinnacle Notes, have caused huge losses to the retail investors in Singapore.

Tan Kin Lian

News clippings:
http://dealbook.blogs.nytimes.com/2010/04/16/s-e-c-sues-goldman-over-housing-market-deal/
http://www.reuters.com/article/idUSTRE63F3LM20100416

Reward for finding car key $30

There is a reward. Click here: