Language, literature and culture

I have studied science and mathematics for most of my life and have excelled in them. They are good for the world of business.

In recent years, I have learned to realize about the special quality of language, literature and culture. The language of any people is developed through the collective efforts of the best people in that culture, namely the writers, poets, and philosophers. The values of a people is embedded in their language. They  have to work together in harmony, so that their thoughts can be explained and understood in the language.

It is the talented people that are able to write the lyrics and musics to their popular songs. I learned some of these songs to appreciate the culture of the people in other nations.

Recently, I met a 80 year old professor who was able to recite the entire famous poem by William Wordsworth, "Daffodils".  He learned it more than 60 years ago, in school and in remained with him throughout his life.

I believe that the learning of language, literature and culture will build a better people. I hope that our schools will re-look at the syllabus and build a more considerate and thinking people.

Tan Kin Lian

Proposal - Financial services safety board

There is discussion in USA about passing legislation to create a financial services safety board. It is similar to my proposal for certain experts to certify financial products to be safe and fair to consumers.

http://www.newsday.com/business/ny-usfina056058126mar05,0,23991.story

http://finance.yahoo.com/print/expert/article/moneyhappy/121849

A sense of fairness

Americans are outraged at the bonuses being paid to the top executives of AIG's financial products. Here are people who took big bets, lost and felt that they should be retained with fat bonuses to clean up the mess. The public felt that this is so unfair.

There was another past incidents were the Americans were outraged. President's Clinton's plane, Air Force One, was delayed in taking off, as the President was having his hair cut. The barber has to complete the job, get off the plane, before it could take off. This caused a delay in the departure of many flights. The public was outraged. They felt that it was inconsiderate of President Clinton to cause so much inconvenience to other people.

Our leaders in the corporate world and in government has to learn to respect the ordinary people, and be considerate to them. They should display a sense of humility and fairness. They cannot act arrogantly and regard the ordinary people as "lesser mortals".

ST Online: Don't break CPF piggy bank, but...

Editor
Straits Times

I REFER to the Ministry of Manpower's response last Saturday to readers' calls for earlier Central Provident Fund (CPF) withdrawal.

The response that it is not a good idea as breaking the piggy bank would lead to temptation to draw more and more from the CPF does not address the main point raised by readers.

What they ask for is not to break the piggy bank. But for members who already have funds above the Minimum Sum, why can't the CPF Board release the excess funds to those who are now struggling to live?

Why hold on to excess funds and make them wait till they reach 55, when they and their families are struggling now?

With the pain and stress these individuals and their families are going through, will they even make it to 80?

Tun Ah Heng

MAS consultation paper - sale of unlisted investment products

I suggest that the product issuer should be required to disclose the charges that they are taking away from the investment product for their distribution cost, expenses and profit margin. Under the current regime, this informtion is not required to be disclosed.

The disclosure should be done at two levels:

a) the prospectus should specify the maximum charges that can be taken away from the investment for the various items of expenses.

b) an annual report should be presented to show the accounts of the fund.

Unit trusts have to disclose the charges and to render an annual statement of the fund. These requirements are more important in the case of the unlisted investment products.

I am not sure if this point has been adequately addressed in the new regulatory requirements that is being proposed in the consultation paper. I hope that someone can check this point and inform me.

Buying bonds

Read this article.