Mr. Tan Kin Lian,
There is another more interesting news on the Goldman investigation. The e-mail record of Fabrice Tourre is quite telling. He is the 31-year old nicknamed "Fabulous Fab" who brokered the deal. You may read the link (http://money.cnn.com/2010/04/26/news/companies/Tourre_Goldman/index.htm)
Quote
In an even more blunt description, Tourre calls the CDOs he produced "intellectual masturbation" and likens himself to Dr. Frankenstein. "When I think that I had some input into the creation of this product (which by the way is a product of pure intellectual masturbation, the type of thing which you invent telling yourself: 'well, what if we created a 'thing', which has no purpose, which is absolutely conceptual and highly theoretical and which nobody knows how to price?") it sickens the heart to see it shot down in mid-flight...It's a little like Frankenstein turning against his own inventor ;)"
Unquote
From CASHEW NUT
Tuesday, April 27, 2010
A social democracy
Some commenters in my blog described Mr. Lee Kuan Yew as a "communist". This description is not appropriate. Mr. Lee has fought against the communist after becoming prime minister of Singapore. His policy has always been anti-communist. He has put many alleged communists under detention without trial for as up to three decades.
One of the detainee is Dr. Lim Hock Siew. I first recognised this name on the signboard of a clinic in Balestier Road, near where I lived. At that time, I knew that Dr. Lim was detained because he was a member of the Barisan Socialis. I did not know of his background then.
Recently, I read an article about Dr. Lim after he was released from detention. He explained that his philosophy was for social justice. He advocated giving the people better wages, living conditions and a better life. They are the same type of values that I am advocating now. If this is what the communists advocate, it is not that bad after all.
http://www.youtube.com/watch?v=dqhr4wxUFws
Many people associate communism with oppressive regimes that are found in some countries around the world. But oppressive regimes can also be found in so-called democratic countries where the leaders abuse the state and military powers to retain their political dominance. The types of abuse vary in degree - in some cases they are subtle and in other cases, they are blatant.
We can also see countries that allow democracy adn free expression to get out of hand, leading to a breakdown of law, order and authority. This is also to be avoided.
My preference is a "social democracy". It is a truly democratic society where the will of the people is respected and the government is elected freely. The government promotes social justice through the regulation of the economy to promote a fairer distribution of wealth and opportunity and to prevent excessive accumulation of wealth by a small segment of the people, often by immoral means.
There are many examples of social democracies that have succeeded to give a good life to the people and have a high ranking in the quality of life indicators. They include several countries in Scandanivia and Europe, Canada and Australia. They become the top choice for migrants.
Tan Kin Lian
Quote from Lim Hock Siew's video
The future of socialism
After 50 years when the club was formed, the socialist movement all over the world has suffered a lot of setbacks and even defeats and some wonder whether we are still relevant. The recent economic crisis, the recent financial crisis, has once again exploded the corruption and immorality of the capitalist system and feel that human beings should deserve something better than a aystem that is generated by greed and by corruption,.
One of the detainee is Dr. Lim Hock Siew. I first recognised this name on the signboard of a clinic in Balestier Road, near where I lived. At that time, I knew that Dr. Lim was detained because he was a member of the Barisan Socialis. I did not know of his background then.
Recently, I read an article about Dr. Lim after he was released from detention. He explained that his philosophy was for social justice. He advocated giving the people better wages, living conditions and a better life. They are the same type of values that I am advocating now. If this is what the communists advocate, it is not that bad after all.
http://www.youtube.com/watch?v=dqhr4wxUFws
Many people associate communism with oppressive regimes that are found in some countries around the world. But oppressive regimes can also be found in so-called democratic countries where the leaders abuse the state and military powers to retain their political dominance. The types of abuse vary in degree - in some cases they are subtle and in other cases, they are blatant.
We can also see countries that allow democracy adn free expression to get out of hand, leading to a breakdown of law, order and authority. This is also to be avoided.
My preference is a "social democracy". It is a truly democratic society where the will of the people is respected and the government is elected freely. The government promotes social justice through the regulation of the economy to promote a fairer distribution of wealth and opportunity and to prevent excessive accumulation of wealth by a small segment of the people, often by immoral means.
There are many examples of social democracies that have succeeded to give a good life to the people and have a high ranking in the quality of life indicators. They include several countries in Scandanivia and Europe, Canada and Australia. They become the top choice for migrants.
Tan Kin Lian
Quote from Lim Hock Siew's video
The future of socialism
After 50 years when the club was formed, the socialist movement all over the world has suffered a lot of setbacks and even defeats and some wonder whether we are still relevant. The recent economic crisis, the recent financial crisis, has once again exploded the corruption and immorality of the capitalist system and feel that human beings should deserve something better than a aystem that is generated by greed and by corruption,.
Be an Interim Manager
A friend told me that he has registered to be available to work as an interim manager for a company that needs someone to work for the short term, while they look for a permanent manager. You can download this brochure and contact this company if you are keen to join their pool of interim managers to work in your area of expertise.
Monday, April 26, 2010
Foreign Currency Fixed Deposits
Dear Mr Tan,
I have just started a Foreign Currency FD blog: . This allows Singaporeans to access information about FCFD at a glance, rather than searching the websites of individual banks. Would you like to add a link from your blog?
Note:
The URL is also shown on the right panel of this blog.
Your may find it not worthwhile to invest in foreign currency fixed deposit for the short term. You have to incur a spread of 1% (or more) to convert from SGD to foreign currency and to convert back to SGD, reducing the yield on the fixed deposit. If you invest for a longer term, it may be all right.
I have just started a Foreign Currency FD blog: . This allows Singaporeans to access information about FCFD at a glance, rather than searching the websites of individual banks. Would you like to add a link from your blog?
Note:
The URL is also shown on the right panel of this blog.
Your may find it not worthwhile to invest in foreign currency fixed deposit for the short term. You have to incur a spread of 1% (or more) to convert from SGD to foreign currency and to convert back to SGD, reducing the yield on the fixed deposit. If you invest for a longer term, it may be all right.
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