$20k Guarantee A Reflection of Sorry State Govt in Sg

[makapaaa]

Sure, it's gonna increase cost to provide a higher guarantee, but why is it possible that the "lowly paid" govts in other countries can provide 100% guarantee while the MOST COSTLY govt in the world can only provide peanuts? The other excuse given is that most accounts have less than $20k in them. Either way, it just reflects the SORRY state of govt in Peesai. Sporns are indeed paying the price for supporting 1-Familee rule and its consequential leegalized corruption and moral bankruptcy. Fxxx the Familee. Fxxx PAPee!

 

[zhihau]

Sure, it's gonna increase cost to provide a higher guarantee, but why is it possible that the "lowly paid" govts in other countries can provide 100% guarantee while the MOST COSTLY govt in the world can only provide peanuts? The other excuse given is that most accounts have less than $20k in them. Either way, it just reflects the SORRY state of govt in Peesai. Sporns are indeed paying the price for supporting 1-Familee rule and its consequential leegalized corruption and moral bankruptcy. Fxxx the Familee. Fxxx PAPee!

huh? i need to pay to put my money inside the bank? then my money would be better off inside my milo tin!

 

[twochan]

Even if you want to put money in your milo tin I suggest you pay a visit to your local friendly moneychanger and change for a variety of currencies.

Don't all put in sing dollars.

huh? i need to pay to put my money inside the bank? then my money would be better off inside my milo tin!

 

[kakowi]

makapaaa, i got a different understanding. The singapore government does not guarantee any of the bank's savings. That $20K was actually the insurance bought by the bank on your behalf so that in the event it goes bust, you get back $20K in insurance payouts.

if this is correct, the insurance cost is probably hidden in the various charges you pay for the maintenance of your account.

 

[zhihau]

Don't all put in sing dollars.

bro, that's splendid advice! one kopi-O on me

 

[helicopview]

This is worst. It shows that sin govt dun even dare to commit like other govt. They don't give a damn. Salary win other country but service standard lousy. Salary $ taken not equal to work done.

 

[makapaaa]

<TABLE class=table_back cellSpacing=0 cellPadding=0 width="92%" align=center border=0><TBODY><TR><TD class=en_content_title width="66%" colSpan=2>Greece to raise bank guarantee to euro100,000
</TD></TR><TR><TD colSpan=2 height=8></TD></TR><TR><TD colSpan=2></TD></TR><TR><TD colSpan=2 height=5></TD></TR><TR><TD class=author width="59%">Associated Press
2008-10-08 08:54 PM </TD><TD class=count_top vAlign=top width="34%">

<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR><TD><TABLE cellSpacing=0 cellPadding=0 width="95%" align=right border=0><TBODY><TR><TD class=date_year align=right>Fonts Size: </TD><TD vAlign=center align=middle width="11%"> </TD></TR></TBODY></TABLE></TD></TR><TR><TD><TABLE cellSpacing=0 cellPadding=0 width="100%" align=right border=0><TBODY><TR align=right><TD>E-Mail This </TD><TD align=middle width="11%">

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</TD></TR><TR><TD colSpan=2 height=15></TD></TR><TR><TD colSpan=2><TABLE cellSpacing=0 cellPadding=0 width="98%" align=right border=0><TBODY><TR><TD>Greece promised Wednesday to extend bank-deposit guarantees and seek the punishment of banks caught spreading malicious rumors about competitors.
Finance Minister George Alogoskoufis said Greece will submit legislation to Parliament soon to increase its guarantee for bank deposits to euro100,000 for three years to help build confidence in the banking system amid the world financial crisis.
The European Union agreed during a finance ministers' meeting in Luxembourg Tuesday to guarantee private savings of up to euro50,000 (US$68,160) for at least one year, in a measure of coordinated action against the crisis. The current EU minimum stands at euro20,000 (US$27,265).
Greece's government has already made a political commitment to guarantee all bank deposits, regardless of the amount, but Alogoskoufis said he would submit legislation to guarantee savings of euro100,000 for three years.
"The legal minimum of euro20,000 that exists now in Greece and in many other European countries will be increased to euro100,000. This will happen very soon with a law that we are preparing to submit to Parliament," Alogoskoufis said in Athens Wednesday.
"I want to stress that beyond this legal initiative, our political commitment is still in force guaranteeing the full amount of deposits beyond the legal minimum."
Alogoskoufis reiterated that the Greek banking system is not at risk from the global financial crisis, but said the measures aim to calm jittery savers.
He noted that the EU decision was for the increased deposit guarantee to stay in effect for at least a year.
Greece's central bank governor, George Provopoulos, said the planned legislation _together with government pledges to guarantee all deposits _ would stop a small leakage of deposits from small to larger banks.
Provopoulos warned that the Bank of Greece would notify judicial officials if it received formal complaints of commercial banks spreading malicious rumors to poach custom from their competitors.
"We have received anonymous complaints that ... some banks due to the excess zeal of their executives, or out of naivete or low cunning, are pushing depositors in their direction at the expense of other, smaller banks," Provopoulos said. "There have been such movements, luckily not on a large scale."
"Any complaints made on the record will be immediately forwarded to a prosecutor," he added. Provopoulos said Greece's banking system "remains fundamentally healthy, safe and stable."
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[Einfield]

SG Gov World Class??

1.) They have no clue what other countries gov are doing to guarantee their banks and shore up confidence

2.) They are slow to admit that they are slow

3.) They like to NATO (No action talk only)

4.) They control and own the bank so conflict of interest

5.) You die your own business, Bank buy insurance to cover 20K so the cost come back to you the customer

6.) The only world class from these clowns are their pay.

 

[SammyHulk]

The main role is minimize risks with high returns (zero risk lagi better), low liabilities ( zero liabilities pure heaven), minimal expenditures (transfer cost to others aka 'sub contract out ') and guarantee payback (i spent money building these and you guys gotta pay me back with interest) :p

 

[yellow_people]

Sure, it's gonna increase cost to provide a higher guarantee, but why is it possible that the "lowly paid" govts in other countries can provide 100% guarantee while the MOST COSTLY govt in the world can only provide peanuts? The other excuse given is that most accounts have less than $20k in them. Either way, it just reflects the SORRY state of govt in Peesai. Sporns are indeed paying the price for supporting 1-Familee rule and its consequential leegalized corruption and moral bankruptcy. Fxxx the Familee. Fxxx PAPee!

By and large this is a Chinese govt. If they can get away with paying peanuts they will. Take a look at the motherland PRC, they couldn't give 2 hoots about their citizens either. The earliest case of toxic baby milk was reported in Dec 2007 but they suppressed the information and waited till the Olympics was over before acknowledging the issue. How many athletics drank the toxic milk? In the meantime thousands of babies have kidney failures. Anyway what's a few dead Chinamen? Look how many there are now.

 

[yellow_people]

When a Chink tells you he can only guarantee a fifth of your deposits... its time to take your money out.

 

[pfingo]

dun forget the horrible sinkie women!

 

[The_Latest_H]

SG Gov World Class??

1.) They have no clue what other countries gov are doing to guarantee their banks and shore up confidence

2.) They are slow to admit that they are slow

3.) They like to NATO (No action talk only)

4.) They control and own the bank so conflict of interest

5.) You die your own business, Bank buy insurance to cover 20K so the cost come back to you the customer

6.) The only world class from these clowns are their pay.

Hit right on the spot, brother.

 

[i1u12]

By and large this is a Chinese govt. If they can get away with paying peanuts they will. Take a look at the motherland PRC, they couldn't give 2 hoots about their citizens either. The earliest case of toxic baby milk was reported in Dec 2007 but they suppressed the information and waited till the Olympics was over before acknowledging the issue. How many athletics drank the toxic milk? In the meantime thousands of babies have kidney failures. Anyway what's a few dead Chinamen? Look how many there are now.

I don't know why u said this is a Chinese govt! This is a Singapore govt and a comparison is made why the govt allowed $20K guarantee for a bank account here.

 

[yellow_people]

I don't know why u said this is a Chinese govt! This is a Singapore govt and a comparison is made why the govt allowed $20K guarantee for a bank account here.

Its a govt that is hell bent on maintaining the Chinese status quo - 75%.. ergo a Chinese govt. Let's face it, if the Chinks weren't artificially boosted by immigration the numbers would have dropped a long time ago..back since the 80s the Chinese have been reproducing below replacement levels.

 

[myjohnson]

Its a govt that is hell bent on maintaining the Chinese status quo - 75%.. ergo a Chinese govt. Let's face it, if the Chinks weren't artificially boosted by immigration the numbers would have dropped a long time ago..back since the 80s the Chinese have been reproducing below replacement levels.

This Chink here will tell you that is a fucking fact that the majority can't see, the reason why there are so many PRCs around. The minority knows but they wont discuss it outside their own circle.

ps: Guess I'll call it a night. See you around Chink Hater.