Breaking: Ministers to Renounce All Bonuses & Pay Hikes!

[makapaaa]

FAT HOPE!

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Coffee Shop Talk - Ex-UBS execs return $88m</TD><TD id=msgunetc noWrap align=right>

Subscribe </TD></TR></TBODY></TABLE><TABLE class=msgtable cellSpacing=0 cellPadding=0 width="96%"><TBODY><TR><TD class=msg vAlign=top><TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"> </TD><TD><TABLE cellSpacing=0 cellPadding=0 border=0><TBODY><TR class=msghead><TD class=msgF noWrap align=right width="1%">From: </TD><TD class=msgFname noWrap width="68%">BREAKlNGNEWS <NOBR></NOBR> </TD><TD class=msgDate noWrap align=right width="30%">5:19 am </TD></TR><TR class=msghead><TD class=msgT noWrap align=right width="1%" height=20>To: </TD><TD class=msgTname noWrap width="68%">ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right> (1 of 2) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft width="1%" rowSpan=4> </TD><TD class=wintiny noWrap align=right>14543.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>Nov 27, 2008
Ex-UBS execs return $88m

Former top managers of UBS have voluntarily renounced about 70 million Swiss francs (S$88 million) in bonuses and wages. -- PHOTO: REUTERS
LUZERN (Switzerland) - FORMER senior executives at Switzerland's biggest bank UBS have voluntarily renounced about 70 million Swiss francs (S$88 million) in bonuses and wages, the bank's chairman Peter Kurer said on Thursday.
UBS reveals 'limited number' of tax frauds
LUZERN (Switzerland) - SWITZERLAND'S biggest bank UBS has uncovered a 'limited number' of tax fraud cases, the bank's chairman revealed on Thursday, saying that banking secrecy was not devised to shield tax cheats.
'Our investigations have uncovered a limited number of cases of tax fraud under both US and Swiss law,' Peter Kurer told shareholders during an extra-ordinary general meeting here.
... more
The sum included bonuses foregone by former chairman Marcel Ospel, who together with former board members Stephan Haeringer and Marco Suter returned 33 million francs to the bank, one of the worst hit by the financial crisis.
'A total of approximately 70 million francs (US$58.28 million dollars) in bonuses has been repaid by executives who have left the bank,' Mr Kurer told shareholders during an extra-ordinary general meeting here.
'Once again, UBS is a leader in this regard, as no other bank has seen so many former top managers agree to forego so much,' he added.
A public furore over the executives' bonuses ensued after UBS was forced to turn to the state for a massive rescue package worth almost US$60 billion following its losses in the financial crisis.
Mr Ospel in particular, has been the whipping boy, with tabloid newspaper Blick even running a campaign to get him to repay his bonuses to the bank.
Earlier this month, Peter Wuffli, the former head of UBS' executive board, took the lead in waiving 12 million francs to which he was entitled.
His action was followed by Mr Ospel and the other two board members.
Other former senior executives have also waived 22 million francs in salaries and bonuses, added the bank, without specifying names. -- AFP
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[myfoot123]

Shall we ask our ministers to do likewise? Singapore economy is too small to deserve such high pay packages. LHL already mentioned Singapore economy is not like those big countries, we are little ant on the map and may not help much in global economy. Furthermore they have also made many blunders here and there in the last couple of years.

Based on the above two issues alone, are serious enough to get sack in private sector. Since their pay is pegged to private sector, disciplines must also be metted out according to the way of private sector. This is simple logic.

 

[myo539]

FAT HOPE!

You are absolutely right, and absolutely gullible as well.

You must be nuts to think Sg Ministers and civil servants are running charitable institutions in their ministries. Even a charitable institution like NKF has to pay its CEO some stipend for subsistence.

Why don't tell your boss that you are forgoing your salary because of the economic crisis?

In many developed countries, those unemployed are covered by social security or insurance which ensured that they have sufficient funds to tide through the economic hardship. In Singapore, our system is differen as we adopt a policy to be self-reliant as far as possible.

Are you talented and prepared to work for nothing?

 

[Leegimeremover]

FAT HOPE!

In many developed countries, those unemployed are covered by social security or insurance which ensured that they have sufficient funds to tide through the economic hardship. In Singapore, our system is differen as we adopt a policy to be self-reliant as far as possible.

Are you talented and prepared to work for nothing?

So efficient that Singaporeans are becoming unemployed, without enough money to retire, unable to pay housing debts which have been created by inflated prices, taxed money for incompetent MPs to punt on sure lose investments right? What more shit do you have to say, after selling out to the British for more than 50 years? Look, you screwed up by being paranoid and over vicious that those who could have saved you are all gone or do want to help you any more. Eunuchs are impotent. Systemic failure is near and complete.

 

[makapaaa]

FAT HOPE!

You are absolutely right, and absolutely gullible as well.

You must be nuts to think Sg Ministers and civil servants are running charitable institutions in their ministries. Even a charitable institution like NKF has to pay its CEO some stipend for subsistence.

Why don't tell your boss that you are forgoing your salary because of the economic crisis?

In many developed countries, those unemployed are covered by social security or insurance which ensured that they have sufficient funds to tide through the economic hardship. In Singapore, our system is differen as we adopt a policy to be self-reliant as far as possible.

Are you talented and prepared to work for nothing?

Heng ah! Still thought this running bitch of mine would say that I dun deserve high pay cos I could not even provide for social welfare for the slaves. Or is she trying to hint just that?! KNN! *zzzz*​

 

[Satan]

In many developed countries, those unemployed are covered by social security or insurance which ensured that they have sufficient funds to tide through the economic hardship. In Singapore, our system is differen as we adopt a policy to be self-reliant as far as possible.

Are you talented and prepared to work for nothing?

No. In Sinkeeland we don't have welfare because most of the money goes in paying millions of $$$ in salaries for a bunch of useless good for nothing old idiots and billions lost in bad investments by a macho man called Jinx.

 

[masgnoeL]

Tan Ku Ku...KNN! *zzzz*​