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can singaporean all band together and SUE LHL?
- Thread starter god_zeus
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can or not ah?
I noticed loong get agitated when someone exposed him
and he ACTUALLY feel the pressure from netizens
that's blasphemous..................
there is one that the people can take the government to court for unfair trade practices.
Imagine a government can ban a financial facility available in the banking system for the commoners mums and dads home owners.
Back in 1990 something, Citibank offered LOC facility to ordinary home owners mums and dads. This LOC (line of credit) facility was not a new financial facility but has been around for donkey years mad available to business people to borrow from banks using their home/ commercial property as collateral. They can borrow up to 80% of the value of their equity growth. LOC is like a stand by account for business people to draw money from $1 onwards and pay interest on that $1 at bank rate of say 6-8% (1% above ordinary bank rate). If they don't need money no interest charge on the LOC facility.
Old fart PAP banned it saying by doing so it affected the CPF money. WTF is he talking about?
say fi you bought a HDB in 1970s for $25K and paid of n 5-8 years. Property doubled every 10 years, a common knowledge. And say in 1990s your property is worth $200K in price and as such you can set up a Citibank LOC facility refinance loan at 80% of the value of the equity growth. This gives give you loan of $140K available as a stand by loan. ($200K-$25K) x 80% = $140k.
If you withdraw $100 you pay interest on the $100 only @ 6%-7% bank rate. If you don't use any pay nothing and is a stand by facility only.
It come to pass now, if you use this facility and borrow $100k and your HDB mortgage loan $50k to go you use your CPF to pay that $50K. Use cash to pay that $100K LOC loan back to the bank and it is your business, MYOB to the government, gahment go fuck off. You are not spending/ using the CPF money, agree?
If can't pay back the LOC loan or the HDB mortgage, sell the house then and is also MYOB to the government, agree?
Has this LOC anything to do with your CPF money?
This is a case of unfair trade practices from the government and should take them to court?
Imagine a government can ban a financial facility available in the banking system for the commoners mums and dads home owners.
Back in 1990 something, Citibank offered LOC facility to ordinary home owners mums and dads. This LOC (line of credit) facility was not a new financial facility but has been around for donkey years mad available to business people to borrow from banks using their home/ commercial property as collateral. They can borrow up to 80% of the value of their equity growth. LOC is like a stand by account for business people to draw money from $1 onwards and pay interest on that $1 at bank rate of say 6-8% (1% above ordinary bank rate). If they don't need money no interest charge on the LOC facility.
Old fart PAP banned it saying by doing so it affected the CPF money. WTF is he talking about?
say fi you bought a HDB in 1970s for $25K and paid of n 5-8 years. Property doubled every 10 years, a common knowledge. And say in 1990s your property is worth $200K in price and as such you can set up a Citibank LOC facility refinance loan at 80% of the value of the equity growth. This gives give you loan of $140K available as a stand by loan. ($200K-$25K) x 80% = $140k.
If you withdraw $100 you pay interest on the $100 only @ 6%-7% bank rate. If you don't use any pay nothing and is a stand by facility only.
It come to pass now, if you use this facility and borrow $100k and your HDB mortgage loan $50k to go you use your CPF to pay that $50K. Use cash to pay that $100K LOC loan back to the bank and it is your business, MYOB to the government, gahment go fuck off. You are not spending/ using the CPF money, agree?
If can't pay back the LOC loan or the HDB mortgage, sell the house then and is also MYOB to the government, agree?
Has this LOC anything to do with your CPF money?
This is a case of unfair trade practices from the government and should take them to court?
can or not ah?
I noticed loong get agitated when someone exposed him
and he ACTUALLY feel the pressure from netizens
Last edited:
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[video=youtube;AZRGPg5laDU]http://www.youtube.com/watch?v=AZRGPg5laDU[/video]
No, the citizen should not need to band together to sue LHL.
You should band together and apply for a commital order at the High Court to have him sent to IMH.
Afterall, his gov as it stands runs that institute and he can stay in 'A' class for FREE.
Never in the history of modern mankind since humans wanted a form of democratic society, have any elected official goes about suing his own citizen simply becos he felt offended.
You should band together and apply for a commital order at the High Court to have him sent to IMH.
Afterall, his gov as it stands runs that institute and he can stay in 'A' class for FREE.
Never in the history of modern mankind since humans wanted a form of democratic society, have any elected official goes about suing his own citizen simply becos he felt offended.
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There's no need for that.
In countries where the parliament has balls and actual democratic principles are practised, such a prime minister would either get impeached or have a vote of no confidence issued against him.
Too bad the pappies are all eunuchs who prefer to keep the status quo and shower the naked emperor with highfalutin flattery.
'Constructive politics' my ass! :kma:
In countries where the parliament has balls and actual democratic principles are practised, such a prime minister would either get impeached or have a vote of no confidence issued against him.
Too bad the pappies are all eunuchs who prefer to keep the status quo and shower the naked emperor with highfalutin flattery.
'Constructive politics' my ass! :kma:
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