Financial Crisis and Man in the Street needs know

[jw5]

no "more good years"?

Hey, don't be sarcastic lah bro.
Today just announce son kenna paycut.
Don't be like that lah.
If there is no retrenchment, it will be worrying, you know................

 

[scroobal]

Actually, there's only 1 reason for the financial crisis, isn't there?
-- Greedy Bastards.

Yes. The investment bankers that created structured loans, the authorities that allowed them, the banks that sold them and the financial planners that flogged them.

 

[masgnoeL]

Yes. The investment bankers that created structured loans, the authorities that allowed them, the banks that sold them and the financial planners that flogged them.

So, now you quietly change your tune about MAS? In future, do more homework first before you take sides with MAS. The partiality of your post in the MAS thread that I started was glaringly apparent. You were blindly licking MAS (the authority) balls then.

Or are you twisting your words in your own thread now? Just to flow amicably with the general sentiments echoed in this thread you started, lest risk being thrown stones in your own thread?

This is what you had posted previously in my MAS thread that I started. You wrote:

http://www.sammyboy.com/showpost.php?p=77979&postcount=54

What could MAS have done - disallow the product and on what basis. Maybe write a rule that says people with low IQ should not be sold any investment product not matter what the grading is because they actually think that everything in life is risk free.

Lets be frank - what did you expect MAS to do with this product. Here are the options
1) write the word "risk" in bigger font, underlined, bold and in red
2) require a lawyer to accompany the customer at time of purchase
3) Heng Swee Kiat to read the propectus to you and guide you
4) disallow the product despite its grading
5) get you to produce a post graduate qualification in finance before allowing purchase
6) provide a cooling of period of 6 years for a 5 year product
7) a guarantee from the state

What exactly were you are hoping for?

You can't have your cake and eat it.

Don't you think that you look awfully silly now pointing your own finger at the authority and saying they are greedy bastards now?

 

[jw5]

Yes. The investment bankers that created structured loans, the authorities that allowed them, the banks that sold them and the financial planners that flogged them.

Agree, but don't forget the people who bought them.
And the people who bought houses they could not afford in the first place.

 

[myfoot123]

IHere are basic features of this crisis
A. Its once in a lifetime event. Its essentially a collapse of the capital model in totality that was built up since 1952.
B. The poison has yet to flow out completely from the system. Note the emergence of Pinnacle notes and expect mor. There are tranches of CDOs that will be classffied as defaults when US housing keeps going down.
C. This is not the time to buy low for equities or properties as the unknown is rather big. Keep cash and preferabbly in SGD as it is small enough to be manipulated by the local government and they will do it to keep their asset value intact.
Once again, its a collapse of a model and this has never happenned before in this manner or scale. Even the great depression was not a collapse of a model.

Fair enough, so the scene justify that our ministers should stop paying themself more than a million annually since time has changed,

 

[scroobal]

Fair enough, so the scene justify that our ministers should stop paying themself more than a million annually since time has changed,

For the salary that they earn, the results must be of the same level. I don't think they can actually show a distinctly better set of results compared to the 1st and 2nd generation leaders.

 

[scroobal]

So, now you quietly change your tune about MAS? In future, do more homework first before you take sides with MAS. The partiality of your post in the MAS thread that I started was glaringly apparent. You were blindly licking MAS (the authority) balls then.

Or are you twisting your words in your own thread now? Just to flow amicably with the general sentiments echoed in this thread you started, lest risk being thrown stones in your own thread?

This is what you had posted previously in my MAS thread that I started. You wrote:

http://www.sammyboy.com/showpost.php?p=77979&postcount=54

What could MAS have done - disallow the product and on what basis. Maybe write a rule that says people with low IQ should not be sold any investment product not matter what the grading is because they actually think that everything in life is risk free.

Lets be frank - what did you expect MAS to do with this product. Here are the options
1) write the word "risk" in bigger font, underlined, bold and in red
2) require a lawyer to accompany the customer at time of purchase
3) Heng Swee Kiat to read the propectus to you and guide you
4) disallow the product despite its grading
5) get you to produce a post graduate qualification in finance before allowing purchase
6) provide a cooling of period of 6 years for a 5 year product
7) a guarantee from the state

What exactly were you are hoping for?

You can't have your cake and eat it.

Don't you think that you look awfully silly now pointing your own finger at the authority and saying they are greedy bastards now?

As usual you missed the point. The vast majority did not purchase such investment instruments. Did Tan Kin Lian and company purchase such instruments? Why did they not purchase those instruments? Read my posts carefully again which you have graciously copied for easy reference. Especially my second sentence which suggests barring people with low IQ from purchasing such products.

One must discern carefully in any decision where the investments whether monetary, time or effortwise is significant.

Greedy bastards cannot survive unless morons exist.

If vast majority of Singaporeans bought those investment instruments, there will a riot, the PAP will order the banks to pay immediate restitutions to avoid it and to survive politically.

So what happenned to the Lawsuit, any legs stand on?

Next time, read things properly, get it into context and if you still don't understand, talk to a friend who has a higher IQ than you do. Don't talk to a stranger, they will not be honest enough to say that you are incapable of understanding simple things.

If you cannot understand any other posts by me, just repost it here and I will explain patiently.

 

[masgnoeL]

As usual you missed the point. The vast majority did not purchase such investment instruments. Did Tan Kin Lian and company purchase such instruments? Why did they not purchase those instruments? Read my posts carefully again which you have graciously copied for easy reference. Especially my second sentence which suggests barring people with low IQ from purchasing such products.

One must discern carefully in any decision where the investments whether monetary, time or effortwise is significant.

Greedy bastards cannot survive unless morons exist.

If vast majority of Singaporeans bought those investment instruments, there will a riot, the PAP will order the banks to pay immediate restitutions to avoid it and to survive politically.

So what happenned to the Lawsuit, any legs stand on?

Next time, read things properly, get it into context and if you still don't understand, talk to a friend who has a higher IQ than you do. Don't talk to a stranger, they will not be honest enough to say that you are incapable of understanding simple things.

If you cannot understand any other posts by me, just repost it here and I will explain patiently.

You are talking rocks, as usual. One moment say this, another moment say that. The rest of the time, you do what you do best ie cut and paste to pass off as your own. When cornered, it is your flair to twist and turn, talk further rubbish to confuse further. But unfortunately for you, I have high enough an IQ to know that I am dealing with an eel, as slippery as it comes.

In future, try to show some integrity and dignity in your posts. You do look silly and deceitful when in one post, you so thoroughly support "the authority" in its approval of those "deceitful and risky" structured products and yet in another post, you agree so thoroughly with another poster that "the authority" is a "greedy bastard".

So rather than owning up to your own hypocrisy, you choose to give the excuse your language is too complicated that I find it difficult to understand you? Think again. I know you are a slippery eel and will change your tune when you are exposed, as clearly you are doing so now.

Enough said. Don't bother to reply as I am really done with you regarding your flip-flop on this "MAS is a greedy bastard" matter. :(

 

[scroobal]

You are talking rocks, as usual.

It always pays to read carefully whether its an investment brochure or a post in this forum. Hope you learnt a good lesson from this.

Greedy people cannot exist without suckers feeding them.

 

[masgnoeL]

It always pays to read carefully whether its an investment brochure or a post in this forum. Hope you learnt a good lesson from this.

Greedy people cannot exist without suckers feeding them.

I notice you like to talk rubbish and post incoherent nonsense when you are exposed and cornered. :oIo: