This is what happens when a statutory board meant to be kept at arms length from politicians end up in the bedroom of Singapore's power couple.
Not many are aware that MAS now sits with PMO and not with the Finance Ministry. PM's wife runs Temasek which owns DBS. Not a cosy arrangement at all.
How did MAS which signed off on the instruments before they were sold to the public by the banks which did not restrict its sale like the the rest of the world. (except HK and a few unknowns)
In 2002, MAS made the biggest mistake in its regulatory history by deregulating autoloans. It allowed people who could not afford loans to be shackled at the ankles to loans that go up all the way to 10 years and in some cases, they no longer possess the vehicles. It was DBS that first pioneered cashback amounting to thousands of dollars on auto loans. Why the cashback?
Many are not aware what to do when their vehicles are repossessed, what the rules are under the hp act etc.
Good Luck Singaporeans the day JYM Pillay was relieved of MAS and politics became the order of the day.
Not many are aware that MAS now sits with PMO and not with the Finance Ministry. PM's wife runs Temasek which owns DBS. Not a cosy arrangement at all.
How did MAS which signed off on the instruments before they were sold to the public by the banks which did not restrict its sale like the the rest of the world. (except HK and a few unknowns)
In 2002, MAS made the biggest mistake in its regulatory history by deregulating autoloans. It allowed people who could not afford loans to be shackled at the ankles to loans that go up all the way to 10 years and in some cases, they no longer possess the vehicles. It was DBS that first pioneered cashback amounting to thousands of dollars on auto loans. Why the cashback?
Many are not aware what to do when their vehicles are repossessed, what the rules are under the hp act etc.
Good Luck Singaporeans the day JYM Pillay was relieved of MAS and politics became the order of the day.
