Meeting at Speaker's Corner 18 Oct, 6-7 pm

[Ah Hai]

Re: 12 Comments

Friday, December 12, 2008
Citigroup and UBS Agree to Buy Back Risky Securities
The regulator in USA look after the interest of consumers. I hope that the regulator in Singapore can follow the same example. Tan Kin Lian

http://www.nytimes.com/2008/12/12/business/12auctions.html?ref=business

December 12, 2008
By THE ASSOCIATED PRESS
WASHINGTON (AP) — Two banking giants, Citigroup and UBS, agreed on Thursday to buy back nearly $30 billion in risky auction-rate securities that regulators said the banks had marketed to customers as safe.

The Securities and Exchange Commission formally approved the settlements with the two banks after preliminary deals that were reached in August.

Securities regulators in Texas and New York also announced details of final agreements with the banks.

Tens of thousands of the banks’ customers bought the auction-rate securities before the $330 billion market for them froze in mid-February, the S.E.C. said in announcing the final accords.

The new settlements were the largest return of customer money in the agency’s history and all the investors will be made whole, the chairman of the S.E.C., Christopher Cox, said in a statement.

Citigroup and UBS of Switzerland neither admitted nor denied wrongdoing under the settlements.

Citigroup agreed to buy back about $7 billion in the securities from affected customers, while UBS’s repurchase totaled $22.7 billion.

The settlements require federal court approval. The banks agreed to refrain from future violations of securities laws.
Posted by Tan Kin Lian at 1:28 PM

 

[Ah Hai]

Re: 12 Comments

15 Comments

Anonymous Anonymous said...

The SEC has ruled there is violation of the laws by selling assets as safe
which are not.What about MAS?

1:46 PM
Anonymous Anonymous said...

MAS - Do the RIGHT THING !!!

1:51 PM
Anonymous Anonymous said...

MAS has clearly not been on top of things as a regulator. This is now the time to do what its duty entails and to resolve the issue quickly. The issue is really not that complicated.

2:13 PM
Anonymous Anonymous said...

MAS wait and see what others do, then they decide. But don't be too optimistic. They may not follow what others do. And what can we do if they don't? Class action lawsuit, I suppose.

3:00 PM
Anonymous Anonymous said...

I understand from Taiwanese TV programme that those mini-bonds bought after Sept 1 will be refunded 100%, is this true how Taiwan monetary authority handled it?

4:13 PM
Blogger last breath said...

I have bought structured products which were mis-represented to me using my entire hard-earned savings. Now, I have failed to seek recourse with my FI and I am at my wits' end! Can MAS not hear our desperate cries for justice?

4:50 PM
Blogger Concerned said...

Obviously there is a lot of similiarities between the auction-rated securities and those structured products marketed here. Both are risky financial products marketed as low risk products to induce customers to purchase them. What is more appalling is that those purchasers of auction-rated securities are much more knowledgable than the local purchasers of credit linked products in terms of financial knowledge of the securities marketed and yet the SEC deemed it fit that customers should be fully compensated.

We saluted the Securities and
Exchange Commission and the Securities regulators in Texas and New York on their civility consciousness.

5:17 PM
Anonymous Anonymous said...

Yes, MAS should step forward more positively. The ordinary investors like us will not be able to fully appreciate and understand complicated products like Minibond and the regulator must step in to safeguard their country men to prevent such products being sold in the market to the ordinary citizens.

6:55 PM
Anonymous Anonymous said...

If we sue our banks/distributors here,can our lawyers use this ruling as a point to our advantage?

7:43 PM
Anonymous Anonymous said...

Hi Mr. Tan,

Maybe there can be a poll on Mr. Tan for President?

7:44 PM
Anonymous Anonymous said...

Then how about the Merrill Lynch Jubilee Series 3 Notes ?

Any News.

7:51 PM
Anonymous Anonymous said...

In comparison, the amount here, even to be fully settled, is small, a drop in the ocean, but is this pill too bitter for the FIs to swallow? Certainly yes, as the FIs here are over-protected, spoilt. They need a big stick, not persuasion. Wait for further direction from Mr. Tan KL, wait for legal opinion from the experts.

7:53 PM
Anonymous Anonymous said...

What can we say???
Sad!!!!

9:01 PM
Anonymous Anonymous said...

It's an Asian thing, the Authority cannot "lose face" so they cannot admit mistake. So it's a waiting game, wait for Banks to admit and pay up. In Hokkien, they say you will have to wait for "Tan Ku Ku", my brother to show up.

Tan Chin Ku.

9:14 PM
Blogger Wayangnologist said...

the reason for these buybacks is becos that is one of primary conditions they HAD to agree to if they are to be granted EVEN MORE bridging loans (or maybe other favorable sweeteners) to tie over the lull market


THINK "BANKER"


Which one would let go of that Dollar note in his right hand

UNLESS hes getting a Hundred Dollar note in his left!?

11:07 PM

 

[Ah Hai]

Re: 12 Comments

Friday, December 12, 2008
Financial Talk and Counselling - Sat 13 Dec 2-5 p.m. URA Center
Organised by The Society of Financial Services Professionals

As the effects of the recent economic crisis begin to seep in, one of the biggest question looms over our heads: what are the social and economic rights of ours that should be protected? Healthcare, too, is a fundamental part of these rights that we deserve.

A qualified group of consultants will give a forum that will promote awareness on our social and economic rights. Join Tan Kin Lian, Leong Sze Hian and others* for this session on how your dollar is related to your rights. Following the talk is a financial consulting session for all participants hosted by the Society for Financial Services Professionals.

Venue: URA Auditorium
Date: 13th December
Time: 2 - 5pm

http://u60sg.org/2008/11/08/financial-counselling/

Posted by Tan Kin Lian at 11:07 PM

 

[Ah Hai]

Re: 12 Comments

Friday, December 12, 2008
SCMP:Troubled minibond investor attempts suicide
Regina Leung, Dec 12, 2008
A 45-year-old widow - believed to have lost HK$5 million of her late husband's insurance money in Lehman minibonds - was discovered on Thursday night trying to kill herself, local media reported....

http://www.scmp.com/portal/site/SCM...0a0aRCRD&vgnextfmt=teaser&ss=hong+kong&s=news

http://www.mpinews.com/htm/INews/20081212/gb51053i.htm
Posted by Tan Kin Lian at 11:26 PM
1 comments:

Wayangnologist said...

this is very sad news i'd have to admit

theres still a world of difference between Life and Material Wealth


not all can see thru that in midst of anguish and confusion and especially desperation which i have been trying to warn against
11:32 PM

 

[Ah Hai]

Re: 12 Comments

Saturday, December 13, 2008
HK investors protest over mis-selling of Lehman-linked products
December 12, 2008

HONG KONG - MORE than 200 Hong Kong investors marched on 20 local banks on Friday to demand a full refund of the money they lost after putting it into financial products backed by failed US giant Lehman Brothers.

The protesters, who said they were mis-sold the products by the banks, complained of being frustrated that little action had been taken by the banks and financial regulators to settle their cases.

A large team of police officers escorted the protesters as they marched along Des Voeux Road, one of the busiest roads in the city’s central business hub, stopping at almost every one of the banks.

‘You do not have any more credibility. Had it not been your inaction, we would not have taken to the street so many times,’ Phillip Khan, spokesman for the Alliance of Lehman Brothers Victims, which organised the march, told the bank staff through his loudspeaker.

One of the protesters, Yau Pui-fat, said DBS Bank had not contacted him since September when a staff member told him his investment in Lehman Brothers’ structured notes may have become worthless.

‘I am hoping they will return me the money. But they do not even bother to call,’ the 65-year-old told AFP.

Each of the banks they had visited was guarded by staff and security guards at the entrance.
More than 40,000 Hong Kong investors - including many retirees - had put a total of HK$15.7 billion Hong Kong (S$2.99 billion) of their savings into mini-bonds and other complex products backed by Lehman Brothers, which filed for bankruptcy in September under mountains of debts. — AFP

http://www.sgpolitics.net/?p=1544
Posted by Tan Kin Lian at 6:23 AM

 

[Ah Hai]

Re: 12 Comments

Saturday, December 13, 2008
HK: Minibond losers back on the street
Peter So, Dec 13, 2008

Close to 1,000 investors who have lost billions on Lehman Brothers' linked derivatives took to the street again to express grievances against the government and regulators - hours after a widowed investor was rescued from a suicide attempt. ...

http://www.scmp.com/portal/site/SCM...0a0aRCRD&vgnextfmt=teaser&ss=hong+kong&s=news
Posted by Tan Kin Lian at 8:41 AM

 

[Ah Hai]

Re: 12 Comments

Speaker's Corner, 13 Dec 08, 5-7 pm
Venue: Speaker's Corner, Hong Lim Park
Date: Saturday, 13 Dec, 2008
Time: 5 pm

I will cover the following topics:
1. Queens Counsel opinion
2. Briefing of investors – Lawyer
3. Investors of High Notes
4. Investors of Minibonds
5. Legal action
6. Legal action in USA
7. Dual currency investments
8. Consumer association for financial services.

Tan Kin Lian
Posted by Tan Kin Lian at 11:50 PM

 

[Ah Hai]

Re: 12 Comments

Saturday, December 13, 2008
Rejection of travel insurance claim
Dear Mr. Tan,

I wish to seek your opinion and advice on a recent travel claim.

I bought a Travel insurance coverage for myself and my wife for travel to Spain/Portugal. During the trip, we received an urgent call from the travel agency that my wife's brother had a critical stroke and in coma at a hospital. The tour group were 3 days into a tour of 15 days.

My wife and I took a taxi from hotel to the airport and a shuttle flight to catch the SIA flight back to Singapore. We rushed to the hospital and managed to bid farewell to my wife's brother who passed away on the same day.

I submitted a claim for the taxi fare to the airport, shuttle fare and pro-rated reimbursement of 12 days.

I received a letter from the insurance company stating that:
"a - taxi and shuttlefares as expenses incurred after the trip curtailment is not payable under the policy cover
b - trip curtailment expenses for me as the deceased is not considered as a family member under the policy definition."

I would appreciate you frank opinion on 'a' and 'b' before I pursue the matter further.

LNW

REPLY
In my frank opinion, the insurance company should pay your claim, which is quite reasonable and is connected to a covered event. I am sad that they have taken this approach, which is not fair to the policyholder.

If they reject your claim, you can file a complaint with Fidrec, www.fidrec.com.sg
Posted by Tan Kin Lian at 10:18 AM

 

[Ah Hai]

Petition Form for Elected Presidency

Saturday, December 13, 2008
Petition Form for Elected Presidency
Note: If you do not wish to disclose your full NRIC, you can provide only the first 3 digits, ie XXX.

If you wish to help to collect 100,000 signatures, please print this form and get 20 signatures.

www.tankinlian.com/forms/epsingapore1.pdf

Please scan the completed form (with 20 signatures) and send to the e-mail address shown, i.e. [email protected].

Sign the online petition:
http://www.petitiononline.com/TKLFPO1/petition.html

New online form (optional particulars)
http://www.petitiononline.com/TKLFP02/petition.html

Mail to completed form to:
5 Ang Mo Kio Industrial Park 2A, #06-12, S(567760).

Volunteers to help in getting signatures:
http://www.petitiononline.com/VTHTKL1/petition.html
Posted by Tan Kin Lian at 9:30 AM

 

[Ah Hai]

67 comments:

Anonymous said...

the form would be scanned, why not sign it on line?
3:17 PM
mel said...

8 second survey - Elected Presidency - TKL
YES , NO ?

http://spreadsheets.google.com/viewform?key=pRBvVOyafi_N_EBHn0i5pYw
3:23 PM
a said...

I suggest you go for the presidency as you will be in a better position to question the Government. As MP you will be one lone voice raising questions which will be recorded and forgotten, and cannot effect any changes. Also more of us can vote for you as P whereas we cannot vote for you as MP as 90% will not be in the same constituency.

Also when you take on a ward there will be other factions that will dilute the vote, so go for the Presidency and give us more transparency.
5:44 PM
Loh Hon Chun said...

There are too many petitions going on for the same purpose. Can we just have one?

The one from google spreadsheet does not have personal info and I would think it is not as ideal as the one from petitiononline.

One question I have is how PetitionOnline handles all the privacy info like NRIC, Name, etc. Hope these info will never be made public and be exposed to unwanted crimes.

hongjun
6:07 PM
Anonymous said...

Mr.Tan,
you need to place in on top of your blog so people can see it.
7:29 PM
LSK said...

My guess is non Singaporean should not sign this petition as this might raise problem for Mr. Tan in the future when the petition is scrutinised.
8:11 PM
Anonymous said...

I am disappointed that you are going for elected presidency if the people want you to lead them to.

You can't do much for the people as president.

I am in the opinion that you can do far more for the people if you be elected to be a member of parliament instead.
10:07 PM
Anonymous said...

Anyway.. It makes no difference whether MP or President, you might not be able to survive long. Politic can be a ruthless game.. might not suit you.. please reconsider..

What you are doing currently, is best suit you..
10:40 PM
Anonymous said...

Seems that Mr Tan is very quick to exhibit his political ambition...
11:00 PM
Yan Siyu said...

Dear Mr Tan,

Your previous entry has 81 comments (too many) mine will be buried in those.

I m not too sure if anyone has mentioned this. Aside from the Title that has an distorted angle using words like "REVEALS" and "AMBITIONS"

I wish to highlight the photo that they use! No offense or pun, they have chosen a photo that showed you frowning (with the multiples wrinkled lines on the forehead, a queer angle, and with a somewhat crooked smile)

To be honest, if i hadnt know you, or some common folks who never read about the good deeds you had done over the past years (started with the educational blog to the DBS high 5 notes saga) that photo would have "turn" them off. I did a check with my maids who i told them to just go based on the looks; they shaked their head vigorously.

Well, i think you are def. not in favor with the local press, and we know who owns the media in Singapore. =p

(In no way am i commenting how you look, just the way the photo was purposely taken and represented with the headlines in the SUNDAY TIMES)

Wish you all the best, i ll be printing and getting the signatures from my frens and family. = )
11:04 PM
Anonymous said...

Post this in all major news forums e.g. stomp, asiaone forum. Should be able to generate more attention by getting Xiaxue or Dawn Young to endorse Mr Tan. Anyone is a close pal of these gals?
11:10 PM
Anonymous said...

Mr Tan,

I think you have no intention of going for MP or EP. That's why you stated 100000 target which may be quite impossible.

It's like some people quote a very high price to certain customers because they do not want their business.

Or if I do not really want to do something another way of saying it is I will do it if pigs can fly.
11:37 PM
Anonymous said...

Hi Mr. Tan,
Please include Chinese/Malay/Tamil translations on the form so that the older than 62 and uneducated also could read.
12:14 AM
Anonymous said...

I am in for the petition.
12:41 AM
NoOption said...

I want to communicate this message to Mr. Tan, "Please Stay away from Politics" but the online petition doesn't have the option. Could you please provide this option.


PAP is doing good things for Singaporean.
4:08 AM
Donaldson Tan said...

Hi

You have my support for whatever public office you are running. However, I would like to stress that you must not let GE be a distraction to your underlying social cause for the distressed investors, otherwise all may be lost.
5:00 AM
Donaldson Tan said...

NoOption,

You have the choice to not sign the petition at all. We vote not because what PAP did, but because we have a certain expectation of how our country would proceed towards the future.

PAP's track record is no evidence that PAP will continue to do a good job or that PAP's direction is what all Singaporeans aspire.

Unlike PAP, which rob options from citizens through presumed consent via the GRC, by refusing to sign the petition, your consent is not presumed.
6:05 AM
Anonymous said...

NoOption,

Have you opened your eye wide enough when you said "xxx is doing good things for Singaporeans"? Perhaps you are just greedy with the little good things (small cash handouts) tossed by xxx from time to time.
9:28 AM
Anonymous said...

I agree that Mr Tan has no intention of being EP or MP. The 100,000 target will be difficult to achieve.
9:42 AM
VS Lingam said...

Dear Mr Tan KL,

You have my vote.

I suggest you pls go for MP position, preferably leading a GRC at the next election. You (and your GRC team) can do more for sg grassroot ppl as an MP, rather than an EP or NMP.

It may be better if you stand as an independent, as there is still some phobia about opposition political parties. Independent candidates may contest a GRC, provided all independent members of your group stand as a team.

I see this as the best option if sg wants to have a serious, alternative, constructive voice in parliament.
10:10 AM
Solo Bear said...

Mr Tan,

I have commented a few times before that you have done a good job. I still feel that you are doing a fine job.

I don’t wish to dampen the mood, but I think it isn’t wise to do two major things at once. I feel that if you do wish to get into politics, it should be done AFTER the investor crisis is resolved, OR, when elections are called.

In doing both at the same time, there may be adverse effects, which are:

1. You opponents will wait eagerly like hawks, hoping for the killer move to pin you down that all your hard work at Hong Lim is really nothing but a prelude to garner popular vote, for your entry into politics.

2. You will be able to garner many supporters who have absolutely no interest in the credit crisis. They may then pressure you to divert your energy towards politics, rather than assist you in your original intent – ie to help the layman on the street to recover their losses.

It would sadden me if we get to see that your original intention to help the laypeople gets hijacked due to one or both of the reasons above.

The above are just my thoughts. Of course, the final decision is yours. In any case, it is a little too late to back off now. You have more or less committed yourself publicly.

Good luck and all the best to you.
10:17 AM

 

[Ah Hai]

Re: 67 comments:

C H Yak said...

NoOption,

I believe the petition is a "opt-in" to support Mr. Tan in a democratic way. If you are for "Please Stay away from Politics" option, then just don't opt-in, stay away from signing to support him.

Think simply, and clearly like what Mr Tan K L always do. Why must your option "Please Stay away from Politics" be added to complicate, confuse and dictate to others your "option".

Don't think so "complicated-ly" to confuse others and dictate things to be done "top-down" like what our politicians quite oftenly do.

When you do things for the good of the general public, think "bottom-up" and be people-centric first.
10:28 AM
Anonymous said...

Mr Tan can be a EP or MP not nec Opp MP. He can be independent.
10:44 AM
Anonymous said...

Mr Tan

This is going to be a bit long.

I suggest you go for MP first. Get a single ward and run as Independent. Go for the exposure and explain to Singaporean why you are doing it. Do not form a opposition party, But stand as Individual, explain your manifesto and I am very sure Singapoean will understand! Your chance of wining is low but I said it is for exposure, go for rally, you surprise there will be people helping you along. I am very sure you will not loss your deposite.

After election (that say in 2011), Singaporean will know you better, than is time to run for Elected President. You will be stronger and believe that you can make a difference even at 60 years old and as you say why get yourself into trouble where you have enought money! I encourage you to fire up and ready to go and shown it to the youngster that there is much to learn than just look after their money pocket. The GE is to fire you up and brush up your political and rally skills improve your Chinese. I am sure people of your age malay is not a problems! Chinese is very important, that include dilects.

Above all, do talk to your wife, he must be ready to be First Lady, tell her that there are people who want an alternative voice like you. Singapore is getting harder to leave. I remember the good old days of 70 to early 80, things are cheap, we work hard, People trust the Government and we build HDB flats because we allow the government to do land acquisation at very low cost and built low cost house for us. Now look at the HDB price, my god! HDB going for 500K (brand new) in good location.
electrical bill going up while others are dropping!

Lucky we got Mr Khaw for health minister, he stop the spiralling cost and introduce the Mean Testing. He is a good man but who many of this type minister can we find! i am most worry when Mr Khaw is gone , they will use the Mean Testing and test it to the extreme.
I have not qualms with Mean testing, but use by government it will go the extreme. trust me, it will happen. Then it will be very sad! When the next young Health Minister come in.s

I leave in Woodland and I can tell you that he really do this job, constant visit, improvement in public areas, he got the Buddha Look and people give way to his Tao way of doing things. Unlike the rest, bulldoze and get objectives done and after 5 years wash hand and go to another ministry. Some new minister come in and CHANGE AGAIN. That what they call CHANGING WITHIN!

HA HA HA


So Mr Tan Fire Up and ready to Go
I have sign the petition although my wife advise me otherwise(because she a civil servant and I work in the GLC!) I just told her this got nothing to do with my daily job.

This is a bigger calling, I just don't the resume to do the job!

If you need help to run, I will be happy to apply leave and help you in whatever ways. carry table and chairs and doing simple jobs also can.

I write again next time to explain to you why your chances of winning is very good!

lim Cy





I will take leave to help you along,
10:59 AM
Anonymous said...

Mr. Tan,
I hope if elected President Donate 1/2 of your annual salary to the poor and needy/charities. During the President Charity Show.....make your Donations Life to start with!

JOJO
11:10 AM
Anonymous said...

Obama's Slogan "CHANGE WE NEED"
Suggest the other way round "NEED WE CHANGE?"
Nevermind MP OR EP ...keep trying!
With your stature and experience you surely can achieve your game to be EP or MP, unless ERP (Entry Restricted Presidency) is the only obstacle!

ST Reader.
11:30 AM
Anonymous said...

I don't know how to quite put this in a good manner across. Mr Tan, if you want to help the people out of altruist reasons, then please go ahead and run for the Presidency of Singapore or be a member of Parliament. No need to do all these petitions online / offline to garner support.

It's akin to saying this to us, "I don't want to lead but coz you people ask me to, I will lead". It's like shifting the responsibility of whether you want to run for presidency to us, the people. If that's the case, can I conclude that you are reluctant to lead us? If you want to run for presidency, just go ahead. Don't shift the onus of decision making to us. It'll just prove your critics right.

If you ask me whether you have my vote, I'll Keep in View first. That's because I want a candidate who WANTS to lead the people and help them and not someone who NEEDS to lead the people. A leader should lead because he has the abilities to and want to, not someone "reluctantly" petitioned to lead. My vote depends on whether my comment gets posted / how you respond to it.

Thoughts of a Concerned Citizen.
12:25 PM
Anonymous said...

It will be good to see if TKL fight for the oposition MP.
I am sure he will succes.
1:35 PM
Anonymous said...

Reading the newspapers, i had the feeling that Tan Kin Lian is torn between personal inclinations and family pressure (to stay clear and be safe rather than sorry in potential dirty political scenarios). so perhaps he made the petition as a means to find a reason this way or otherwise to give peace of mind. I can bet a $1000 that even without the petition, he will be an instant hit in the elections if he decides to be a candidate. Incidentally I support the petition 10000% and definitely vote for him.
1:48 PM
Anonymous said...

You have our vote Mr. Tan ! We need people like you who can be a voice for the common man. The current gahmen are too high up in their ivory tower to feel the pain of our struggle with the current high cost of living. Other countries are reducing GST and utitlities prices for example, what is our gahmen doing for us ?? All they do is to keep raising prices and raising their million dollar salaries !!
3:21 PM
Anonymous said...

Mr. Tan,

I tried to sign the petition but failed. what do EP and MP stand for?

XH
3:36 PM
Anonymous said...

i do not support these petitions for Elected Presidency right now. Why? Because that means that there are 2 issues on the table fighting for attention at the moment.

1. The Original issue of investments/structured products etc which is still not resolved yet

2. The new issue of elected presidency

I feel that having them both at the same time will lessen the focus (both of the media) and of Mr. Tan yourself. It might be a better choice to focus on one first so more attention and resources can be devoted to it.

Further, the attn of both the media and the population can be focused more effectively instead of having Mr. Tan stand for 2 issues at the same time. My fear would be that the original issue (accountability of financial institutions and MAS) might be forgotten/ or the focus might lessen.

All the best Mr. Tan.
3:39 PM

 

[Ah Hai]

Re: 67 comments:

C H Yak said...

Anonymous 12:25PM

Someone who WANTS to help the people "out of altruist reasons" may or may not be a good leader, and he could harbour his own hidden further agenda, say to earn a million-dollar salary. "WANT" signifies self-centredness. Self before 100,000 common people.

Someone who NEEDS to lead the people when given "100,000" signatures will quite certainly make a good leader who harbours no hidden agenda. The majority needs him to lead. He fights for the majority who are right.

100,000 signatures and votes can still defeat 1 supposedly hard-earned "bargaining" vote from a very concerned citizen. This is the beauty of true democracy.

In similar logics, you may give your vote just because you simply think you WANT to bargain in your agenda. (To Quote you : "My vote depends on whether my comment gets posted / how you respond to it"). And not because 100,000 others NEED you to give your vote. To these 100,000 your vote would seem im-material, and they do not NEED your 1 precious vote. LOL.

100,000 signatures and votes also signifies active citizenry. It means a NEED to vote in someone whom you think is a good leader who will fight for your beliefs and causes, and not just because you WANT to cast a vote because you are a concerned citizen.
3:48 PM
Anonymous said...

I think going for MP is better. Being the president doesnt help change things. Building a credible opposition with the long term goal of taking over the goverment is more useful. Either way, I Support you!
4:47 PM
ttg said...

hi Kin Lian,

I've followed your blog ever since you started championing for the minibonds investors. I respect you for what you have done.


My hope is that you don't be a reluctant politician. We've got one too many of such examples already in Singapore and it sucks. Imagine taking home millions of dollars of tax-payer's money, and justifying their non-action by convincing themselves that they had to sacrifice to get into such positions.

The petition is lame. There is no shame in wanting to serve Singapore. If you openly say you want to run for office, I will respect you for that and will vote for you. I'll even donate to your campaign (is it legal?). Please don't run for office just because XXX number of people asked you to. Does it mean that if your popularity drops below XXX, you will no longer want to serve ?

Show us your commitment, and we will give you our support !

ttg
10:15 PM
Anonymous said...

If you stand for GE. You'll be chopped and run down by the ruling party.They'll dig your past for misdeeds and discredit you. They'll sue you until you're bankrupt if you slander them.They'll leave no room for you to manoeuvre and breathe. If you have to attack them,attack their policies and not their personalities.A word of caution: Don't loose your head when the crowd reponses to your
speeches.
10:47 PM
VS Lingam said...

I think Mr Tan KL's figure of 100k votes is arbitrary. It does not mean that if he gets 99,999 votes he will not run for MP. I feel that even if he gets about 50k votes (or slightly less) he should go for it.

As a political darkhorse, one has to gauge ground support before embarking on this job. Of course, if you standing with the ruling party, you can walk into parliament easily riding on the coattails of the veteran politicians. Mr Tan KL does not have that luxury.

It is pointless if you have the interest to lead but no one wants to follow. Sun Tzu said "A general cannot fight and win a war without soldiers".
10:49 PM
Anonymous said...

How I wish there are some 10 to 20 or even more Tan Kin Lians who can come forward and work together to form a political party to contest the next GE.

This will be heaven for Singapore's future!

So the potential Tan Kin Lians among you, please don't just sign the petition but also to step forward to be counted!
11:08 PM
Anonymous said...

Has EP got a role to play in governing, and interfering into policy or omissions by ministries?
we have seen President Ong T.C. scuffle with PM years back but what happen?
EP has no active but a passive role to play.
11:31 PM
singaporeshortstories.blogspot.com said...

Hi Mr Tan,

Many Thanks for taking a step to consider standing for election for the Presidency of Singapore!
12:41 AM
Anonymous said...

Mr. Tan someone comparing your call with President elect Obama. I think they don't know it took 29 long years for you to realize PAP is not doing good for Singaporeans. Why such a long time to realize this?

While I appreciate whoever has intention to help Singapore and Singaporeans, but I urge you to show the people you have commitment and capability to run for public office before putting up any online campaign.

If they let you continue at Income, what could be your stand?
3:51 AM
Anonymous said...

From Zaobao Forum:
http://luntan.zaobao.com/viewthread.php?tid=127603&extra=page=1


《陈钦亮发起100万签名请愿竞选总统》
作为一个公民，应该了解自己国家的政治制度，知道政府是如何产生？如何行使权力？更重要的，是知道作为公民，我们有什么权利和应该如何保护自己的权利？

知道这些，我们才能够更好的作出判断 － informed decision. 就好像是否要支持陈钦亮先生的请愿书？我们就大概要了解MP－ member of parliament, 和EP－ elected president 的区别。

国会议员的职权大家比较清楚。现在说说民选总统的职权，民选总统的职权主要有：

（1）准许内阁动用历年来的储备金

（2）批准重大人事案 － 最高捡察长，大法官，公务员首长，贪污调查局局长，三军总司令，陆 海 空军总长，政联公司董事会主席，公共服务委员会主席，stat board 首长。

（3）签署国会通过的法案成为法律

（4）批准预算

也就是说， 民选总统可以否决总理的重大决定， 包括拒绝人事任命，拒绝批准会用到过往的储备金的预算。这是有形的职权。

无形的影响力，在于总统是全民选举出来的，所以某种程度上来说，是得到了全国人民的委任，可以直接诉诸民意。如果总统对于政府的政策有强烈的反对意见，就算他没有权力阻挠，也可以通过他的影响力形成民间的舆论和压力。

当初设立民选总统就是为了限制总理的权力。

=================================

请愿行动在陈钦亮的网站之Petition Form for Elected Presidency

以上都是Public information。有兴趣者可以登陆这个网站看到新加坡的宪法和所有其他的法律：

http://statutes.agc.gov.sg/
================================
关于部长和高级公务员的薪水不是由总统而是由国会决定的。

政府的权力主要体现在三个方面：

（1）立法权 － 制定法律的权力，批准预算，在国会

（2）司法权 － 审判法律案件，解释法律条文，在法院

（3）行政权 － 在内阁（总理，内阁部长，公务员，警察，军队）

总统的职权是设立来限制了总理重大人事任命的权力，和动用国家诸备金的权力。所以总统不能决定或者限制部长的薪金
12:11 PM
Anonymous said...

I will vote for you only if you manage to win compensate for the minibond victims. All action and no results is not enoughion
12:25 PM
Anonymous said...

12:25 PM,

Since you will only vote for Mr Tan if he win compensation for all Minibond victims, may I suggest that you in turn should give Mr Tan your guarantee that he will receive the votes from all the Minibond victims if he does win.

Whether you want to vote for Mr Tan or not is a personal choice and decision, coming straight from the heart. If you start attaching strings to whatever you do, you are no better than a cold blooded mercenary.

Moreover, the Minibond fiasco is like dancing a tango. You need two persons to dance. If Mr Tan does all the dancing but the government prefer to keep still (silent and motionless), then you can't blame Mr. Tan for not producing result.

Sure, I empathize with you because I am also one of the Minibond victims but we must all be clear headed to be able to differentiate what is righteousness and what is practicality.

Cyril
6:59 AM
Anonymous said...

Anonymous 12:25 passed the most selfish and uneducated comment of all. You vote for Kin lian only if he solves the minibond saga and "win compensation". Fine. You may also vote for PAP only if PAP solves the problem and "win compensation". Dang gu. Wait long long. You have nobody to vote for at the end of the day. Because the situation of the bonds is highly complex. Nobody knows which way it will go.

REX
7:39 AM
Anonymous said...

Here's a novel way to get 100K supporters.

Announce you need 100K hands to rubberstamp on Sat 2pm-8pm. No names, no signatures required. Just a hand of support.

Good luck!
10:13 AM
VS Lingam said...

12:25 PM,

I assume you are a Minibond victim. May I suggest you pls approach your MP and make a deal with him to win compensation for you. In return, you promise to vote for him next time round. Get this in writing and duly notarised. Post the agreement in this blog so that all other investors may adopt your strategy.

If only life was this simple.
10:29 AM
Anonymous said...

I've just singed the petition form online to support Mr.Tan.

I am going to the speaker corner this coming saturday.
10:39 AM
Anonymous said...

The progress of this petition seems to be very slow. When can we reach the 100,000 mark I wonder. My family members and I have signed the petition online, and I have also sent the online petition to some of my friends and asked them to send it out to their contacts as well. Is there a more effective and easier way to get more supporters?
1:44 PM
Anonymous said...

ask the investors to sign on this coming saturday at the speaker corner.
2:29 PM
ym said...

 

[Ah Hai]

Re: 67 comments:

ym said...

Mr Tan, i hope you can put a post on the recent development of our SGD to educate what tha gahmen has done with our savings and money..

SGD has been consistently decpreciating agisnt the USD even when the US gahmnen is running the printing press overtime... this implies the SG gahmen is running the printing press faster than US gahmen...

is it any wonder why the CPi keeps increasing??.. is it any wonder why interest rates at <1%??..
who is the SG gahmen bailing out??
3:34 PM
Anonymous said...

To 12.25pm:

What you said is just plain stupid. You can vote for PAP for all you want, and see if MP will do any thing for you. May be he'll tell you "servve you right for being greedy". I know that's what I'll said if I were him.
6:00 PM
Anonymous said...

Continue from 6.00 PM,

If you are misled into buying a structured product and suffered loss, your MP will tell you "serve you right for being greedy" But if the town council was misled into buying structured products and suffered great losses, the same MP will say "Please be thankful that we did not lose all your money".

Cyril
8:41 PM
Anonymous said...

Mr Tan,

You sure you want to run for elected President if 100000 signature petition achieved? Do you want to behave like President Nathan?

If not, think again. PAP only interested in another Nathan, not another Ong Teng Cheong who asked too many questions.

You will face 1001 PAP made hurdles in the contest and even more even if you are elected, if you are what you are at Hong LIm rally and in your blog.
8:45 PM
Anonymous said...

To ym 3.34 pm

"SGD has been consistently decpreciating agisnt the USD even when the US gahmnen is running the printing press overtime..."

You have made an astute observation, which I also shared.

Seriously I am concerned although the reasons are not clearly known to me. Is Sing Gahmen bailing them? Or what other reasons?
8:50 PM
Anonymous said...

KL,

It would be good to state in concrete goals what you'll accomplish when elected.
9:45 PM
Anonymous said...

Why it took 29 years for you to realize PAP is not good. If You will try and go back to retirement, what will happen to those people sign.
11:12 PM
Anonymous said...

Talking about trying to be famous. Mr Tan ah.. please try to see if you are showing bias or not. All your previous blog are showing how NTUC income insurance can better benefit the public and out stand the rest. Thats not the way to do things, mr Tan.
1:04 AM
Everlearning said...

I have been quite hesitant to sign up the recent petition.

Soon, a million visitors will be reached in this blog. You might not maintain this blog because you hold an esteemed position beyond my reach.

I will sign up to be the 100,000th petitioner.
9:20 AM
Anonymous said...

Hi Kin Lian

First of all, let me say that I have great respect for you and what you have been doing, based on your beliefs and values.

However I can't help but say that I've lost some respect for you for the following reasons.

The Straits Times quoted you as saying "Such a petition should be put together by those who are keen to see him become a leader, and not by himself, he added."

Assuming the Straits Times quoted you correctly, I cannot understand why you are now solicitating signatures for your petition to become elected President.

You may wish to explain.
11:22 AM
Anonymous said...

Mr Tan,

Like 11:22AM, I've lost some respect for you as well since this EP announcement. First it was the NTUC Income incident where you terminated the effort suddenly, then now in the minibond cases when you have not actually completed getting compensation for investors you have moved on to your own EP agenda. You need to complete the tasks and show results, not just effort.

Regards,
John
1:30 PM
Anonymous said...

whether intended or not, the announcement of Mr Tan's intention to seek support for public office will definitely help in providing publicity for the investors affected by minibond and the other credit-linked notes.

Otherwise interest in this matter will slowly ebb over time as it has been 5 weeks already.

Without the media playing up the issue, the virtual world discussions, it would be all too easy for the matter to be swept under the carpet.

So, whether or not one thinks that Mr Tan has a separate agenda, I think that his declaration of intentions for support for political office benefits more that it harms the efforts to seek fair compensation for investors.

The two matters should not be seen as mutually exclusive but rather interdependent of one another, complementing each other.

LWL
7:44 AM
Anonymous said...

I think no much support from the investors so Mr.Tan is right that Singaporean may not want change at the moment.
11:40 AM
Anonymous said...

To be fair to Mr.Tan, I can recall that the idea for Mr.Tan to stand as a candidate to be the EP was first mooted by a reader of this blog and subsequently supported by many others. Mr.Tan did not come up with this suggestion. In fact, Mr.Tan was somewhat reluctant at the begining, but later came up with the statement that he would consider only if he can get the support from fellow Singaporeans, and the figure of 100,000 petition was mentioned.
12:03 PM
Anonymous said...

Mr Tan,

You should have your own party and we will vote you in. President is too narrow and too specific.

At the moment the nation needs someone who can emphatise with them in their hardships.

They need a fellow citizen leader who can restore their rights, possessions, competence, opportunity, credibility and dignity as Singaporeans.

You will know what I mean when you are in the train surrounded by foreigners day-in day-out. You know they are here for one thing - to take your job first, then your woman, then your home and eventually your country. And my God! We are paying them to do so!!
9:38 PM
Anonymous said...

Some of the great presidents, past and present such as Mendala of South Africa, Walesa of Poland will not be able to stand for election since they will not be able to proved that they can manage $ since they were prisoner and a blue collar worker.
11:37 PM
Sam said...

Mr Tan, you will make a good SIAS president as you have the energy and the knowledge to get things done. Please consider.
8:49 AM

 

[Ah Hai]

Particulars of regular visitors to my blog

Saturday, December 20, 2008
Particulars of regular visitors to my blog
I wish to collect particulars of regular visitors (only a few fields are required, mostly optional) and to have your comments on what you like best in my blog.

Please submit here:
http://www.petitiononline.com/VTKLB1/petition.html
Posted by Tan Kin Lian at 9:45 AM

 

[Ah Hai]

Speaker Corner, 13 Dec 2008 Speech by TKL

Saturday, December 13, 2008
Speaker Corner, 13 Dec 2008 Speech by TKL
Speech by Tan Kin Lian

1. Queens Counsel opinion
I have briefed a senior lawyer in Singapore about the credit linked notes. He will be giving a brief to a Queens Counsel in London. We will wait for the QC opinion, expected in January.

2. Briefing of investors – Lawyer
One lawyer has received more than 250 warrants to act. He will be giving a briefing to the investors in January 2009. He hopes to be able to get additional investors to join the class action on the credit linked notes (except the High Notes).

3. Investors of High Notes
These investors have held several meetings. This group is well organised and will be taking separate action. They have a separate website.

4. Investors of Minibonds
These investors are also setting up a separate website and collecting data on their investors. They also plan to have a briefing of their investors in January 2009.

5. Legal action
By end of January 2009, it will be clearer to the investors on the legal action that can be taken. In the meantime, investors can read my blog for updates.
www.tankinlian.blogspot.com

6. Legal action in USA
Several investors have read news report about taking class action in the USA against the financial institutions, similar to what is being done in Hong Kong. I have consulted a Singapore lawyer on this matter. Their advice is that this approach is not applicable to us. We are monitoring the situation.

7. Dual currency investments
Be careful about dual currency investments. Some investors have lost a lot of money on this product. The bad feature is that your gain is capped and your loss is unlimited. If you are leveraged, you can loss your entire capital. I will give some examples.

8. Consumer association for financial services.
Some people have asked me to set up a consumer association for financial services. I have formed a pro-tem committee to look into this matter. The aims are to educate consumers and help them to obtain financial products that give good value to consumers. More details can be found in my blog, www.tankinlian.blogspot.com. A separate website will be set up soon.

9. Guide on making a complaint
I have distributed a leaflet giving information on the contact persons and websites that guide you to make a complaint on the credit linked notes.

Tan Kin Lian :oIo:

 

[Ah Hai]

Re: Speaker Corner, 13 Dec 2008 Speech by TKL

Saturday, December 13, 2008
Guide - how to lodge a complaint on credit linked notes
If you wish to lodge a complaint on credit linked note, you can refer to this guide:
www.tankinlian.com/forms/GuideOnCreditLinkedNote.pdf

 

[Ah Hai]

Video of my speech at Speaker's Corner - 13 Dec 2008

Sunday, December 14, 2008
Video of my speech at Speaker's Corner - 13 Dec 2008
View the video recordings of my speech here:
http://theonlinecitizen.com/2008/12...ing-lawyers-and-exploring-legal-options/:oIo:

 

[Ah Hai]

Re: Video of my speech at Speaker's Corner - 13 Dec 2008

Sunday, December 14, 2008
ProTrader - learn trading in a simulated environment
Read about this simulated game here:
www.tankinlian.com/forms/protrader.pdf

You can play the game here:
www.tankinlian.com/trader

Steps:
1. create an account will your user name and password
2. login
3. click on play
4. select the game
5. enjoy (the game comprise of 10 virtual days .. wait until end of the game)

This game teaches you the skill on day trading, based on the economic news. You can practice many times to get a feel of how the news impact on the price movements of various financial products.

This is for FUN. It is not suitable for long term investors.
Posted by Tan Kin Lian at 9:10 AM

 

[Ah Hai]

Re: Video of my speech at Speaker's Corner - 13 Dec 2008

Sunday, December 14, 2008
ERP and MRT in Singapore
By courtesy of Loh Hon Chun:
Even Adolf Hitler complains about the ERP and MRT in Singapore. http://hongjun.blogspot.com/2008/09/hitler-complaining-about-erp-and-mrt.html
Posted by Tan Kin Lian at

 

[Ah Hai]

Offer of assistance

Sunday, December 14, 2008
Offer of assistance
Mr. Paul Smith wishes to offer assistance to anyone who needs help in the following areas:

> writing complaints to banks
> writing complaints to FIDREC
> give moral support
> attend meetings at banks with complainants
> take notes
> ensure the investigative process is impartial, fair, free from intimidation and oppression

If you need his help, you can e-mail him at [email protected]
Posted by Tan Kin Lian at 5:01 PM :oIo: