I know that many of my former colleagues have ended up driving taxis.
In the 80s and early 90s, they were riding high and were hot shots in MNCs. However, instead of investing their money wisely, they bought Mercs and fancy Condos that cost the earth all for the sake of showing off that they had "made it".
A few of them actually made a huge amount of money when their units went "en-bloc".
So why have they ended up penniless and have to drive taxis for a living?
The answer is "greed" and "vanity". When money is too easy to come by, it is also easily lost.
You cannot blame the PAP for that.