Despots losing Singaporeans money to foreigners
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No prizes for guessing at what price the despots bought....
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No prizes for guessing at what prices the despots bought....
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No prizes for guessing how many billions of Singaporeans hard earned money the despot lost to foreigners just from these two...from all the hidden and open taxes they relentlessly take....and say it is for helping the poor....dishonorable despots... persecuting opposition and suing international press organisations to cling on to power...
Think they have divine right to rule? Think they are the perfect son of god? Cancer patient more like it...
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UBS Moves to Raise $15 Billion - by issuing sharply discounted shares
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<!-- function submitCCCForm(){ PopUp = window.open('', '_Icon','location=no,toolbar=no,status=no,width=650,height=550,scrollbars=yes,resizable=yes'); this.document.cccform.submit(); } // -->PARIS — The Swiss banking giant, UBS, said Thursday that it would raise more than $15 billion by issuing sharply discounted shares
Stupid despots take millions in public money and lose Singaporeans hard earned money to foreigners....
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Andrew... I was thinking of giving them the benefit of the doubt, it was heavily for super long-term, and is a lifeline to the flailing US finance industry. So... maybe international politics was involved...
Otherwise... it shouldn't be that hard to see that a number of technical indicators were actually pointing to a devaluing of the stock...
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Don't worry.
The additional revenue they get when they increase GST to 15% and the longer they keep your CPF monies from you will help cover all these losses.
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They already make it compulsory that you cannot touch the first 20k of your CPF... Wonder why...
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You cannot give them the benefit of doubt!!!!
It is not their money!!!!
They are most dishonorable to take the people's money and then lose it to foreigners.
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What can you do?
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Losing billions and still trying to look cool by telling stories of long-term gains versus short-term pain. The most critical question citizens must ask at this juncture is: If a PM or MM is against company or other laws for conflict of interest making himself the advisor to a foreign power or foreign bank like Citibank or UBS and some crises are to happen to such banks of which he is the advisor is it right for him to use people's monies to save such banks from collapse calling the whole deal long-term investment strategy?
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Unbelievable but true. It is happening in our First-World little red dot.
Whenver people are questioning why we are losing billions of our citizens' hard-earned monies in rescuing foreign banks invariably we are told that such investments are long-term investments.
What is long-term or short-term investment. Any strategic positioning in order to stay on top of the situation or opportunities?
There are some who insisted on calling such losses in Shin Corp once as long-term investments too. They even countered the query with an question over such losses like "How much does GIC lose in Citibank"
So far we hear of no basis why certain investments which were over-hasty or implusive resulting in collapses of share prices such as citibank were regarded as long-term and if they are long-term why can't we wait till the dust settle and pick such purchases really worth the long-term instead of becoming their princely white knights.
The root of the problem is monies belonging to the citizens or public trust funds are not GIC or ministers' own monies. As such they can afford to take the "head I win tail you lose" hazardous gut feel investment approach shown by Temasek and GIC in all these earlier investment losses amounting to billions.
In such an approach based on gut-feel ministers could easily gamble away citizens' monies like Neeson in betting against the market, Each time he made a wager and lost monies he could easily double the bet and go for another round hoping the market will turn to his favor.
It is no different from gambling. Our Temasek losses in Shin Corp is no different from Neeson's "double-or-quit" gut feel wager. Even a person as highly intelligent as Mahathir has lost heavily in the tin market not to mention Neeson partly because the monies these gutsy people are betting with are not their own monies.
Yet when they lose the bets they could easily come up with an excuse to explain losses relying on some "head I win tail you lose" double talk. If they win they will say they win and claim credit but whey they lose they could easily push the blame to long-term investment.
This is where the danger is : government may end up behaving like Neeson or Mahathir betting against the market resulting in heavy losses.
We need to have people with proven capability or shrewdness like Buffet to go for this type of investments.
If it is neeson's own monies do you think he dares to throw the dice in such a rash double-or-quit manner as he has done in losing the whole of Baring.
Therefore the more pertinent question one should ask is not how much does GIC lose in Citi but accountability in investing monies belonging to the citizens.
Do not behave like Neeson or Mahathir. One should not try to use gut feel but be substantiated by strategic positioning versus the whole market forces within the control of the decision makers. Buffet is on top of the situations of risk but not so with GIC as seen in Shin Corp or Citi.
We should not just ask: "How much does GIC lose" Instead we should ask can we afford to throw good monies after bad as seen in Shin Corp, UBS or Citi and please also learn from how Neeson bet against the market and lost the whole of Baring.
There is of course no pain to MM or GIC to lose such monies. If it is their own monies it is doubtful if they dare to make this kind of investments at the onset of major subprime crisis as they have done.
The short answer is learn from the fiasco in Shin Corp and not lose any more of people's hard-earn sweat and blood monies in such a cavaliar manner. -
We will miss , Late-ex-president Ong Teng Cheong for bringing up the issue of "Controls" in the Government as the role of the president at watch.
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New heavier losses to foreigners, Singaporean's money from open and hidden taxes.... despots...
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Even heavier losses as of today....
useless despots... Singapore do well because of the hard work of the people and they take the money buy foreign shares and lose the money.... and to ensure that they do not suffer the consequences of their stupidity and nepotism, they persecute people like Dr Chee Soon Juan....
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i dont really think they are really that dumb to invest in money losing ventures(after all, they are well known money grabbers and money hoarders)
i prefer to think that they took the money to line their own pockets as i prefer my gahmen to be smart but corrupt instead of dumb but have intergrity.
anyways, spore gahmen already practicing legal corruption as they can set their own salary to be as much as they want so what is the big deal about a little bit of illegal corruption.
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This is just a paper loss. Only when the companies go bankrupt before we would make a real loss.
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paper loss is not loss????!!!!! That's just delusional.
If you did not suffer the loss, you could for example buy a lot more shares than what you have at the moment... for example you paid S$3 billion for a 10% stake, whereas if you buy now, with S$3 billion, you could get a 20% stake and you cannot use the S$3 billion to get a 20% stake because? Right, the money is lost.
Don't live life in a delusion and let propaganda delude you. -
"Investing" money into American economy is one very good method of __Fill in the blanks__ the Americans.
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Originally posted by eagle:
"Investing" money into American economy is one very good method of __Fill in the blanks__ the Americans.
fellating?LKY is good at that?
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Originally posted by maurizio13:
fellating?LKY is good at that?
That's the job for our resident Gollum
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....they just keep on taking more and more from Singaporeans and lose more and more to foreigners....
...nepotism, cronyism, unaccountability, irresponsibility and DISHONORABLE
Barclays (NYSE)
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..they claim credit for the success of Singapore when it is the hard work and sweat of everyone here...
...if it depended on the dishonorable despots, Singapore would be like Zimbabwe by now!!! Yet they claim credit and pay themselves millions in salaries, persecute the opposition like Dr Chee Soon Juan while they lose billions of the people's hard earned money to foreigners!!!!! -
projectional economics has some level of risks of course ... the margin of risk must be acceptable ... what can mitigate the risks? mergers, partnerships?
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Vietnam may be heading towards financial crisis - Straits Times (but not free story)
Investments in Vietnam will suffer from a sharp dong depreciation, at least in the short term. Singapore companies with substantial investments there include Keppel Land and Sembcorp Industries.
Potential huge paper loss only