Should PM, MM, SM, GIC mgt be responsible for billions lost
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After repeatedly losing billions in bad deals like Micropolis, Shin Corp, Telcomsel, and lately UBS, Merryl Lynch, Barclay which are continuing more write-downs of asset values close to bankruptcy the citizens have lost confidence in our leaders in the quality of their decisions and management of GIC.
The government has no mandate to invest their monies in such loss-making investments.
Such investments are not authorized by the people so PM, MM, SM, ministers, and respective CEOs and professionals of GIC have to take care of people's monies and not lose any more of their monies.Those who fail to heed such trustees' fiduciary duty to exercise prudence and continue with such careless investments will have to be personally responsible for causing any further losses.
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then how? then how??????
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Robert..go join youthquake lah..you got so many idea..join them see can work or not.
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Its an honest mistake, let's move on.
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1. Finance Minister at fault for not watching GIC/Temasek closely. This one of medium importance coz FM not really the one in charge of operations.
Solution is to make GIC/Temasek to release quarterly finance reports and have them to explain their stocks and rebut critical views. Better if FM give a personal apology but no need to resign.
2. GIC/Temasek CEO at fault for being on auto pilot. As CEOs commanding super salaries, they are the ones responsible as the final check for anything and everything. So they must go.
Other ministers probably not at fault. I mean how can health minister chap finance? -
Originally posted by kramnave:
Robert..go join youthquake lah..you got so many idea..join them see can work or not.
If your MPs, and Ministers are not looking after your surpluses and are still making so much losses after what have happened in micropolis, shin corp, telcomsel, global crossing etc and with so many billions now being whittled down in subprime hit foreign banks like UBS, Merryl Lynch, Barclay etc, whatt will eventually happen to your and your children's monies. Can you hope to retire with your CPF if these monies are eventually lost in such careless bad deals.
How are you to pay for your medical bills and living expenses if GIC continues to lose billions in this manner.
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In theory, they should be responsible.
But let us be pragmatic. No one will ever dare to hold them responsible.
End of story.
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Originally posted by robertteh:
If your MPs, and Ministers are not looking after your surpluses and are still making so much losses after what have happened in micropolis, shin corp, telcomsel, global crossing etc and with so many billions now being whittled down in subprime hit foreign banks like UBS, Merryl Lynch, Barclay etc, whatt will eventually happen to your and your children's monies. Can you hope to retire with your CPF if these monies are eventually lost in such careless bad deals.
How are you to pay for your medical bills and living expenses if GIC continues to lose billions in this manner.
I only asked you to go join youthquake. The topic is Singapore Transportation. You can go give them Ideas. You have a lot to say about ERP as well. If you don't understand I can Type in Mandarin as well. I have said what i wanted to say about this whole GIC temasek thing in many threads. 90% of which were started by you and I'm not about to contribute to another one.
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Originally posted by FireIce:
then how? then how??????
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Originally posted by kramnave:
I only asked you to go join youthquake. The topic is Singapore Transportation. You can go give them Ideas. You have a lot to say about ERP as well. If you don't understand I can Type in Mandarin as well. I have said what i wanted to say about this whole GIC temasek thing in many threads. 90% of which were started by you and I'm not about to contribute to another one.
Not to worry about this. If I feel I like to join, I will join. For now I feel I will just like to be a free agent or active citizen giving my two cents worth and pricking at some over-blown balloons about to burst.
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Originally posted by FireIce:
then how? then how??????
Then your retirement monies will be lost or withdrawl of retirement pay-out postponed to 100.
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Originally posted by robertteh:
Not to worry about this. If I feel I like to join, I will join. For now I feel I will just like to be a free agent or active citizen giving my two cents worth and pricking at some over-blown balloons about to burst.
he details of the YouthQuake Forum are as follows:
Date: 7th June 2008 (Saturday)
Time: 1400 hrs – 1600 hrs.
Venue: 216-G Syed Alwi Road #02-03
its a forum that wouldn't interfere with your status as a free agent.
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Originally posted by FireIce:
then how? then how??????
step 1: emigrate lor. can withdraw ur cpf immediately
step 2: enjoy
if cpf went bankrupt, you only got urself to blame for not following the above steps earlier.
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Originally posted by robertteh:
After repeatedly losing billions in bad deals like Micropolis, Shin Corp, Telcomsel, and lately UBS, Merryl Lynch, Barclay which are continuing more write-downs of asset values close to bankruptcy the citizens have lost confidence in our leaders in the quality of their decisions and management of GIC.
The government has no mandate to invest their monies in such loss-making investments.
Such investments are not authorized by the people so PM, MM, SM, ministers, and respective CEOs and professionals of GIC have to take care of people's monies and not lose any more of their monies.Those who fail to heed such trustees' fiduciary duty to exercise prudence and continue with such careless investments will have to be personally responsible for causing any further losses.
Problem here is, is it a net loss or profit we dunno, we the citizens are treated like kids... How to be held accountable if the people is not able to make a decision because there is no"report card"?
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They cannot even resolve the simple issue between the carbox and the cheat-card.
No one party is willing to conduct an thorough investigation to clear the matter for the poor soul that are being san-man.
Is it that difficult to take responsibilty for the matter ?
If they have no courage to take up responsibility for such a small matter, dun expect any one to be clear over such a big boo boo.
I expect the final verdict of the card and box issue to be due to the laziness of the drivers to report the matter at 1st time so the cheng hu can react in time to solve the issue.
So, the drivers are to be blamed for the honest mistake.