Dividends Wizard (17Oct2012) wrote:Re Thread: Bank failure in Singapore; the SDIC national solution?
what are you smoking ?
don't take so much drugs .
__________________
Sharing my Dividend Portfolio at :Dividends Wizard
I get S$1,000+/month in Dividends , so can You !
I think that bankers are the biggest drug addicts in this world and I think that PM Lee is actually planning to feed them with our national reserves! 'Regulating tightly 'not always feasible'' [ST, 08Oct2012][pict]
Speaking of drugs, I think that bankers are probably the most prolific consumers of drugs "Despite the volatile global economy, one business is booming in London's financial district -- cocaine dealers.... It is absolutely rife in the City," 'Finance Guy In London Explains How To Order Cocaine From A Restaurant' [BusinessInsider, 12Sept2011].
My point remains that the government should and MUST promulgate laws to protect the ordinary savings of the ordinary man (earning interest under 1%) from misuse by international banks which intermix retail bank deposits for (mis-)use in their investment arms on highly leveraged derivative products with the potential of high risks so that potential returns can be quickly distributed as bonuses for bankers, their directors and the rest shared as dividends amongst banking shareholders- where the consequence of the crisis such as Lehman in 2008 would leave governments with no choice but to bail out banks just so that the ordinary man can get his (misused) savings deposits back (thus averting a calamitous run on the bank).
PM Lee once defended Ministerial salary (tagged to that of bankers and other leaders in terms of salary) that that was a means towards the achievement of a "first class political leadership".
What really seems to me is that PM Lee is now sleeping with the enemy by putting no end to banker's prodigious greed and profligacy- not just giving them a free pass to intermix deposits amongst banking arms, to use as leverage, citizen's life savings held in low interest bearing retail banking savings deposit accounts to stake gambles in high risk trading markets; but also prostituting the reserves of Singapore as a bailout insurance to further fund banker's prodigious greed and lifestyle of sin.
By not segregating the operations of retail arms from the investment arms of international banks, the Singapore government is certainly permitting it's reserves to be held hostage by banks into funding the gambles of investment bankers, whose stratospheric salaries and bonuses, the salaries of Ministers in Singapore are pegged closely to.
This really makes me wonder if the tagging of the Ministerial salary to that of bankers were in the first place just one big conspiracy towards high salary and profligacy.
If the operations, assets and investments of retail banks in the US had in the first place been tightly regulated, segregated and not allowed intermixing/ free transfer into the hands of investment bankers, retail banks wouldn't have gone belly up; the savings of the ordinary American would have remained safe- there would then have been no urgency whatsoever for the bank bailouts of 2008-9 that cost the US tax payer USD4.76Trillion (high water mark at USD13.87Trillion) and thus minus the risk of hyperinflation in supply of USD and its devastating effects around the world.
The government of Singapore, like the SECthat kept its eyes wide shut pre Lehman crisis, is accomplice to banker's prodigious greed.
=============
At:
17Oct2012: Bank failure in Singapore; SDIC= national solution?
No comments:
Post a Comment