Friday, March 22, 2013

The Exposé On Foreign Talent

"We have the advantage of quality control of the people who come in," boasted Lee Kuan Yew. "So we have bright Indians, bright Chinese, bright Caucasians..."

Former UBS Executive Director Juerg Buergin must be one of those foreign talent Caucasians who measured up to Lee's stringent quality controls. The Swiss national, 41, married with two kids, stood out because, according to his underaged plaything, he paid up-front with cash inserted in hotel envelopes, and booked only expensive hotel rooms like those of Shangri-La and Mandarin Oriental. And oh, she had to use a certain quality of prophylactic. That's real talent at play here.

Actually we'll rather hear more from former US Federal Reserve Chairman Paul Volcker, who was sharing the same stage as the spin master. His name is used for a specific section of the Dodd–Frank Wall Street Reform and Consumer Protection Act to restrict United States banks from making certain kinds of speculative investments that do not benefit their customers.

The Volcker Rule bans proprietary trading, risky securities bets that banks place for their own accounts, rather than for their clients. It's designed to ensure the government perks that banks enjoy (borrowing money at low rates from the Federal Reserve, guaranteeing their depositors against losses) do not subsidize risky speculation. We should have a variant of that to prevent our Town Councils from investing our money in toxic instruments.

On the other hand, quality control measures for financial institutions may not be apposite discourse for the gathering of Singapore bankers. Not when the Malaysian Anti-Corruption Commission (MACC) has started investigation of Sarawak Chief Minister Tan Sri Taib Mamud over claims of corruption in the timber trade. Claims which surfaced from the Global Witness film "Inside Malaysia's Shadow State". Film which features quotes like ""Singapore has a China Wall... They will not tell them, the Malaysian government, nothing..." That was Alvin Chong Chee Vun of Alvin Chong & Partners, Kuching, sharing his "trade secret" about the offshore jurisdiction mechanism in Singapore, which he said would not comply with requests from Malaysian authorities for information about such agreements.

So many talents, so little space. Too bad we only have 710 sq km to squeeze them all in.

36 comments:

  1. The snake oil salesman at work. Facts do not matter in their sales pitch. Indeed facts would expose the fraud. So why was he not confronted with his "two is enough policy"? Is he serious that Japan will disappear into nothingness?

    ReplyDelete
    Replies
    1. I think he himself will disappear into nothingness earlier...

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    2. I'm curious if his grandchildren will return to Singapore after graduation...

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    3. Not to worry! Japan will outlast him and even his children and grandchildren's children.

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    4. Japan has a very strong culture and bondage. It is the people that help Japan to survive through the time. Just take at look at Japanese people who live in earthquake-prone of Japan and refuse to migrate to other countries despite constant threat of earthquake because they love Japan, and nothing can separate their love. Contrast these with money-sucker government of SinCity.

      Delete
  2. The distance between the ground is so great that he can be in company only with celestial beings. No one on earth understands him anymore.

    Goodbye, you are no longer relevant to the people except your family. Please fade away... quickly.

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  3. Hahahaha...SLAP !

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  4. The guy in the center seems bored and restless listening to our emperor..............

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  5. just watched the video this is fascinating stuff.............whats else is under the carpets here is our banks..............

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  6. We would appreciate a little bit of competition in the public sector as well. Open up the pubic sector to foreign competition as see what those iron rice bowl fellas think about. Maybe the cabinet and the NS obligations can be be considered too. Think out of the box and not just spew rubbish, ignore unfair competition in private sector and have an iron rice bowl mentality for the civil service.

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  7. As the talents grow, so do the sinkholes.

    If Mr LKY is so good at foretelling fortune, he must know that his time is up by this year. That surely he must care for his famous last words.

    The great Way is easy,
    yet people prefer the side paths.
    Be aware when things are out of balance.
    Stay centered within the Tao.

    When rich speculators prosper
    While farmers lose their land;
    when government officials spend money
    on weapons instead of cures;
    when the upper class is extravagant and irresponsible
    while the poor have nowhere to turn-
    all this is robbery and chaos.
    It is not in keeping with the Tao.

    ReplyDelete
  8. Wearing that Fu Manchu costume makes Old Fart look like in a school play and reciting rubbish script written by a bunch of 15-yr old kids for their school assignment.

    ReplyDelete
    Replies
    1. That fu manchu outfit is meant to make his grandfather's story more credible even when it is incredible.

      But, judging from all the comments, he failed miserably.

      Delete
  9. "So we have bright Indians, bright Chinese, bright Caucasians..."

    Indians so bright that they hire themselves and replace our Singaporean core workforce.

    Chinese so bright that they go on strike and create havoc for our Singaporean public and private transport operators.

    Caucasians so bright that they bring down Barings Bank, have scandal with underage prostitute, and run away from the laws of Singapore.

    What do you think?

    ReplyDelete
    Replies
    1. we have to admit ... okay; speaking for myself;

      the examples you quoted truly demostrated that foreigners are really more talented than native borned singaporean in all departments

      lee kuan yew is speaking the truth;
      "daft singaporean" wrt to native born

      Delete
  10. Birds of a feather chirp together!

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  11. LKY still desperately holding on to his fast depleting glory from his old days.

    His slurred speech and idiotic baseless proclamations are nothing more than a clown show put forward by people to display has a 'bas been' he is.

    The old fool doesn't know when to quit when the going was still good.

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  12. Today Singapore have much more money to finance it home grown SME to expand oversea, rather then depend on cheap foreign workers foreign multi national companies, who might threaten to leave if they don't have access to cheap foreign workers, Singapore can't depend on them they might leave any time to a cheaper country, Singapore have $260 billions of reserves, casinos revenues, Rental, Sales of properties, COE, GST, ERP, Levies and the locked up CPF reserves etc. to buffer any lost of foreign companies who left because of cheap workers, Singapore can massively fund the grow of home grown companies with this huge reserves and revenues?

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  13. Dirty secrets of money laundering enjoying official support is going viral, but you won't read much anywhere in the propaganda, and not even in Malaysia or indonesia certainly not China and India. Why? because the greatest launderers are the politicians of the same countries. But fret not, unca sam and european tax inspectors will be forced by their own rioting people to come confiscating. It is pointless to deny any more, a rat hole this has become thanks to old farts underlings.

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  14. Without the votes of the people, can their claws extend so deep?

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  15. With him & his son in charge for the last few decades, are the majority of us any much better than that of the Japanese especially when he had the cow sense to say that Japan will disappear into nothingness?

    For heavens sake, why does he still think that his past expiry date type of opinion is still relevant when the typical Singaporen's quality of life is really no much better than that of the Japanese?

    If want to bluff us, at least use some facts to back up first mah. Otherwise you are no better than the one which you once accused of being a recalcitrant liar!

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  16. Wither Singaporeans3/22/2013 5:45 PM

    China has a 5000 years of proud culture.
    Japan has a 2000 years of culture.
    Singapore has what? 50 years of modern his-story but no culture (not my words but from our President and Leeders)

    So let's get a grip, and get a perspective shall we?

    Who is little red dot mouse to tell the big brother elephant that if Japan does not follow his leegime, that their country will go extinct? Is this all very laughable or what.

    By 2030/2050, anyone who knows about China one child policy will know that it will also face a dwindling greying population and severe brain drain. At the rate that Singapore is so eager to absorb this large group of "talents" and turn them into citizens, is a no brainer that by such time, Singapore will face a reversal of emigration as China will become an attractive destination for this group of singaporeans to return.

    How/where does that feature in your future text book, PAP?

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  17. Money laundering is supposed to be illegal in Singapore, so how did they still manage to do it supposedly with the protection of our secrecy laws?

    Does it mean that the sexual corruption cases involving the 2 Red Indian Chiefs are for 'show' only to tell the whole world we mean business?

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  18. Yet, despite all the power, stature,influence and money he still needs an audience.

    I promise you this:
    Deny him an audience and there will be nothingness.

    ReplyDelete
  19. Something wrong keep increasing the populations, from 2 millions to 5.3 millions, to 6.9 millions, then to 10 millions?

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  20. Is he drunk? He's slurring like a sailor on shore leave and is barely sensible. Give up, old man.. give that gigantic ego inflated by 40 years of surrounding yourself with yes men a rest and learn to let go.

    ReplyDelete
    Replies
    1. How can he let go? Even Low Thia Khiang knows that he is 'unable to put down' because of his dragon prince son. Die die must hold his hand or an internal rebellion within PAP will arise. So, even on a stretcher, he must be visisble once in a while.

      Delete
  21. "You have sat too long for any good you have been doing lately... Depart, I say; and let us have done with you. In the name of God, go!"

    ReplyDelete
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