Here is the final report of my 6 day detox programme. Several of my blog readers and friends have decided to try the programme. I will ask for their assessment and post them here.
Friday, July 17, 2009
TODAY: On the issue of responsibility
MAS was asked about its accountability in the minibonds saga at the press conference:
About the Lehman saga, there were some comments that MAS sort of allowed such instruments to be marketed to consumers. Do you think MAS should take some responsibility?
Mr Heng Swee Keat, managing director of MAS, replied: “I have highlighted a number of things that MAS has been doing in terms of regulation and the supervision of financial institutions (FIs).
“And if you go through the investigation report which has been issued, you will notice that there is a fairly detailed report that goes into the operation of the FIs, and quite a lot of those are operational lapses.
“I emphasised in my remarks that those are the actions that we expect board and senior management of FIs to take, to ensure that guidelines and standards are complied with.”
Would it be fair to say that MAS has no responsibility for the crisis?
Mr Shane Tregillis, MAS deputy managing director of market conduct, said: “We outlined the steps that we took before. In terms of setting the rules, in terms of inspecting, you can clearly outline what we have done since the problems emerged.”
About the Lehman saga, there were some comments that MAS sort of allowed such instruments to be marketed to consumers. Do you think MAS should take some responsibility?
Mr Heng Swee Keat, managing director of MAS, replied: “I have highlighted a number of things that MAS has been doing in terms of regulation and the supervision of financial institutions (FIs).
“And if you go through the investigation report which has been issued, you will notice that there is a fairly detailed report that goes into the operation of the FIs, and quite a lot of those are operational lapses.
“I emphasised in my remarks that those are the actions that we expect board and senior management of FIs to take, to ensure that guidelines and standards are complied with.”
Would it be fair to say that MAS has no responsibility for the crisis?
Mr Shane Tregillis, MAS deputy managing director of market conduct, said: “We outlined the steps that we took before. In terms of setting the rules, in terms of inspecting, you can clearly outline what we have done since the problems emerged.”
Thursday, July 16, 2009
MySudoku Contest 17 July
Try the MySudoku contest in My Paper (Wo Bao) today. It appears on Fridays. Rules of the contest can be found here: http://www.tankinlian.com/mysudoku/
The prize is TKL Sudoku Vol 1. This book of challenging puzzles can be bought at: http://www.easyapps.sg/iShop/public/common/Home.aspx
Petition to Prime Minister (2)
Read this online petition to the Prime Minister of Singapore. It ask the Prime Minister to get the Monetary Authority of Singapore and/or other relevent body to get the financial institutions to offer compensation similar to what is being offered in Hong Kong.
If you agree with the Petition, please sign it and encourage other investors (who have not been compensated) to join in.
The working committee agreed to lodge the Petition is there are at least 300 signatures. If there is insufficient signatures, we will not lodge the Petition.
If you agree with the Petition, please sign it and encourage other investors (who have not been compensated) to join in.
The working committee agreed to lodge the Petition is there are at least 300 signatures. If there is insufficient signatures, we will not lodge the Petition.
This Petition is dated 29 August 2009. We will get additional signatures from investors who attend the gathering on 22 August, especially those who are not able to use the internet.
Wednesday, July 15, 2009
Shape Quiz book is now ready
The long awaited shape quiz books is now ready. It is quite attractive. Available for only $7.90 here.
Here are two Youtube videos on how 6 year old Cheyenne solve the shape quiz. The quiz is suitable for children, adults and seniors. It is challenging and fun. You can also organise a competition for a group of friends, to see who can get the shape first.
6 day detox programme (2)
I have now completed 5 days out of the 6 day detox programme. The results have been satisfactory. Read my experience here.
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