<TABLE id=msgUN cellSpacing=3 cellPadding=0 width="100%" border=0><TBODY><TR><TD id=msgUNsubj vAlign=top>
Coffeeshop Chit Chat - Ah Goh: MAS working behind the scene woh</TD><TD id=msgunetc noWrap align=right>
Subscribe </TD></TR></TBODY></TABLE><TABLE class=msgtable cellSpacing=0 cellPadding=0 width="96%"><TBODY><TR><TD class=msg vAlign=top><TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"> </TD><TD><TABLE cellSpacing=0 cellPadding=0 border=0><TBODY><TR class=msghead><TD class=msgF noWrap align=right width="1%">From: </TD><TD class=msgFname noWrap width="68%">kojakbt22 <NOBR>
</NOBR> </TD><TD class=msgDate noWrap align=right width="30%">10:28 am </TD></TR><TR class=msghead><TD class=msgT noWrap align=right width="1%" height=20>To: </TD><TD class=msgTname noWrap width="68%">ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right> (1 of 3) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft width="1%" rowSpan=4> </TD><TD class=wintiny noWrap align=right>1437.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>Govt looking at helping Singaporeans overcome economic hardship
By Pearl Forss, Channel NewsAsia | Posted: 18 October 2008 2149 hrs
http://www.channelnewsasia.com/stories/singaporelocalnews/view/383781/1/.html
SINGAPORE: Senior Minister Goh Chok Tong said the government is looking at how it can help Singaporeans overcome temporary economic hardship next year.
Mr Goh, who was speaking at a community event on Saturday, said Singapore's economy is expected to grow by about 3 per cent this year, but next year's growth could be even slower.
But the senior minister believes that with Singapore's current diversified economy and strong economic fundamentals, the country can bounce back if Singaporeans stick together.
"The government is already thinking about what it can do to help businesses and ordinary Singaporeans – in particular lower income Singaporeans – next year," he said.
On financial products that are linked to failed investment bank, Lehman Brothers, Mr Goh said the Monetary Authority of Singapore (MAS) expects financial institutions to pay attention to vulnerable investors such as retirees.
Where there are sufficient indications that the product was mis-sold, the senior minister expects the financial institutions to take full responsibility and reach a fair settlement with investors, on a case-by-case basis.
Mr Goh said: "MAS understands from the banks and financial institutions that they will try to be helpful, so they will investigate each case thoroughly and where there is any doubt, they will try and settle in favour of the investor.
"MAS is a very professional, rational institution. It doesn't try to put pressure on people, it doesn't make big speeches to convince people that it is doing many things. Behind the scene, I can tell you, MAS has been quietly working with the banks and financial institutions to find a fair solution for people who have invested in the products."
The senior minister said everyone must view the losses in perspective – millions have lost their savings worldwide, so Singaporeans must be realistic in their expectations.
[email protected]
</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE>
=> Why didn't the Papayas view themselves in perspective when they ask for more pay that that of leaders of all OECD countries combined?
By Pearl Forss, Channel NewsAsia | Posted: 18 October 2008 2149 hrs
http://www.channelnewsasia.com/stories/singaporelocalnews/view/383781/1/.html
SINGAPORE: Senior Minister Goh Chok Tong said the government is looking at how it can help Singaporeans overcome temporary economic hardship next year.
Mr Goh, who was speaking at a community event on Saturday, said Singapore's economy is expected to grow by about 3 per cent this year, but next year's growth could be even slower.
But the senior minister believes that with Singapore's current diversified economy and strong economic fundamentals, the country can bounce back if Singaporeans stick together.
"The government is already thinking about what it can do to help businesses and ordinary Singaporeans – in particular lower income Singaporeans – next year," he said.
On financial products that are linked to failed investment bank, Lehman Brothers, Mr Goh said the Monetary Authority of Singapore (MAS) expects financial institutions to pay attention to vulnerable investors such as retirees.
Where there are sufficient indications that the product was mis-sold, the senior minister expects the financial institutions to take full responsibility and reach a fair settlement with investors, on a case-by-case basis.
Mr Goh said: "MAS understands from the banks and financial institutions that they will try to be helpful, so they will investigate each case thoroughly and where there is any doubt, they will try and settle in favour of the investor.
"MAS is a very professional, rational institution. It doesn't try to put pressure on people, it doesn't make big speeches to convince people that it is doing many things. Behind the scene, I can tell you, MAS has been quietly working with the banks and financial institutions to find a fair solution for people who have invested in the products."
The senior minister said everyone must view the losses in perspective – millions have lost their savings worldwide, so Singaporeans must be realistic in their expectations.
[email protected]
</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE>
=> Why didn't the Papayas view themselves in perspective when they ask for more pay that that of leaders of all OECD countries combined?
