IMF pledge 'did not violate Constitution' - MAS

[Confuseous]

Article 144 does not cover the loan commitment by the MAS. However, the Managing Director of the MAS is required by Article 22B(6) of the Constitution of Singapore to inform the President of any proposed transaction which is likely to result in a draw on its past reserves. If MAS had any reason to believe that the loan commitment to the IMF will result in a draw on past reserves, it would have been obliged to report this to the President. It had no reason to do so as the potential loan to the IMF would have carried low credit risk. (Hmm, the Police anti-crime message was LOW CRIME DOES NOT MEAN NO CRIME...)

- http://www.todayonline.com/Singapore/EDC120707-0000033/IMF-pledge-did-not-violate-Constitution

 

[cunnilaubu]

Why is MAS replying only after KJ had sought the Courts' intervention?
This is similar to the PM's calling the by-election after the Hougang auntie challenged him in Court.

Does it mean that ordinary citizen had to resort to legal action before the government is willing to respond?

 

[sawadeecup]

ILet us hope it wasn't our favourite Auntie HC who decided IMF contribution was low risk.

How can they suka suka just give out billions of taxpayers like date to some foreign organisations without parliamentary approvals?

Have they no accountability to its citizens? Or they think Parliament is only interested in discussing about city harvest church and the alleged sgp politician involvement in Malaysian politics?

 

[god_zeus]

Why is MAS replying only after KJ had sought the Courts' intervention?
This is similar to the PM's calling the by-election after the Hougang auntie challenged him in Court.

Does it mean that ordinary citizen had to resort to legal action before the government is willing to respond?

can we legally void lee sian loong as pm?
he was NEVER elected as PM but his daddy put him there
and his term as PM dont seem to have a term ending
that mean she can suka suka stay as PM as he like
and will only resign if he drop dead

 

[Boliao]

Article 144 does not cover the loan commitment by the MAS. However, the Managing Director of the MAS is required by Article 22B(6) of the Constitution of Singapore to inform the President of any proposed transaction which is likely to result in a draw on its past reserves. If MAS had any reason to believe that the loan commitment to the IMF will result in a draw on past reserves, it would have been obliged to report this to the President. It had no reason to do so as the potential loan to the IMF would have carried low credit risk.
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How come Tharman did not tell IMF that welfare is very dangerous and slippery road? Instead, promise $5b of Singaporean's money to help Europe? Them coming to steal our jobs not enough, still got to take care of their father, mother, sister, brother, uncle, auntie, sister-in-law, etc etc??!!

PAP, why not use the $5b to set up a welfare fund for aged Singaporeans, orphans and handicaps?

Singaporean first my ass. Pinky only makes empty promises and then turn around to screw Singaporeans over and over again.

 

[Orion]

It is funny coming from the MAS which is led by GCT which once said Singapore will not pledge any money as money is a high risk thing. And even if they "donate", it will be only 50k. Now it is 5Billion....5000 millions.....

 

[Fook Seng]

I remember the saying, "Two wrongs do not make one right." Similarly, several wrongs do not make one right either.

 

[steffychun]

I repeat, no other non-parliamentarian of the other democracies and non-democracies bothered to do such a thing like KJ. What's his problem?

 

[makapaaa]

PAP, why not use the $5b to set up a welfare fund for aged Singaporeans, orphans and handicaps?

=> This will need to be debated in the Parleement. When it comes to giving out a few shillings to the peasants, the FAP will make sure that it must be as difficult as reaching for the moon.

 

[steffychun]

PAP, why not use the $5b to set up a welfare fund for aged Singaporeans, orphans and handicaps?

=> This will need to be debated in the Parleement. When it comes to giving out a few shillings to the peasants, the FAP will make sure that it must be as difficult as reaching for the moon.

That is insular thinking. Global events needs action by all states. Singapore was NOT the only pledging country. Money has not been disbursed.

http://www.imf.org/external/np/sec/pr/2012/pr12146.htm

 

[bryanlim1972]

That is insular thinking. Global events needs action by all states. Singapore was NOT the only pledging country. Money has not been disbursed.

http://www.imf.org/external/np/sec/pr/2012/pr12146.htm

this unilateral action by the PAP without consulting parliament is akin to treating singapore like a banana republic headed by a dictator who acts at his own whims and fancies.

and all the money in the world is not going to save europe. only germany can save europe.

go get an education first steffy.

 

[Cerebral]

I repeat, no other non-parliamentarian of the other democracies and non-democracies bothered to do such a thing like KJ. What's his problem?

You always seems to speak for PAP blindly. 5B is a lot of money and it should have a palimentary debate on that matter. The money is not MAS to give. Its the people's money, not some prive coffers.

 

[Narong Wongwan]

Please dun kpkb.
60.1% wrote a blank cheque to them on our behalf.
So please go to one corner to suck thumb because there is fucking nothing you can do about it.

 

[halsey02]

ILet us hope it wasn't our favourite Auntie HC who decided IMF contribution was low risk.

How can they suka suka just give out billions of taxpayers like date to some foreign organisations without parliamentary approvals?

Have they no accountability to its citizens? Or they think Parliament is only interested in discussing about city harvest church and the alleged sgp politician involvement in Malaysian politics?

Which venerable sage said, what they do for your own good, is not for you, to ask & know?, we have already 'donated' our CPF savings, that is the best, biggest CHARITY in SINgapore.

 

[Narong Wongwan]

Which venerable sage said, what they do for your own good, is not for you, to ask & know?, we have already 'donated' our CPF savings, that is the best, biggest CHARITY in SINgapore.

It's not for us to know or ask because 60.1% of your fellow sinkies gave up that right.

 

[Fook Seng]

I repeat, no other non-parliamentarian of the other democracies and non-democracies bothered to do such a thing like KJ. What's his problem?

Tell me the PMs or the Presidents in those European countries who do not need approval from their parliament to send rescue packages to Greece and Spain?

 

[tanakow]

I repeat, no other non-parliamentarian of the other democracies and non-democracies bothered to do such a thing like KJ. What's his problem?

You should ask what is the problem with the others?

 

[chonburifc]

This confirm one thing. KFC Phoney Tan is a puppet.

 

[Liquigas]

This confirm one thing. KFC Phoney Tan is a puppet.

Yes, we have an EP who is the custodian of our national reserves, gatekeeper and holder of the second key so how can MAS bypass him by disbursing a loan of this magnitude without his prior approval. TT is not a ceremonial figure at the Istana and he has real fiduciary duty to discharge.