Reposted from sgfuck
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This is very interesting, i saw on another forum, the poster writes as below
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The people working in TH should be smacked in the face as they are remarkably stupid.
You CPF funds is borrowed to MAS which then sends it to GIC/Temasek
So when they increase the minimum sum or delay the payment of your CPF (by changing the original rules), its called a Technical Default
They think the rating agencies will never see through the smoke screen, once S&P downgrades the rest will follow
Source: http://forums.fuckwarezone.com.sg/e...-temasek-may-lose-aaa-status-s-p-4961954.html
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I think i starting to understand why S&P want to dowgrade Temasek, the reasoning is that by delaying the original promise to withdraw the CPF at 55 yrs old is considered a default on the promises of the country, hence the downgrade.
Anyone got thoughts on this issue??
******************
This is very interesting, i saw on another forum, the poster writes as below
---------------------------------------------------------------
The people working in TH should be smacked in the face as they are remarkably stupid.
You CPF funds is borrowed to MAS which then sends it to GIC/Temasek
So when they increase the minimum sum or delay the payment of your CPF (by changing the original rules), its called a Technical Default
They think the rating agencies will never see through the smoke screen, once S&P downgrades the rest will follow
Source: http://forums.fuckwarezone.com.sg/e...-temasek-may-lose-aaa-status-s-p-4961954.html
-------------------------------------------------------------------------
I think i starting to understand why S&P want to dowgrade Temasek, the reasoning is that by delaying the original promise to withdraw the CPF at 55 yrs old is considered a default on the promises of the country, hence the downgrade.
Anyone got thoughts on this issue??
