Talent Capital Singapore - Sekhar Sinha?

[scroobal]

I don't we are. Money elites behave in an identical manner all over the world. They will sink roots politically in their own country whilst hosting thanksgiving in Maine and the summer party in their second home in Monaco.

After the last elections and over the 15 years, the elites in Singapore have began to abandon politics and those in entrenched Politics are no longer have their sons and daughters in politics.

This first came up for discussion as an side issue in a closed door discussion on a different matter at Tanglin. Suddenly it dawned us that there is indeed a flight from politics by the various scions. The last one is actually Teo Chee Hean. As you know much of the OCBC clan is in Canada and the UK.

This has nothing with elites from other countries. Show me one country in the developed world where elites are no longer interested in politics. Note the ex CEOs of Ebay and HP. They are all going into politics.

Even a basket case like Nigeria have families still entrenched in Politics.

Dear Scroobal

I do wonder whether we are seeing the same problem but from differing ends. Firstly the moneyed elite , the wealthy will have the ability by definition to live anywhere else but in Singapore.


Locke

 

[manokie]

Actually the PAP and the Elite are 2 separate and distinct group though overlaps are there. Its a case of the kids from the PAP old guard that crossed over to the elites. During the first 20 to 30 years, the PAP ethos was completely around Singapore but very authoritarian in nature and style. No one from PAP ever contemplated migration or working overseas at all. It was also ruthlessly marshalled by the old man and the old guard including Raja.

I remember when the former Perm Sec Kwa whose sister was old man's wife wanted to send his son overseas when he was having difficulty with Mandarin, his sister stopped him. He was very bitter about it. He saw no reason why his son had to be tied to the PAP.

The first to break this was not from the PAP per se but it was group that the PAP considered politically important and were looked after - the teachers. Typically if both parents were teachers, their pay provided good income. Their kids naturally were better educated and tend to be more articulate. They began to migrate and they were bond breakers that the Govt complained about.

Then the dam broke with Yeo Cheow Tong and his wife and family. The country is now a business, a networking and money laundering hub and the beneficiaries are the elites. The PAP is there only in name and it is made up of gullible idiots like Sekhar Singa and uncles and aunties living in HDB flats.

Good Analysis

Without eggs, there won't be chickens and vice versa. This is a nefarious relationship between 2 groups of greedy fuckers.

Singapore is turning into a oligarchy.

Oligarchy:
a form of government in which all power is vested in a few persons or in a dominant class or clique; government by the few.

The only solution to this will appear when LKY dies. All the cheebye yes-men will come out of their rat holes and fight for power amongst themselves. SIA union and Law Society will definitely show some defiance. Expect to see a shuffle in power.

 

[scroobal]

Actually bro, you are not off topic but you got the wrong end of the stick. Political dynasties all over the world just like the rockerfellers do ensure consolidation of power.

Both Locke and you got the wrong end.

What you see is not consolidation of political power. Nobody is interested which is disturbing as it indicates that we are dealing with a sinking ship in terms of a country and a sovereign nation.

I am told that no one of the siblings of any of the cabinet members are interested. Not so for any other elite from any other country. Obviously the notion of avoiding nepotism is not true as Ho Ching grip on Temasek is obvious.

My apologies for being off topic.

 

[scroobal]

Spot on. That is what some of us are thinking. A cartel is at work or is froming. The kids are not in politics but they are holding positions in GLCs here and overseas. Temasek alone commands 65% of the stock exchange in terms of market capitalisation.

Singapore is turning into a oligarchy.

 

[jw5]

What amazes me is how many people don't have the ability (or is it willingness) to understand the concept of "independence in appearance".
It's just like if Bill Clinton had appointed Hilary as his secretary of state or his treasury secretary when he was president. 99% of Americans probably would not deny that she had the ability to do either job. It was just not appropriate to do so, and it didn't matter if it was approved by congress or 100% of republican senators or 80% of the american population or if George Bush Snr had given the go ahead.
The true test was that Hilary did become secretary of state when Obama became president, by which time Bill would be flying all over the world giving motivational speeches, saving americans from the clutches of "evil" countries and watching the world cup with Mick Jagger.

Anyway all these and more probably wouldn't matter if we ageing fogeys don't have descendents or plan to migrate permanently. Perhaps it's time to sit back and just watch for entertainment, while cheering silently for GMS and KJ. Elite or not, doesn't really matter. We will all have to die someday, it's just that those who feel guilty about what they have done will have to spend time on "karma retrieval".

 

[kingrant]

Scro,

Politics - the sincere type - is hard work and smart ones know better. Why work yr ass off and citizens may not even be grateful when you can milk the cow in other ways while some donkeys can do the work?

During our time, it used to be said that while old RI boys may rule the country, old ACS boys are the smarter ones who make more money .

Guess what's developing now is a case of getting rich whilst the connections to the corridors of power are still intact, and milking the cow dry, from within if possible , and from far away if not possible.

Sinkies are still clueless about this general state of malaise. The next non-PAP govt will have a lot of work to do to clean up the mess, and I suppose it will not be a pretty sight when the elites are forced out after a scorched earth rampage.

Spot on. That is what some of us are thinking. A cartel is at work or is froming. The kids are not in politics but they are holding positions in GLCs here and overseas. Temasek alone commands 65% of the stock exchange in terms of market capitalisation.

 

[scroobal]

Except for the declaration of assets by MPs to GCK, there is no control or accountability. There is no mechanism to stop the abuse. The CPIB is hopeless and they spend more time with China mei meis on false marriages.

They obviously don't raid the coffers but the abuse of position is an issue.

Sinkies are still clueless about this general state of malaise. The next non-PAP govt will have a lot of work to do to clean up the mess, and I suppose it will not be a pretty sight when the elites are forced out after a scorched earth rampage.

 

[kingrant]

I see yr point. They have to be surgically removed like so many cancerous lymph nodes.

They obviously don't raid the coffers but the abuse of position is an issue.

 

[scroobal]

Take this classic case. Hsieh Fu Hua, the ex-CEO of SGX. This guy was founder of Prime Partners whose consultancy provided listing advice and takes fees for recommending listing in foreign bourse. This is like the founder of MAS and its largest stakeholder offered the position of CEO SIA.

It took more than a year before someone realised that he was in clear conflict of interest. We ended up with rubbish listings from China. When found out, he then put his stake in Prime Partners in trust which should have been done in the first place.

Instead he was rewarded with a position with Temasek Board on 1st Feb.

I see yr point. They have to be surgically removed like so many cancerous lymph nodes.