The Leegime is Very Afraid of TKL...

[makapaaa]

http://tankinlian.blogspot.com/2011/07/mas-records-net-loss-of-109-billion.html


Saturday, July 23, 2011
MAS records net loss of $10.9 billion

This report said that MAS recorded a net loss of $10.9 billion due to the strong Singapore dollar. We need to study if this is only part of the truth or the whole truth. How much of the loss is attributable to the strong Singapore dollar? How much of the loss is caused by excessive speculation or trading (if any)? .

It is important for the President to ask these questions, get the answers from MAS and be able to interpret these answers. This will improve accountability and engender trust in our institutions. In an earlier statement, I said that our reserves should be invested prudently, to achieve a reasonable return over the long term and avoid speculation.

 

[makapaaa]

<TABLE class=forumline border=0 cellSpacing=1 cellPadding=3 width="100%"><TBODY><TR><TD class=row1 vAlign=top width=150 align=left>PinkTiger



Joined: 26 Aug 2008
Posts: 565

</TD><TD class=row1 height=28 vAlign=top width="100%"><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR><TD width="100%">Posted: Sat Jul 23, 2011 3:45 pm Post subject: </TD><TD vAlign=top noWrap> </TD></TR><TR><TD colSpan=2><HR></TD></TR><TR><TD colSpan=2>I like this commnet:

"Now we know why Govt has to transfer out Heng Swee Kiat, the former MD of MAS, and to compensate this incompetent man, Govt took all precautions to ease him into Parliament through the backdoor, and ensure all the dirt would be made known to the public ONLY after the GE. Sneaky move. Now Heng could be spared the embarrasment to face up to his incompetent tenor at MAS.
No good with managing Public Finance, think it's better he sticks with Education.
Any Tom, Dick or Harry could conveniently point fingers at the currency game.
A lousy Regulator is a lousy Regulator, no need to hide behind convenient excuses. MAS is being played out by Foreign Advisors on the Board, all those Goldman Sachs,etc., who are actually asset gamblers.
Nowadays when Govt Agencies lose the country's money, they lose big.
Shame on them."</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE>

 

[Eugenics]

A lousy Regulator is a lousy Regulator, no need to hide behind
convenient excuses. MAS is being played out by Foreign Advisors
on the Board, all those Goldman Sachs,etc., who are actually
asset gamblers. Nowadays when Govt Agencies lose the country's
money, they lose big.

By allowing foreign outflows of funds and monetary is akin to
having the F1 and Youth Olympic Games . It's a giveaway .
Part of the attraction to draw talents .

When GICs and GOVt asset backed funds are in the red .
They can always compensate and tweak it .