Tony Tan: US Govt Should Pay Exorbitantly High Salaries Like Spore

[sgnewsalte]

In Davos, Tony Tan expresses his view that US regulators' failure to sniff out fraud is due to their low salary. He suggested this solution - that US should emulate Spore by paying govt officials exorbitant salaries. Isn't it greed that got the US into this situation in the first place? If paying regulators sky high salaries is the solution, then why did MAS neglect to prevent toxic structured financial products from being mis-sold in Spore, resulting in thousands of retirees losing their life savings?


http://www.nytimes.com/2009/02/03/business/03sorkin.html?_r=1
Tony Tan: US Should Pay Their Regulators More

The New York Times, 2 Feb 2009, ANDREW ROSS SORKIN
What if Watchdogs Got Bonuses?

" Tony Tan Keng Yam, deputy chairman and executive director of the Government of Singapore Investment Corporation, suggested that one reason American regulators fell down on the job was that they were paid too little.

“You must have as good people working in the government in the regulatory authorities as those that are working in the private sector,” Mr. Tan said. “You do need, particularly in these very difficult times, capable people in central banks, in government, in the Treasury who can effectively supervise.”

Mr. Tan knows about this firsthand. He is a former regulator himself, and Singapore has a different view about compensation.

“We pay our politicians and our government servants very well,” he said. “We lock remuneration to the market.”

While Singapore’s watchdogs aren’t paid enough to afford private planes, some in top positions make seven-figure salaries."

 

[The_Latest_H]

In Davos, Tony Tan expresses his view that US regulators' failure to sniff out fraud is due to their low salary. He suggested this solution - that US should emulate Spore by paying govt officials exorbitant salaries. Isn't it greed that got the US into this situation in the first place? If paying regulators sky high salaries is the solution, then why did MAS neglect to prevent toxic structured financial products from being mis-sold in Spore, resulting in thousands of retirees losing their life savings?


http://www.nytimes.com/2009/02/03/business/03sorkin.html?_r=1
Tony Tan: US Should Pay Their Regulators More

The New York Times, 2 Feb 2009, ANDREW ROSS SORKIN
What if Watchdogs Got Bonuses?

" Tony Tan Keng Yam, deputy chairman and executive director of the Government of Singapore Investment Corporation, suggested that one reason American regulators fell down on the job was that they were paid too little.

“You must have as good people working in the government in the regulatory authorities as those that are working in the private sector,” Mr. Tan said. “You do need, particularly in these very difficult times, capable people in central banks, in government, in the Treasury who can effectively supervise.”

Mr. Tan knows about this firsthand. He is a former regulator himself, and Singapore has a different view about compensation.

“We pay our politicians and our government servants very well,” he said. “We lock remuneration to the market.”

While Singapore’s watchdogs aren’t paid enough to afford private planes, some in top positions make seven-figure salaries."

The problem isn't about regulators not being paid enough; the problem is that these regulators were non-existent or prevented from doing their jobs; the rating agencies were in league with these CEOs of investment banks and insurance companies.

Tony Tan is having a bloody joke. He damn well should know that SEC under Bush weren't doing their job because of ideology- so whatever Citigroup did, or what Madoff did, SEC simply turned a blind eye or even encouraged them further.

 

[Lestat]

I would like to see what is Obama's rebuttal to Tony Tan's comments.

It's going to be goooooood

 

[Einfield]

Tony Tan is not qualified to speak on this topic because he is a benefactor of this system of greed and legal corruption.

Therefore there's a big conflict of interest, please STFU.

 

[VIBGYOR]

In Davos, Tony Tan expresses his view that US regulators' failure to sniff out fraud is due to their low salary. He suggested this solution - that US should emulate Spore by paying govt officials exorbitant salaries. Isn't it greed that got the US into this situation in the first place? If paying regulators sky high salaries is the solution, then why did MAS neglect to prevent toxic structured financial products from being mis-sold in Spore, resulting in thousands of retirees losing their life savings?

SGP regulators good meh? I am laughing...LOL...

It's is because balless sinkies scared to protest, that's why you are getting so much salary.

Do it in America, you sure kena shot...LOL..

OMG! What kind of moral values we are preaching, because people are greedy, we have to satisfy their greed.

So next time a bank robber come to your bank, you give him what he wants okay?

PAP really have lost their moral integrity to lead the country.

 

[NissanViP]

Tony Tan is trying to teach other leaders how to con their citizen the way singapore LKY govt is doing it.

Tony fuck Tan never die before.

 

[Frankiestine]

How shameless can that chao ah gua get...:oIo::oIo::oIo::oIo::oIo:

 

[pia]

How shameless can that chao ah gua get...:oIo::oIo::oIo::oIo::oIo:

What does he say about the obscenely paid Lehman Bros, Citibank, ML executives for which such problems wouldn't exist if not for them in the first place?

Money is everything to these assholes, isn't it? :oIo::oIo::oIo:

 

[annexa]

I would like to see what is Obama's rebuttal to Tony Tan's comments.

It's going to be goooooood

Obama : Tony who?

 

[VIBGYOR]

obama : Tony who?

our fat tony!

He works for the old mafia boss!

 

[angie II]

"Hey dun blame me, if you're paid millions u would have said the same right? hehe.."
​

 

[Lestat]

obama : Tony who?

hahahahahaha!!!!

 

[Loofydralb]

Obama:"We reject as false the choice between our safety (in Singapore's case, our greed) and our ideals."

Singapore govt has thrown our ideals down the drain. Stop calling it Civil Service and change it to Self Service.

Stop calling it Public Service and change it to ATM Service.

 

[shelltox]

In the US, the thief is smarter than the police, the lawyers are smarter than the judges.
and when you cant succeed anywhere else, you become a politician

 

[Merl Haggard]

"Hey dun blame me, if you're paid millions u would have said the same right? hehe.."
​

This bloody bloated bastard who was once a decent & religious chap
has been converted by the Leegime into a very corrupt arsehole!

Shame on you, you bloated white hair bastard!

 

[whorejinx]

Singaporeans should put Tony Tan on the list of PAP to be charged for legalized plundering & corruption.

http://www.abc.net.au/news/stories/2009/02/05/2483007.htm?section=justin

Greens call for Obama-style executive salary caps

Posted 13 minutes ago

* Related Story: Obama orders salary cap for bailout firms

The Greens are urging the Federal Government to follow the United States in limiting the salaries paid to the top executives of companies that are bailed out by the Government.

US President Barack Obama has moved to cap salaries at $US500,000 ($776,000) and will also limit severance packages.

Greens leader Bob Brown says he has tried four times to get similar legislation through Parliament, but has been blocked by the major parties.

"I'll be putting pressure on the Government again to act in the wake of Obama to cut back on some of the obscene packages that we have seen in recent years," he said.

"Particularly from those corporations like the banks which are receiving assistance from the tax-payers through the Government in measures that we are seeing going through this Parliament at the moment."

 

[littlefish]

Tony Tan Keng Yam, deputy chairman and executive director of the Government of Singapore Investment Corporation, suggested that one reason American regulators fell down on the job was that they were paid too little.

“You must have as good people working in the government in the regulatory authorities as those that are working in the private sector,” Mr. Tan said. “You do need, particularly in these very difficult times, capable people in central banks, in government, in the Treasury who can effectively supervise.”

Mr. Tan knows about this firsthand. He is a former regulator himself, and Singapore has a different view about compensation.

“We pay our politicians and our government servants very well,” he said. “We lock remuneration to the market.”

Wah, siao liao, tiny Singapore criticises USA. Say their regulators no good since they are not paid a lot.

 

[The_Latest_H]

Singaporeans should put Tony Tan on the list of PAP to be charged for legalized plundering & corruption.

http://www.abc.net.au/news/stories/2009/02/05/2483007.htm?section=justin

Greens call for Obama-style executive salary caps

Posted 13 minutes ago

* Related Story: Obama orders salary cap for bailout firms

The Greens are urging the Federal Government to follow the United States in limiting the salaries paid to the top executives of companies that are bailed out by the Government.

US President Barack Obama has moved to cap salaries at $US500,000 ($776,000) and will also limit severance packages.

Greens leader Bob Brown says he has tried four times to get similar legislation through Parliament, but has been blocked by the major parties.

"I'll be putting pressure on the Government again to act in the wake of Obama to cut back on some of the obscene packages that we have seen in recent years," he said.

"Particularly from those corporations like the banks which are receiving assistance from the tax-payers through the Government in measures that we are seeing going through this Parliament at the moment."

He's got a point really. Although it has been part of the Australian culture that most CEOs of banks don't get more than A$7m in total pay. The few who reached that level were also heavily criticised at that time.

I support the Greens in this in principle basically. The issue is about the application.

 

[0939]

Singapore workers have become more expensive than those in USA and Australia.- Tony Tan
Why can't he said our salaries are pegged to the market.​

 

[Einfield]

Singapore workers have become more expensive than those in USA and Australia.- Tony Tan
Why can't he said our salaries are pegged to the market.​

Fat Tony,
Let's all take a pay cut, starting from you and your boss.​