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Weekly Roundup: Week 51
Posted by singaporedaily on 20th December 2008
“..[investors] were misled into believing that they were investing in a basket of 5 to 8.. financially strong companies or sovereign governments. They were told that if one entity should fail, they would only lose their invested sum on a proportionate basis.. They were shocked to learn later that they were actually selling credit insurance against the failure of any of these entities. If any single entity failed, their entire principal would be lost. Instead of spreading the risk proportionately over 8 entities, they were taking 8 times of the risk of any single bond!”
Tan Kin Lian
“..How do we teach Confidence and Creativity?, might be the wrong question to ask. The question we need to ask is, How did we kill Confidence and Creativity?”
Mathia Lee
“There are 76,200 unemployed, 292,800 workers earning $1,200 or less, and 126,800 part-timers earning a median income of $600. This in total is 495,800, out of the total resident work force of 1,928,300.. 1 in 4 workers.. are earning $1,200 or less or unemployed?”
Leong Sze Hian
“..it is increasingly clear that Singapore is not the happy utopia where hard work will automatically usher in just rewards. Inflation may not be a solvable problem but the way we handle its social ramifications as a nation will tell us what kind of people we are.”
groundnotes
“..[the poor] have to be an aberrance so that they can be a reassurance. We affirm our happiness with the fact that we are not them.. There is a constant gaze on poverty.. watching an NKF sob story isn’t smply seeing sick people suffer. It’s seeing poor people suffer from sickness.”
mollymeek
This week’s roundup and recommended reads after the break.
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