04 Oct '11, 5am

SDP: Singapore's financial system perched on top of a house of cards #sgelection

SDP: Singapore's financial system perched on top of a house of cards #sgelection

And yet the PAP is betting our economic future on this system. Worst of all, our CPF (now this is real money because they were part of our wages and not loans that banks conjured up from nothing) is tied up in the very banks and financial institutions that we now realise are really a house of cards. The people at the GIC and Temasek will pretend that they know what their doing but they are just as clueless as anyone else. Otherwise they would not have exposed our money to Western banks and lost hundreds of billions dollars in investments in toxic financial products. The SDP has repeatedly warned about our quest to become a financial hub (see articles below). The reason is twofold: One, in order to become a leading power in the world of today's finance, we have to adopt the creed of greed. Greed is humanity's mortal enemy: it tears families apart, it ruins friendships and i...

Full article: http://yoursdp.org/index.php/news/singapore/4983-perched-...

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