30 Jan '12, 9pm

PAP would do anything and anything for high GDP growth

UPDATE: A few people wrote that MAS has rules to require brokers such as MF Global to seperate client money from its own. Having a law is one thing but ensuring that it is followed by effective policing is another. Also, are Singapore investors using MF Global in the situation as investors of defunct s-chips - the MAS unable to go after the wrong doers because they are not in Singapore even though the crime was committed here. It is useless to have laws when it is hard to go after people who break it. MF Global a financial dervatives broker has collapsed and filed for chapter 11 bankruptcy. MF Global was allowed to operate in Singapore offering exchange traded derivatives, futures, options, forex and OTC (over the counter products) such as contracts for difference. MF Global collapsed due to wrong bets on European sovereign debts but that is not the main problem. The CEO, ...

Full article: http://singaporemind.blogspot.com/2011/11/mf-global-colla...

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