TWO People's Action Party (PAP) town councils are reviewing their investment strategies, just days after it was revealed that they had some funds exposed to toxic products.
Mr Ahmad Magad and the town councils. Here's the best investment strategy advice: return the money to the people. You and your "financial advisers" are incompetent and should be fired, please accept that reality. Let HDB residents decide how they should spend their money. Give it back NOW. Forget about earning 3% or 10% or whatever. Why is the government so insistent on donating our money to Wall Street?
Likewise, Tampines Town Council chairman Ong Kian Min said he will discuss with his fund managers what needs to be tweaked in their investments: 'We will not tell them exactly what to do, as they are the experts. But it is a good time to discuss our strategy now, as we constantly do.'
Cannot tell the 'experts exactly what to do? Can tell them to fly kites or not?
NOW is the time to use all the money to rejuvenate the economy. Time to refurbish our flats.
WE don't pay peanuts so don't ever try to give us monkeys!
Can we stop all this nonsense altogether? No one came out to account why town councils have to keep reserves of over 100mil, now still trying to subtly justify their loss? Think we are fools?
November 21, 2008 Friday, 03:30 AM
