Read this article.
Wednesday, February 25, 2009
City watchdog promises 'banking revolution'
Financial regulators may in the future ban financial products if they are too risky or too complex, Lord Turner, chairman of the Financial Services Authority, said today.
TKL Blog passes 1 million visitors
My blog passes 1 million visitors on 26 February 2009, just slightly more than 2 years since the count started in February 2007.
Palm Jumeriah, Dubai
The Palm Jumeriah is built on reclaimed land. It is a very large development shaped like a palm tree. It comprises of the trunk, crescent and many fronds.
There are several large apartment blocks built on the trunk. Atlantis Hotel and its supporting developments is built on the crescent. The expensive villas are built on the fronds. Almost all developments have a waterfront.
The development is served by a monorail system that is connected to the Dubai Metro. It is opening in April 2009.
Atlantis is a popular attraction for the locals and tourists. You can watch this video to get an idea of the Palm. There is a tunnel that goes under the water connecting the mainland to the Palm and from the trunk to the crescent of the Palm.
Tuesday, February 24, 2009
Respect Other People's Views
Minister for Health Khaw Boon Wan suggested that some people can consider sending their elderly parents to a nursing home in Johor Bahru, where the cost is less than half of the cost in Singapore.
This created a big uproar. It attracted more than 300 comments in postings in The Online Citizen. Over 80% of the comments were strongly against the suggestion. Many of the comments were rude and abusive. They called the minister inappropriate names. I was shocked at this behaviour.
First, it was not necessary for people to give their views in a rude manner. They should show respect to the views of other people. I am not suggesting that a minister deserves more respect than any ordinary people. But he should not be given any less respect either.
Second, there is a strong perception that any suggestion by a minister will be implemented as government policy. If the reaction is likely to be irrational and negative, the government may decide that it is better not to engage the public. Surely, as citizens, we like to have the chance of giving our views before any decision is taken by the government leaders? Can we give our views in an objective manner, rather than behave badly?
Third, there seems to be a strong dislike and distrust of the government. This is unhealthy.
Recipe for Disaster: The Formula That Killed Wall Street
Read this article.
Actually, the top people in Wall Street don't care. This formula allows them to show billions of profit, on which their bonuses are calculated. When the global financial system collapsed, they disappear with their big bonuses. They don't have to pay back or suffer the loss, which is borne by the rest of the world.
What greed!
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