Nov 7, 2012
Nov 3, 2012
Wa...Dr...you're really a very reliable man, innit?
Genneva Sdn Bhd (still under investigation)
then...
then...
Genneva Malaysia Sdn Bhd (just started investigation)
then...
then...
????????????????????????????
No matter how many times BNM raids or charges them,
all they need to do is register a new company and voila, business as usual.
P.S. they still have not tell us how they generate their income to pay for all the hibahs and commisions
Sep 26, 2012
Aug 4, 2012
Aug 2, 2012
The best solution:
Withdraw from some crap Olympics (crap coz squash should be an Olympics sport, then we would have won a gold long ago). If not because of years of lobbying from a Hong Kong tycoon, Timothy Fok Tsun-ting that has spent hundreds of millions, this sport wouldn't have become an Olympics sport. What's so great about the Olympics? It's just a money making machine for the cronies of the council. Just like World Cup, Sepp Blatter made I don't know how many millions in one WC.
For example, in the sport of athletics or swimming, who cares who won gold??? The one people care about is who's the fastest man on earth, and that's the world record holder. Even if you're a gold medalist, you're not the WR holder, you're still not the best. Nowadays a woman can swim faster than a man, who cares if you're the fastest man in the pool??? People only think about who's the fastest human in the pool. BWF can conduct their own World Championships every 4 years once instead of an annual event. It's as prestigious as the Olympics also what? Who cares if you don't win Olympics medals, it's the WC that's the ultimate prize IF badminton quit the crap Olympics and conduct their own WC quadrennially.
Last but not least, you can't kick manipulation out even by using KO. What if you meet your compatriot in the semis??? Remember Zhou Mi vs Zhang Ning, Athens 2004??? It's not the players' fault. It's the chief's fault. Thay just receive orders. Do you think they can go against Li Yongbo?? Hah!!!
To kick manipulation out, there's only one way. BWF should fine Li Yongbo and the likes personally for say...US$5 million each time he tries to rig a game??? And use the money to develop the game of badmintion or donate it to a charity.
Thanks.
Jul 20, 2012
Jul 18, 2012
Jul 6, 2012
Tommorow morning??? People's just thinking about Katie and her heels...
Why is Nobody Freaking Out About the LIBOR Banking Scandal?
The LIBOR manipulation story has exploded into a major scandal overseas. The CEO of Barclays, Bob Diamond, has resigned in disgrace; his was the first of what will undoubtedly be many major banks to walk the regulatory plank for fixing the interbank exchange rate. The Labor party is demanding a sweeping criminal investigation. Mervyn King, Governor of the Bank of England,responded the way a real public official should (i.e. not like Ben Bernanke), blasting the banks:
It is time to do something about the banking system…Many people in the banking industry are hardworking and feel badly let down by some of their colleagues and leaders. It goes to the culture and the structure of banks: the excessive compensation, the shoddy treatment of customers, the deceitful manipulation of a key interest rate, and today, news of yet another mis-selling scandal.
The furor is over revelations that Barclays, the Royal Bank of Scotland, and other banks were monkeying with at least $10 trillion in loans (The Wall Street Journal is calculating that that LIBOR affects $800 trillion worth of contracts). @_@ $800 trillion???
Anyway, the LIBOR story is leading the front pages of most of Britain’s dailies, it’s on TV, and it’s producing blistering editorials and howls of outrage amongst politicians and activists. But as compadre Yves Smith at Naked Capitalism put it, where’s the outrage here in America?
The big story on our shores in the last few weeks has been the health care ruling, which makes sense, but then after that… what? The heat? Tom and Katie? (There’s actually a story about how Katie can wear heels again, now that she’s not married to a short person). Oh Tommy boyyy...btw...Suri is so cute.
Oh dear Henry...it seems nothing can start no revolution...hey, hang on...try cutting the people from their daily celeb gossip...maybe that'll work ;-)
Do not understand our banking and monetary system??? It seems to me it's more like Collective Ignorance!!! They just couldn't care less.
Jul 3, 2012
Quote of the Day
“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”
- Henry Ford
- Henry Ford
Jun 24, 2012
Jun 23, 2012
Jun 3, 2012
May 30, 2012
May 9, 2012
May 2, 2012
“If You Are Too Big To Fail, You’re Too Big”: Richard Fisher
Excerpts:
Nearly four years after U.S. taxpayers bailed out Wall Street, the debate over how to deal with America's too big to fail banks rages on.
"Five banks have 52% of all the deposits in the industry and they are now bigger than they were before we got into the crisis," explains Fisher. That's compared to 1970 when the top five banks maintained just 17% of all deposits. "We've had this huge amount of legislation called Dodd-Frank — thousands of pages, hundreds of sections — and it is has not solved the too big to fail problem."
In fact, the combined assets of the top 10 banks equal half of America's total GDP, according to the Dallas Fed's annual report.
"There is an inherent injustice in being too big to fail because you are implicitly getting a subsidy from the government," says Fisher. "They don't have to be these giant depository institutions that are underwritten by the taxpayer."
"Dodd-Frank has made it very difficult from a regulatory burden standpoint for community and regional banks," Fisher says. "These are the people who lend to small businesses [and] small businesses create the majority of jobs in America."
He believes Dodd-Frank "penalizes community and regional banks" and even "interferes with the proper connection of monetary policy to the economy as a whole."
If the problem is not solved, he believes another crisis will hit again, at some point in the future.
Source
Nearly four years after U.S. taxpayers bailed out Wall Street, the debate over how to deal with America's too big to fail banks rages on.
"Five banks have 52% of all the deposits in the industry and they are now bigger than they were before we got into the crisis," explains Fisher. That's compared to 1970 when the top five banks maintained just 17% of all deposits. "We've had this huge amount of legislation called Dodd-Frank — thousands of pages, hundreds of sections — and it is has not solved the too big to fail problem."
In fact, the combined assets of the top 10 banks equal half of America's total GDP, according to the Dallas Fed's annual report.
"There is an inherent injustice in being too big to fail because you are implicitly getting a subsidy from the government," says Fisher. "They don't have to be these giant depository institutions that are underwritten by the taxpayer."
"Dodd-Frank has made it very difficult from a regulatory burden standpoint for community and regional banks," Fisher says. "These are the people who lend to small businesses [and] small businesses create the majority of jobs in America."
He believes Dodd-Frank "penalizes community and regional banks" and even "interferes with the proper connection of monetary policy to the economy as a whole."
If the problem is not solved, he believes another crisis will hit again, at some point in the future.
Source
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