tag:blogger.com,1999:blog-2992822537416759686.post4940117316300446834..comments2024-03-28T13:56:13.567+08:00Comments on Help your own money: What Singapore can learn from the US financial crisis of 2008hyomhttp://www.blogger.com/profile/00175340583474513718noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-2992822537416759686.post-71185140443016396872018-01-05T14:51:27.697+08:002018-01-05T14:51:27.697+08:00We are an approved Category A member of the financ...We are an approved Category A member of the <a href="https://www.fxbtrading.com/financial-commission?_aid=1928" rel="nofollow">financial-commission</a> which is one of the world's leading External Dispute Resolution organizations.Anonymoushttps://www.blogger.com/profile/07757883609116858138noreply@blogger.comtag:blogger.com,1999:blog-2992822537416759686.post-6082605682613326902012-05-26T23:35:13.588+08:002012-05-26T23:35:13.588+08:00There's a saying "Money is the root to al...There's a saying "Money is the root to all evil," I don't usually agree with that statement but for whatever reason, after I read thru this post, I begin to agree. <br /><br />I was asking myself the same question, if I were to receive huge bonuses for making a hit and nothing to lose if it's go wrong (cause it's the investors money) wouldn't I'd do the same? Well, guess what, sadly enough, I think I'd might do the same:( Pray for forgiveness.Elder Shield Singaporehttp://elder-shield.comnoreply@blogger.comtag:blogger.com,1999:blog-2992822537416759686.post-71601719795959145782011-08-24T20:42:33.394+08:002011-08-24T20:42:33.394+08:00This article is very insightful, money corrupts, t...This article is very insightful, money corrupts, too little, the good people works for someone else and became another country's foreign talent, too much, the good people became greedy and do anything to grab hold of more.what are futureshttp://www.futures-explained.comnoreply@blogger.comtag:blogger.com,1999:blog-2992822537416759686.post-7186767486594516402011-04-20T02:27:08.743+08:002011-04-20T02:27:08.743+08:00im reading your posting but not bored with lot of ...im reading your posting but not bored with lot of text,.,.good jobpuxflixyahttps://www.blogger.com/profile/10694115923108266414noreply@blogger.comtag:blogger.com,1999:blog-2992822537416759686.post-54982181159739029452011-04-09T14:32:48.154+08:002011-04-09T14:32:48.154+08:00If you think there are problems with the incentive...<i>If you think there are problems with the incentive system for our Civil Service, why don't you make some constructive recommendation?</i><br /><br />This is a good topic for a new blog post.hyomhttps://www.blogger.com/profile/00175340583474513718noreply@blogger.comtag:blogger.com,1999:blog-2992822537416759686.post-16323039256672344632011-04-03T19:44:44.018+08:002011-04-03T19:44:44.018+08:00If you think there are problems with the incentive...If you think there are problems with the incentive system for our Civil Service, why don't you make some constructive recommendation?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2992822537416759686.post-45026647012269409302011-04-02T23:44:13.520+08:002011-04-02T23:44:13.520+08:00Why don't you give some examples closer to hom...<i>Why don't you give some examples closer to home instead of Wall Street?</i> <br /><br />Do you mean local examples of perverse incentives that cause harm to the system?<br /><br />The financial services industry is rife with such conflicts of interests, from the relationship managers who had aggressive sales quota for the toxic Lehman Brothers minibonds that they sold to retirees to the fund managers who do not have suffer the loss of their clients' money when they take excessive investment risks. <br /><br />Much harm has been done to consumers by financial advisers who are paid by commission. Take example, the insurance agents.<br /><br />On the surface, insurance agents will say they sell insurance plans based on the needs of their clients. In reality, they sell based on which plan pay them the most commission. This has worked against the interests of consumers because a good deal for the issuer of a financial product is usually a bad deal for the buyer. A good deal usually means high commission for the salesmen of the financial products. Hence, today we have Singaporeans paying large sums of money for whole-life plans and yet not getting adequate healthcare protection.<br /><br />As long as financial advisers are paid by commission, we should not expect them to act according to our best interests. <br /><br />I would like to make clear that while these people may have done harm to financially illiterate consumers, they are not inherently evil. They simply happen to work in an industry with perverse incentives that turn good people bad. I will be no better if I had worked in the same industry.<br /><br />Thankfully, I am lucky that I do not face no such internal conflicts in my line of work as an engineer. I get rewarded when my product work to the satisfaction of my customer. I do not make money from their losses.hyomhttps://www.blogger.com/profile/00175340583474513718noreply@blogger.comtag:blogger.com,1999:blog-2992822537416759686.post-75537884530568861562011-03-28T19:28:20.412+08:002011-03-28T19:28:20.412+08:00http://en.wikipedia.org/wiki/Moral_hazardhttp://en.wikipedia.org/wiki/Moral_hazardcruftyhttps://www.blogger.com/profile/11004260551144354665noreply@blogger.comtag:blogger.com,1999:blog-2992822537416759686.post-70581332090285747532011-03-26T19:28:10.350+08:002011-03-26T19:28:10.350+08:00Highly insightful article. Why don't you give ...Highly insightful article. Why don't you give some examples closer to home instead of Wall Street?Anonymousnoreply@blogger.com