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PAP like StanChart not broken, just in for 10-year service?

In Political governance, Temasek on 10/11/2014 at 4:26 am

The chairman of StanChart said to 300 of the bank’s senior managers in Singapore last week, “We’re making changes. But all you have to do is go out in the field, go out into our markets, and you very quickly realise that it’s not broken. It just needs to go in for its 10-year service and we are in there for that 10-year service now … it’s a question of going through this difficult period, gritting our teeth”.

He said: “Humility is a very important word. It’s very important that we recognise we make mistakes”.

http://www.theguardian.com/business/2014/nov/07/standard-chartered-chairman-john-peace-bank-humility.

(And Chairman Sir John Peace was in Singapore last week insisting the bank is not ‘broken’. Three profit warnings say otherwise  http://www.theguardian.com/business/2014/nov/09/standard-chartereds-charm-offensive-may-not-save-sands)

Well the PAP has been making changes, gritting fangs and sheathing claws since 20111: spending more of our money to make life more comfortable for ourselves.

https://atans1.wordpress.com/2013/08/16/analysing-pms-coming-rally-speech/

https://atans1.wordpress.com/2013/10/04/trust-has-to-regained-pm/

But it doesn’t ever do humility (OK PM did apologise once during a 2011 GE rally speech, but hey he had an election to win). It won’t even admit that the PAP’s Hard Truths need servicing every now and then. It’s all a question of new blood to uphold Hard Truths.

Taz the impression I get after this

— “Today is the time to re-dedicate ourselves to the party and to Singapore. In the next 60 years, the path ahead will be different.”

— “One thing has not and will not change, that is the need for good leadership. The PAP commits to provide the leadership and serve Singaporeans better…The PAP will always be on Singapore and Singaporeans’ side.”

— “The PAP will always do its best for Singapore and Singaporeans.”

PM made these statement at the Victoria Concert Hall on 7 Nov in celebration of PAP’s 60th anniversary.Victoria Concert Hall was the venue because this was where the PAP launched way back in 21 November 1954, with its inaugural political meeting held there.

So because the PAP is not prepared to service its Hard Truths to see if they need throwing out, we are stuck with

—  a CPF annuity where the Standard Plan is lousy, really lousy https://atans1.wordpress.com/2014/08/17/will-pm-tonite-give-peace-of-mind-on-cpf-life-standard/

And where it’s our money but CPF Life solvency is our problem –https://atans1.wordpress.com/2014/08/17/will-pm-tonite-give-peace-of-mind-on-cpf-life-standard/

https://atans1.wordpress.com/2014/08/17/will-pm-tonite-give-peace-of-mind-on-cpf-life-standard/

— Medisave’s incentive to spend on medical insurance that may not be needed

https://atans1.wordpress.com/2014/07/08/daft-sinkies-dishonest-insc-agents-or-medisave-sucks/

— MediShield being probably not a value proposition

https://atans1.wordpress.com/2014/07/14/medishield-totful-tots-on-loss-ratio-to-determine-premiums/

— Medishield’s lifetime limit [This item added at 7.00am]

https://atans1.wordpress.com/2014/03/03/no-needed-three-fixes-to-show-the-pap-really-cares/

— immigration

https://atans1.wordpress.com/2013/02/15/population-white-paper-2030-will-resemble-1959/

The Hard Truths behind immigration:

— more people means better growth; and

— S’poreans are daft and lazy.

The Hard Truth behind the other difficulties S’poreans face listed above is that govt should not spend tax-payers money on “welfare”, only on toys for the military and govt running expenses (which includes ministers’ and civil servants salaries).

 

 

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  1. PM Lee,the son of MM Lee,should learn from Chairman Sir John Peace “It’s very important that we recognise we make mistakes (and openly say so)”.

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