Singapore Democrats, 22 Jan 2009, Han Ming Wen
One need not be a rocket scientist to join the dots to reveal the master plan. First change the finance laws, then formulate almost impregnable secrecy laws, thereafter offer tax reliefs and incentives, and finally build casinos. And voila! Billions of overseas funds (much of it tax evasion and illicit monies) start pouring into our banks.
To the many who benefit from such money the move is a brilliant masterstroke that other countries are too slow to catch on to. Perhaps.
But lest we forget, unscrupulous financial dealings have already eaten up a 158-year old institution (Lehman Brothers), reduced the world’s biggest bank to a 'me too' when it comes to bailouts (Citigroup), crippled England’s largest financial institution (Barclays), and brought the USA and Europe to its knees.
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