The WEST is not that 'SMART' afterall

[Wt_know]

Lesson shown in this sub-prime and mortgage crisis. Not 1, Not 2, Not 3 companies or banks are affected. ALL of them are affected.

 

Birds of a Feather, Flock Together -> this time for a bad reason

 

Companies engage these so called "consultants" from the WEST (mainly US) that charge us "obscene" high cost to teach us management theory, uphold transparency, strengthen corporate governance, risk management & distribution, best practices, etc etc -> Now, see what happens to themself ?

 

below is a copy&paste from yesterday's article from ST.

 

'There was a time when the Americans used to hammer us,' says an Asian investment banker who was part of the KEB negotiations in 2001. 'They talked down to us on transparency, on the need to enhance shareholder value, on strengthening boards and other best practices. Now, all that has blown up in their face.'

Edited September 18, 2008 by Wt_know

[Albeniz]

  Quote

... Now, all that has blown up in their face.'

 

And that's a FULL BLAST on them.

[Shull]

all these are correct..it's part of corporate improvements..

 

what they did wrong this time round is biting more than what they can swallow..

 

kiang jiu ho..mai key kiang..

[Apollo]

actually this is nothing to do with transparency but greed.

 

in the midst of greed to generate more funds and more bonuses, pple took unsubstained risk to roll out $$ to pple, giving out umbrellas who simply couldn't afford it.

 

and fr one bad group of wolves, it seems the ecomony was accepting it as a culture, a norm where it is ok to take free rolling $$ to roll something out.

 

that becomes a bubble.

 

when the crunch comes and the cashcall back is made, you simply have the subprime. so properties speculators r the one who got burnt.

 

do we hv speculators here as well? yes we do.

[Wt_know]

agreed. all problems mostly caused by greed due to over exposure to risk, corruption, do things illegally, etc.

 

but, isn't the WEST who preach and teach others how to use policies & procedures in the organisation to eliminate & detect wrong doings (bad practice) and limit damage

 

  Quote

actually this is nothing to do with transparency but greed.

[Tarzan666]

okla..nobody is perfect...

 

we gave them SARS,911,bird flu..they give us mad cow,financial disasters etc..

so quite fair..

[Apollo]

the problem of the free market principle is tat FED set some OB markers and they r playing within these, not outside. with these simple tools, usually a company tat delve into bad practises will quickly become absolved by it's own undoing.

 

however, the incipient problem become benign when companies tat r seen breaking the rules getting away with it, the industry put up good numbers to substaintiate paper growth. pple like frandyMac were able to expand rapidly outstripping other companies and GDP.

 

also another problem of this is the FED is a combination of large banks who hv vested interest.

 

so in nut shell, a case of blind leading the blind. blinded by greed.

[Help1]

who say The WEST is not that SMART. They are...they are highly articulate that they r able to bullsh!t during presentations, meetings, conferences etc, and everyone is amazed and bought the idea...only We the ASIANS r STUPID...gong gong tai tai listen to their advice and look upon them....thats why u can see why ah mohs sitting high up in the management in so many companies, live in big house, drive big cars, sail big boats, stock up their savings while they can.

 

i really admire whoever that person who think and devise the home loan thingy in the US, he/she must have earns lots lots of $$$$ during that booming period and now probably sitting infront of the TV laughing at everyone liao...

[Gearoil]

You really hit the nail on spot!

 

The white boys are indeed brillant in making issue complex and bad things going worse but can turn it around! .... not only smart but able to control all the goons that react in whichever way they want them to!

 

Ask any Chinese ed in Sinkie the gist of all these turmoil and they only can come up with a similiar answer...'Mmm chye lah...goon hung tall tiao liao'!...( don't know lah..heard bank went bankrupt!)

[Wt_know]

fully agreed. they are 'genius' in sweet-talking & sing and dance their ideas,products,concepts,etc in the board room. apply their concept/idea we can increase productivity, reduce risk, improve efficiency, cutdown cost, bla bla bla ... full of $hit.then outside the board room, $hit continue to happen as usual.

 

  Quote

who say The WEST is not that SMART. They are...they are highly articulate that they r able to bullsh!t during presentations, meetings, conferences etc, and everyone is amazed and bought the idea

Edited September 18, 2008 by Wt_know

[DarkLord]

  Quote

... Now, all that has blown up in their face.'

 

And that's a FULL BLAST on them.

Nuclear bomb scale some more.

[Help1]

ang moh knows that asians are always difficult to convince as we have the "doubtful" mentality so instead of convincing asians, they confuse asians with their highly self-confidence attitude...now "chui toh lao gao sua" (tree falls monkeys disperse)