On Mar 18, 11:29=A0am, yansimon52 <yansimo...@[EMAIL PROTECTED]
> wrote:
>>
> > Time to get rid of your bank shares before it become worthless
>
> About 15 to 20 years ago, when the Sinag****e property was in the
> downturn....we still see Far East putting this adv 'We want to buy
> landed property' pls contact 'Mr Chong at tel 2352411........Ppl were
> asking why Far East still buying up properties =A0when properties were
> in the doldrum?.........this is called 'wayang wayang ' lar
>
Hey Simoni..
FE is a property developer...it is their business to
build houses and sell them at a profit. They have
to wayang-wayang to make a living.
FE is not a loan shark...like the finance houses in
USA or investment banks....lending money to poor
Americans who have no mean of repaying the mortgage
loans.
> Cos, Far East is one of the largest property owners in Singa****e and
> they cannot allowed property price to drop leh..........got to buy up
> for show show only and at the =A0same time to 'prop-up' property price
> wat.
>
> In this JP Morgan Chase purchase of Bear Stearn..........oso can be
> view as for 'show show'.........
JP Morgan Chase was armed twisted by the US government
to take over the operations of Bear Stearns... the US government
gave a credit line of US$30 billions to underwrite the amount
of money Bear Stearns owed to its creditors. Bear Stearns would
been bankrupt and closed ...if the deal was not completed
by Sunday, before Wall St. open on Monday.
> I bet you JP Morgan Chase, they
> themselves oso facing internal cash flow problem.........
Yes. JP Morgan Chase has lots and lots of problem
with the subprime saga. It too had to sort out the
problem of credit crunch. But with the huge credit line
given by the US government...it will have some breathing
space ...at least for now.
Before the deal, the creditor of Bear Stearns were
shaking...fearing that they had to write off their loans
in billions to Bear Stearns... If it had happened, then
many of these creditors, ..some of the leading finance
houses in Wall Street, would be forced to declare
bankrupt . ..it would set off a domino effect...like
a Tsunami ..drowing many of them...in a bloodbath.
The deal, in this sense, saved the US financial system
at least for now ...tem****arily....
This saga is not ended yet...the bloody fights for
survival ...is far from over ...for the many troubled
US finance houses and investment banks.
Whatever the US government do now...it cannot prevent
the US economy from sinking into a deep recession.
Experts fear that it could be worse than the Great
Depression in the 30s which brought hard****p to
every country around the world.
It would be wise...for the Singa****e government
to uncouple our economy with the USA...(example
US dollar parity)...to minimise the harmful knock
on effects from the US recession.
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