There are striking similarities between what happened on Bukit Antara Bangsa, Kuala Lumpur and what happened on Wall Street New York. Both were the out come of human greed and stupidity.
Bukit Antara Bangsa Kuala Lumpur
Greed - Some developers knew that they could get a lot of money from the sale of luxury hill side homes but due to the inherent danger of land slides, it was very difficult to get building approval. Some government officials, however, could not resist the huge financial incentive offered by the developers.
Stupidity - People bought the houses because they were located in a posh residential area. They disregarded the fact that 15 years earlier, High Land Tower built in the same area collapsed due to land slide.
Wall Street, New York
Greed - According to George Soros, some greedy people " manipulated the financial system to maximize profit and they could do it because of the inherent defect in the system itself" And according to Daniel Gross "The financial institutions on Wall Street were not banks in the true sense of the word. Instead they were Hedge Funds lashed to investment banks". Every body knows that Hedge Fund people always go all out for big money.
Stupidity - United States has NO central bank like Bank Negara in Malaysia. The Federal Reserve Bank that issues American dollar notes, is just like any other bank that has its own agenda which might not conform to the government's fiscal policy. Who owns the Federal Reserve? Just take a look at an American dollar note. There are Jewish symbols on it.
Implication for Malaysia - Che Det says with the present growth rate, we will not be able to get to Vision 2020 as scheduled
Bukit Antara Bangsa Kuala Lumpur
Greed - Some developers knew that they could get a lot of money from the sale of luxury hill side homes but due to the inherent danger of land slides, it was very difficult to get building approval. Some government officials, however, could not resist the huge financial incentive offered by the developers.
Stupidity - People bought the houses because they were located in a posh residential area. They disregarded the fact that 15 years earlier, High Land Tower built in the same area collapsed due to land slide.
Wall Street, New York
Greed - According to George Soros, some greedy people " manipulated the financial system to maximize profit and they could do it because of the inherent defect in the system itself" And according to Daniel Gross "The financial institutions on Wall Street were not banks in the true sense of the word. Instead they were Hedge Funds lashed to investment banks". Every body knows that Hedge Fund people always go all out for big money.
Stupidity - United States has NO central bank like Bank Negara in Malaysia. The Federal Reserve Bank that issues American dollar notes, is just like any other bank that has its own agenda which might not conform to the government's fiscal policy. Who owns the Federal Reserve? Just take a look at an American dollar note. There are Jewish symbols on it.
Implication for Malaysia - Che Det says with the present growth rate, we will not be able to get to Vision 2020 as scheduled
1 comment:
I'd say the best word is ignorance. Hurm..
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