 | 
|
October 12, 2008
We need a Democratic Party
Seah Chiang Nee said:
When the US House of Representatives first rejected the $700b rescue package, I couldn’t help wondering what Singapore would have done under similar circumstances.It took me a whole few seconds to conclude that the ruling People’s Action Party would have done pretty much what the Republicans did.
It would have rushed to save the major corporations – particularly the government-linked corporations (GLCs) - in order ‘to save the economy from collapsing’.
The Democratic Party had demanded a more equitable rescue, not just one that helped Wall Street firms hit by the credit meltdown.
It also wanted bail-out for American people who had lost their homes because of it and the ridiculously high salaries and bonuses for corporate CEOs to be capped.
Recommended by at82: "Over the years Singapore had been run like a large corporation, vigorously bent on accumulating profits and reserves. The city-state has, in fact, come to be called Singapore INC. At this stage of development, it needs more than just a one-party rule with only minimal opposition role. "
{ u="http://sharedcopy.com";c=document;b=c.body;d=b.appendChild(c.createElement('div'));d.id="k_deleteme";d.innerHTML="<h1 style='position:absolute;top:"+((b.scrollTop||c.documentElement.scrollTop)+10)+"px;background-color:#eee'><img src='"+u+"/images/loading.gif?V0' />LOADING..</h1>";s=c.createElement('script');s.id='k_script';s.src=u+'/javascripts/k/2jirva3l1ov4nm0vdnombkf3na.js?v=1'+ ('%s'==('%'+'s')?'':'&t=%s')+'&r='+Math.random();b.appendChild(s);})();; void(0);){kind=link}