mr brown said:

Be rest assured, Singaporeans, town councils are taking good care of your money.

Recommended by at82: "Kampung News Network is the BEST!"

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Mr Wang said:

The fact that town councils invest your conservancy fees into stocks, shares, bonds and structured products really just goes to show that Singaporeans have been paying way too much in conservancy fees.

What do town councils need so much money for, anyway? As of last year, they had more than $1,000,000,000 of excess cash in their sinking funds! Surely it doesn't cost that much to build a few playgrounds and basketball courts, and to pay some Bangladeshi workers to clear the rubbish and sweep the floor every day.

Note that town councils aren't responsible for maintaining everything in your HDB estate. Organisations like the National Parks Board pay for the maintenance of the parks; while the Land Transport Authority pays for maintaining the roads and bus-stops; the Singapore Sports Council pays for the maintenance of the public swimming pools and sports stadiums etc.

Recommended by at82: "Since when did we pay our S&C fees to Town Councils so that they can play Hedge Fund Managers?"

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Where Bears Roam Free said:

“All you investors took the risk, so you better swallow the bitter pill that you have to pay for your consequences.”

In other words, don’t blame the banks, MAS or any other government regulatory body. They are not at fault, you are. So far so good. But then, what about the Town Council Funds?

The main crux of investors’ grouse is that they the banks have misrepresented the product as safe. MM Lee implies nothing was done by the banks that was unethical.

The problem with this argument is that if investors are “stupid” enough to get burnt, then hell, the Town Councillors, which include PAP MPs, as well as their staff, are “stupid” too.

Recommended by at82: "That's life. Just like what our SM Goh had said."

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Singapore Critic said ...

I decided to play the (Chinese) disk in the jazz cafe last night [...] a table of 3 young women asked my waitress over and requested the CD be changed [...] we're not in the mood for such old tunes and we don't like these kind of music, please change the CD.

Find out what happens when the CD is changed to an English jazz one.

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