The recent public outcry over the losses incurred by the town councils in Singapore has provoked a response from Teo Ho Pin, the chairman of the PAP Town Councils, who reminded residents to "be thankful". Here's a scanned image of the report. (Or click the related story links below to follow the discussion on this sorry episode.)
Teo seemed to conveniently ignore the fact that not even a single soul from the residents knew anything about the PAP town councils gambling with taxpayers' monies until the meltdown of the global financial markets. So if the meltdown didn't happen, does that mean the town councils will just continue to quietly make their profits and reward themselves with fat year-end bonuses, while residents keep paying the ever-increasing service and conservancy charges that the town councils claimed were insufficient to cover the maintenance of their estates?
Teo's rationalisation has been lampooned on the Web:
this kind of action is just like
a gambler took the child's piggy bank... "give me the money, i promise the last time" can remember?
Then he take, the child super buey song. Then he go gamble, then lose a bit of money. Then he come back and tell you "Be thankful, i never lose everything... cuz i play poker, i play roulette, I play chor dai dee"
"chor dai dee and poker unexpected loss, the banker play cheat. My winnings came from roulette"
Be thankful the town councils have not lost ALL your money
Be thankful "Dr." Teo even bothered to respond, instead of just saying "It's a honest mistake, let's move on."
Be thankful someone actually answers the phone at a government agency and be polite to you instead of giving you the runaround
Be thankful for the modicum of democracy at the Speakers' Corner, otherwise you will have nowhere to whine
In fact, be thankful you're even allowed to vote
Be thankful to Dr Teo Ho Pin for illustrating the PAP’s hubris and arrogance
SM Goh should send Teo Ho Pin to learn from Hougang Town Council to keep PAP MPs on their toes
Technorati Tags: Teo Ho Pin Singapore town councils investment losses PAP be thankful transparency
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