Tuesday, March 27, 2007

What does Bill Gates, George Soros, Mother Theresa and a PAP minister have in common?

Just posted a reply on the YPAP blog. Keeping a copy here for archive

"A platoon with the acumen of Bill Gates, risk appetite of George Soros and the heart of Mother Theresa, I would think. And the compensation? Priceless."

I find the comparison to Mother Theresa offensive. She was revered for giving unreservedly to the society while asking nothing in return for herself - to mention her name in the same breath as an article trying to justify that 1 million is still not enough for some... is simply ghastly.

The business acumen/risk appetite bits are simply ironic given the track record of massive investment disasters. The key point to note is not that investments are without risk. The crux of the matter is that top bankers get axed when they make massive losses - we have yet to see or hear of a single high ranking official take responsibility when things go horribly wrong. (i.e. it's a honest mistake etc)

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