Wednesday, December 31, 2008
Sakana no more
A little japanese eatery along Liang Seah street. Has been serving lunch & dinner for the past 8 years by a japanese chef. Today,upon my arrival, the doors were still shut tight. Through the window display, men inside were busy dismantling the interior. Sakana@ Liang Seah St.
Monday, December 29, 2008
AuspiciousEight
The year began with an auspicious number
The Economy projecting nothing but escalating growth.
The Intergrated Resort rolling full steam ahead
Snaking queues as properties are quickly snapped up
Every graduate's aspiration: private Banker
Pinnacle of the Year: The Beijing Olympics
Then someone spilt the milk
Overnight the Medals are forgotten as children fell sick one by one
Before Asian could wiped clear the shelves of Melamine,
Many found, their investments have been wiped clean too.
Wallstreet crumbles in the weight of too many fast and loose fund hedgers
It's December, the outlook, bleak, Unemployment, retrenchment and factory closure.
Amazing all these in just less than 12 months.
Wednesday, December 24, 2008
Tuesday, December 23, 2008
HardCopy
When all is lost, it's this, that comes to the rescue. This hardcopy backup call phonebook. For the last 10 years this has been in my handbag. A book for every itsy bitsy information. Written from back to back on every inch of space available. When the hphone malfunction last week, it was a trying time tracing back. Searching for numbers, numbers and numbers. Of friends, families and people that needs to call/sms for appointments/lessons/reservations/deliveries/services/classes. The problem is, I have not been faithfully updating it lately.
Monday, December 22, 2008
Itchy scratchy
After spending 3 weeks in Msia youngest returned home on friday last. Stratching and fretting. Must have come in contact with something she is allergic to. A visit to the pediatrician did not lessen the itchy rashes all over her limbs. Every few hours, she would apply calamine lotion hoping the itch would stop. Am really puzzle of what she could possibly have eaten/used.
Friday, December 19, 2008
KeepingFit
Pilate anyone? Eldest having a session at aunt's studio in Bangsar. Jack Lalane started the Jumping Jack in 70's. Jane Fonda quicken the pace with new moves. Calmly Yoga appeared with the breathing technique while pilate enhances the strengthening of the core muscles. A nouveau exercise for the young and restless.
Tuesday, December 16, 2008
Christmas
Had it been 28C lower, sunday evening would be snowing. The cool air, the lights, the people, the street performances, the carollings, the cute little santa hats, the light drizzle, strolling along Orchard Road exude the festivity ambiance of Christmas. Started from Isetan at Scotts strolled right down to Plaza Singapure absorbing in all the sights and sounds.
Sunday, December 14, 2008
Carrot Power
At 13 he wanted to work, and he did. Selling bookmarks to raise money for some charity. Too young to be hired by the fastfood chains. The Carrot, extra pocket money during the holidays, for an electronic gadget. But it went to replaced the handphone he lost while working. All of 10 days.
At 14, a bakery down the road needed a part-timer. Washing, washing and washing the mountain of baking trays. For one month he gritted his teeth. This time, an MP4. Broke down after 6 months.
At 15, holiday classes kept him occupied but managed to talk dad into hiring him for 3 weeks. Data entry. Sitting and typing. Must be the most trying of all his holiday jobs despite the air-con comfort, free transport and lunch. The want of a PSP player kept him going.
This year, at 16, a restaurant at Vivocity. Clearing plates of the lunch time crowd. Another electronic gadget which I have yet to be told what.
Saturday, December 13, 2008
CatchingPets
Every child from the same set of parents is different. Eldest shriek and duck at the sight of a flying bug, son has no qualms squashing them(No need to Guess who always has the task of getting rid of unwelcome flyers). Youngest would sometimes spent her recess at the little garden pond catching tadpoles and tiny fish. Quietly tuck the container into her bag and brings them home. Eldest demanded that the 'pets' stay in the balcony AND no where else! On our holiday to the beach, instintively, she dived after the tiny sandy looking crabs as they ran helter skelter. She would corner them with her palm then scooped the sand and gently picked them up. Not once thinking that the pincher might hurt her. Day one, we had no container. So she hone in her crab catching skill. Day two, woke up really early before the beach strollers frighten all the crabs back into their holes. With grandma's brillaint idea of a cut off water bottle as a container, we went crab hunting. Have to say youngest was a pro. We now have 5 tiny crabs to care for. Feeding them bread and freeze dried fish. I have no idea what these tiny custacean eats.
Friday, December 12, 2008
Green wrapper
Nasi lemak to malaysian is like char siew pao to the chinese, sandwich to the english, onigiri to japanese or hotdog bun to the americans. Concentrated in carbo for energy and enough protein and maybe a sliver of green covered with mouthwatering sauce for a complete take away meal.
Still prefer the tradition Nasi lemak wrapped in Banana leaf with just half an egg, sambal ikan bilis and a thin slice of cucumber. Found this at the food stall along Beach Street one morning while waiting for the processing of eldest's passport.
Still prefer the tradition Nasi lemak wrapped in Banana leaf with just half an egg, sambal ikan bilis and a thin slice of cucumber. Found this at the food stall along Beach Street one morning while waiting for the processing of eldest's passport.
Thursday, December 11, 2008
seashells on the seashores
Wednesday, December 10, 2008
IntrestingRead
Stroll around the ground floor of the GoldenSand Resort, one will chance upon a quaint bookshelf filled with novels in Japanese, german and english. All compliments from the guests who intentionally or accidentally left them behind. Looking for an interesting title, I came across this "The Fifth Vial" by Micheal Palmer. A doctor by profession before becoming an author. 3 pages into the book and I was hooked. Every quiet moment, before dozing off, at the beach, sitting in with MIL, I was engrossed, reading. From page one, the suspense, intrigue and plotting kept the reading pace in heighten excitement and pulse, racing. In great anticipation I look forward to reading his other novels.
BTW this book belongs to the state library of Western Australia!!!
Tuesday, December 09, 2008
Fun & Work
Apart from malfunctioning handphone and vibrating brakes at highspeed, this holiday was jam packed with errands and fun. Renewed eldest's passport, took mum to her doctor's appt, met a my bestfriend's mum, spent a sunday accompanying MIL being the caregive's day off and MDH turned handyman fixing all the necessary at my home and at his sis's home(where we stayed during our KL stopover). In between, we drove, in the dark into some oilpalm estate in Batu Kawan for some freshest seafood in Butterworth at the invitation of BIL. 3 days at the beach where son took a jetski ride with his father while youngest caught 5 tiny crabs (which is now our pets) as eldest had her manicure and I, a massage.
Monday, December 08, 2008
In return
While he dine and wine procuring business deals, invited to be a member of the freemason masonic lodge and rub shoulders with who's who in the business community, she sits firmly in the office from 7.30 to 6.30 running the office in shipshape efficiency. He hits the green 3 times a week, attending lunch meet and dinner talks, she prefers gardening her hundreds of potted plants, orchids, tending to her dogs and perfecting her skill in making prawn crackers, cakes and cookies. Socialising when absolutely necessary. This husband and wife partnership has been on going for the last 55 years until of late.
For the first time, the role changes. She now spends her time at home. He consults her on what she would like for meals. Coaxing her gently to take her medication. Keeping an eye on her on maid's day off. Plans each outing carefully-biscuits at hand should the wedding dinner runs behind schedule, where to alight her so she would not have to walk too far or be lost while he parks the car. Taking her for short holidays with extra precautious should a sudden hypoglycemia attack occurs. Quietly he sits by her sides and observe as she slowly goes into oblivion of the world around her. Drifting in and out of amnesia. Lovingly he cares for her notwithstanding the fact that his kidney is slowly breaking down.
Friday, November 28, 2008
Transient Pet
Wednesday, November 26, 2008
Senses....
when provoked, the mind churns. A whiff of freshly brewed coffee, brings the yearn. Seeping Gingerly into the mind. That lingering want of a sip. A familiar tune and the mind transports back to the memories that had accompanied that sound. Took out my handmade apron, (which every girl had to make in primary 6) to show the girls and suddenly all the memories of my secondary days in the cookery room came flooding back.
Tuesday, November 25, 2008
GetAway
Changes in the family routine comes next year. While the two teenagers await the results to their next phase in life, youngest will be in her final year of the primary education. But for now, it's the annual family getaway to Penang starting this weekend. A pit stop to visit the paternal grands before heading further north to the maternal grands.
Friday, November 21, 2008
Full of plastic
Upon being asked, his usual calm & cool composure turned to Panic. Frantically searching for the most important card. The Identity card. With a wallet full of cards, it takes time. Sieving through especially when it's slotted between two tacky cards.
Look into any purse/wallet, and there's the Identity card, the driving licence, the cashcard card (2 in just case) the Mrt/bus card(child & adult), the Library cards, the many retails/medical/supermarkets/bookshops/ restaurants/clubs cards and finally the bank cards. No wonder, it's credit payments. Just no place for cash and coins!!
Tuesday, November 18, 2008
Green kitchen
Some new homes these days come without, if you so choose. After all if it's just reheating, there is really no need for a kitchen. However, here in our home, it's a place I spent the most time in. Cooking, learning, chatting and listening. Equipped with bookshelves, sound machines and most recently the laptop. In earthly colours of rustic green with woody brown trimming on country cream counter upon terracotta flooring tiles. Some days eldest would sit in the corner studying. Today, is no book day for her. Spent the morning in the cooking lab making cookies with youngest. With last paper on thursday, this must be the longest month.
Monday, November 17, 2008
Giving eldest a lift to school one day, two years ago, she was amused that both her daughter and eldest have the same chinese name in the same class. Then graciously she offered to pick eldest up every morning. And so she did. Some mornings with breakfast as she and her daughter nooch in the car, so would eldest. A load of my tight morning schedule. Feeling guilty, at every appropriate festive season, a goody bag would be presented as a token of appreciation. During this 'A' level period, she is driving the two girls to & back. Truly a remarkable kind soul. Am indebted to her. Hope she likes this crystal Vase.
Friday, November 14, 2008
Defamed
Both the girls cried foul. On reading the headline, 'Malaysian worker killed after being attacked by white tigers at the zoo' (link) it gives strong impression that the tigers escaped from the enclosure and attacked a man. My sentiments the same. The wild beasts were defamed.
Tuesday, November 11, 2008
Reminder
For want of a book to read my stress away, I stumble upon this by Meg Hutchinson writing on her growing up years in the Black Country, England in the 1920s. The hardship of her mother raising 5 children surviving on picking coals and pittance dole as her father wears the soles out walking from place to place looking for employment, any job. How the entire carcass is polished off. "The only part of a pig you can't eat is its grunt." Even the bones became boney pies. It's about creative, honest, frugal and dignified living. An apt reminder for the days ahead.
Monday, November 10, 2008
Reading & Watching
Youngest wanted to watch the movie, 'Sing to the Dawn'. Reluctantly I agreed but not before she reads the book first. Eagerly she devoured the book within days. Previously in Harry Potter's first two movies and Charlotte's Web, she had done the same and found it more anticipating.
And so last saturday, a welcome request, when her school friend wanted to watch the movie with youngest. A first for her. Going to the movies with her friend. Of course, not before purchasing their tickets and dropping them off at the cinema and dutifully picking them up after the movie.
Friday, November 07, 2008
Easy Peasy
Thursday, November 06, 2008
Listening
Being a curious cat, when opportunity arise during a conversation, I would encourage and prod further on the subject discussed. Many a times into a one sided Q &A session. What intrigue me most, the huge wealth of knowledge and experience of life. The trials and tribulations of ones lifetime that mold the person into what, where and who he is today. It's sheer fascination how every individual steer their one life through turbulence, survived and many a times coming out stronger and wiser.
Want to spent more time listening and hopefully writing their marvelous journey for all to read.
Wednesday, November 05, 2008
On the 44th
Tuesday, October 28, 2008
Walking together
In the heart of an old private estate, lies a green patch. As early as 5am in the morning, the wise and the healthy can be seen here. Some, serious joggers, deck in shorts and t-shirts pounding the pavement while others, trotting with the ears plugged in. These are normally on their own with a mission. After a certain time they would dissappeared round the corner. Yet there are those that strolls in twos or threes. Interestingly, as I breeze past them, the most common topics among the wise womenfolks are of children and grandchildren while the wise menfolks, the government and their investments. The more heated the conversation gets the longer they walk. Sometimes, this progress to a hearty breakfast at the foodcourt which is just within walking distance. At the end of the session, a load off the chest and a good exercise of the mind body and soul.
Friday, October 24, 2008
Tuesday, October 21, 2008
AppleGoodness
Not swayed by years of studying in a catholic school, listening to biblical stories, singing soothing hymns nor the gentle persuasion of the staunch other half. Still faithfully accompanying spouse to the weekly bible study, to church, the gatherings of the fellow believers and yet......
In turn, he spend many hours doing good to his fellow men. Rarely turning down an opportunity to help when it comes a knocking. In his hours of need, it's these good deeds that gives comfort, believing
"Do unto others as you wish them do onto you" What matters most is not the faith one believes in but the goodness and the compassion to god's creation.
Saturday, October 18, 2008
NextDoor
Most of our forefathers arrived here for the same reason. Many with just a shirt on their back. Amongst them the good, the bad, the ugly. Together their determination and hardwork many a times in the most punishing condition, we are where and who we are today. The migrants who, in this age and time are referred as foreign labourers. Today, we depend on them to do the good, the bad and the ugly of the work descriptions. Yet, most are not able to accept them living amongst (link to the artical from ST) as a few black sheeps have made the rest a menace to the neighbours. Their presence may spoil the safe, tranquil image of the neighbourhood. I wonder what they think of our perceptions of them.
Monday, October 06, 2008
Hurdles
It's just less than two weeks to major exams for many. The primary 6 has started with the 1st paper, english on friday last week. Today, youngest told me that the PSLE mathematic papers must have been very tough for she witness few girls in tears coming out of the hall after the exam, while she was having her recess. This is giving her the jitters as she will be sitting for her Primary School Leaving Exam this time next year. This is the beginning of the many hurdles in life she must face to get on to the next phase and the next. Eldest sigh! Remembering the days when she too was fretting over this and hoping the exam would be over as soon as possible. Then it's Yippee!!!! it's over. A ton of Bricks of the shoulder. It did and now in less than 3 weeks she will be sitting for another major exam. 'sigh'
Sunday, October 05, 2008
Taking charge
Looking at the handsome young man walked down the isle with his ravishing bride by his side, memories of his childhood flooded back. Later, during dinner, mum related his story.
He was the youngest of the 5 boys. His mother was never home. His Dad would come home in the wee hours of the morning very drunk and violent towards the children and wife. To keep her sanity, his mother spent most of her waking hours at the mahjong tables while children were left to their own antics. The maids took care of the children's needs. One morning, at the age of 6, running a high fever, he not find mum nor the maid in the big shop house. He helped himself with the medication that was meant for his brother. The next day, he walked over to 4th aunt's house and asked if he could stay with her. Now 4th aunt had been married for many years but childless, doted on him. Gladly 4th aunt welcomed him.
A week later, at the tender age of only 6, he proudly declared to everyone that from that day forth he is the son of 4th aunt. His parents, too engrossed with their own busy life to care. Besides they already had 4 other boys. Moreover, 4th aunt was just two doors away for the row of shophouses. This was 1960s in a town situated in the jungles of Pahang.
He excelled in studies and furthered his education in Singapore. Graduating from NUS, with a degree in law. Went back to his hometown years later, to get the blessing from his two sets of parents for his marriage. However, his relationship with his natural parents were strained. Apart from the customary greeting, they hardly speak.
Friday, October 03, 2008
Far and Away
Her mother was from a small town somewhere north of the peninsular. At the age of 34 she finally seattled down with, through introduction from friends, a gentleman working in Singapore. Her priority was to start a family and within a year, adorable baby Karen arrived. Tough time for mother, as babe was constantly having coughs and colds. To aggravate the matter, little Karen was suffering from constant asthma attack. Her mother decided something has to been done to prevent further deterioration of her health. The windows in the apartment shut tight to keep the dust out. Soft toys were not allowed. No cold drinks, ice cream, fruits nor chocolate. Fast food was not on the eat-out menu.. Outing only if it's conducted by the kindergarten or later, the schools. Dad did not agreed to these arrangements but could do nothing. Soft spoken and easy going he kept quiet. Some nights upon returning home, he sees little 5 year old Karen in tears trying to finish pages and pages of chinese character writing, he would sit down and finish it for her. Without mum knowing of course. As mum did not have a good education, she took it upon her to see that little Karen excel in her studies. CCA? Librarian. Tuition and doing revision books filled her childhood and teenage years. Dad would quietly take her and sister out for an ice cream at the park or to the mall for a popcorn movie treat, much to mum's displeasure. From photos taken, one could see, who Karen loved more.
Mum's effort paid off. She was accepted into NTU and at the aged of 21 graduated with a degree in Accountancy. That same year, she got married and together with her husband and his family migrated to New Zealand.
Dad heartbroken to see his little Karen leave. Seems like only yesterday that she was a helpless babe in his arms. I believed at the bottom of his heart, he would have wished Karen all the happiness and a lifetime of adventure and living in her new life.
Tuesday, September 30, 2008
Still learning
Seeing more of eldest these days as she spend most of her time at home studying before the 'A' begins in Nov. In one of the mum and daugther chat she told me that most of her friends envy her. At 17 and 18, many of her girlfriends do get serious dressing down, nagging or worst still caning when their exam results are not up to expectation. I beg to differ. At 17, eldest is as tall if not taller than me. I can see and I know how much effort she puts into her studies. She spent most of her time at home since her CCA came to a halt. Her only de-stressing pastime is watching her favourite taiwanese serials for an hour or two. She tries her best, and I believe that words of encouragements and comfort are far more effective.
Son will be sitting for his 'O' level this Nov too. Was very harsh on him as I felt he was not focused. Then, it dawn on me. He is trying his best in school. From the time he leaves home at 6.30am till 4pm when he returns, too exhausted to expect him to sit and study. He too needs time to destress. Last thing he needs is a nagging mum. Every child is unique in their ablities, capabilities and character. Every professional has a basic degree of sort but there's none for being a good parent. I am learning every day.
Son will be sitting for his 'O' level this Nov too. Was very harsh on him as I felt he was not focused. Then, it dawn on me. He is trying his best in school. From the time he leaves home at 6.30am till 4pm when he returns, too exhausted to expect him to sit and study. He too needs time to destress. Last thing he needs is a nagging mum. Every child is unique in their ablities, capabilities and character. Every professional has a basic degree of sort but there's none for being a good parent. I am learning every day.
Monday, September 29, 2008
Singapore Formula 1
When I heard that The First F1 night race to be held here in Singapore, it did not register any excitement. The game of the rich and famous.
However, last night, children and I tuned into the live telecast of the race, we had a good time watching the toy like F1 zzzzzzzzzooming around the circuit. More when watching the rest of the behind the scene team work in flurry to change the tyres and refuel in 4 to 6 seconds flat. The most exciting must have been, when the Ferrari driven by Massa sped off then realised the fuel nozzle still intact. Losing precious seconds which cause him to drop from 1st placing to 13th. Alonso, due to technical problem on this Renault during the placing round on saturday, caused his F1 to stop dead on the track, putting him in the 15th placing. He was deflated "The race is lost. You can't overtake here and I'm starting from 15th. so I wil be going out just to lap the track, but it's over already" quoted from him after his race on saturday. Sometimes, a little miracle and little luck changes one's fortune. Unfortunate crash by his teamate, the costly mistake by Massa, confusion and confidence shaken, Alonso sped into 1st position from lap 33 and all the way to the final 61st lap!!!
A lesson for us all. Never say die always say try.
Yes, it's an exciting race.
Wednesday, September 24, 2008
Giving Blood
The first time I donated was 20 years ago. Last saturday was the 2nd time . Painless and for a good cause. Took youngest with me so that she would be expose to the many ways of giving. Charity comes in many forms. Some donate money. Others, their boundless energy, time, skill and knowledge.
Much has changed since the my first experience. 40 odd questions plus 6 more supplementary questions on the recent outbreak of Chikungunya, Density and pressure checked, I was ready. The equipments used were mostly all disposable. In less then 10 minutes, the pouch was filled. Youngest was squirmished but I reassured her it was painless. She got to keep the pressure ball.
Monday, September 22, 2008
All things NiuNai
Suddenly it dawn on many. All diary product, including biscuits(using butter, milk powder) and chocolates and confectioneries made in factories located in China have a great possiblity of being tainted with the melamine toxic. This includes popular brand hershey, that fills nearly half the shelves in the chocolate and confectionery section with Mars bar, M&Ms, Kisses, Kitkats..........
In Singapore. the advise here is, read the label. If it's from China, refrain from consuming. Avoid cheap food stuff.
In Singapore. the advise here is, read the label. If it's from China, refrain from consuming. Avoid cheap food stuff.
Maybe now my children will understand. I have always been against them eating snacks and sweets from unknown brand. It's not being petty but it's the additives especially colouring and flavoring that I don't trust. Now even brands such as Nabiscos, hersheys, Mentos by Perfetti Van Melle are questionable.
Friday, September 19, 2008
Crumbling wall
Dear Main Street: A Letter of Explanation From Wall Street
Posted by WSJ Deal Journal
Dear Main Street,
Are you trying to make sense of what’s happening here on Wall Street?
Don’t worry–you aren’t alone. A lot of people even here are trying to figure that out. It isn’t that complicated, but Wall Street is so full of mumbo jumbo that it’s easy to get confused–or bored.
Say “collateralized mortgage obligation” a dozen times and see if you can stay awake.
Stick with me, though, Main Street and I’ll explain what’s going on here in New York.
Believe it or not, you’ve seen this movie before. And I don’t mean, “It’s A Wonderful Life,” though that movie isn’t far from the mark.
What’s going on is a classic industry shakeout–not all that different from the shake-out of the American steel or auto industries over the past half century. Just in a much shorter time frame.In just nine months, we have gone from five big, independent Wall Street brokers to only two–Morgan Stanley and Goldman Sachs.
The government took over Fannie Mae and Freddie Mac, the country’s largest mortgage companies, a bit more than a week ago.
And just Tuesday, we nationalized AIG, the world’s largest insurer.
Of course, consolidation inevitably produces winners and losers. Lehman Brothers, the fourth largest US broker, is a loser. It went bankrupt two days ago.
Bank of America is a winner. It bought brokerage Merrill Lynch three days ago and is now our nation’s largest financial institution.
That’s a lot of change in a not a lot of time.
And when there’s change, there’s uncertainty. Today, for example, we still don’t know whether Washington Mutual, the largest U.S. savings & loan, will stay independent.
Uncertainty isn’t good for any business, as it destroys confidence. It is especially bad for our financial system, because the system runs entirely on confidence. I lend you money confident that you will pay me back. If I don’t have confidence in you, I won’t lend.
Which is just like Wall Street today. Our nation’s financial institutions don’t really trust each other. And for good reason.
In all, about $2 trillion dollars of lower quality mortgages are spread about our financial system. Many of these are now in default which threatens the banks that hold them.
And of course the lack of trust spirals. Less lending by banks to each other, less lending to Main Street’s companies and less lending to you. In the end, the money’s not there for you to get a mortgage or auto loan.
And you account for 70% of the economy. So when the money isn’t there, that’s bad for everybody. Without credit, you get a crisis–a credit crisis.
Of course, we deserve heaps and heaps of blame. Wall Street took the mortgages, sliced and diced them a hundred ways, sold and traded them. We took a nice cut along the way, blissfully oblivious to the risks.
We do have a remarkable talent for cooking up crazy get-rich schemes. Remember the Internet bubble? That was less than a decade ago.
But Main Street, you’re also to blame.
Recall the hundreds of billions in bad mortgages that are now killing Wall Street? That was money lent to you, Main Street, for homes and condos many of you could not afford.
And ironically, it is now your money that will be used to repay those dud mortgages because we on Wall Street are running out of money.
The government takeovers of AIG and Fannie and Freddie? That’s your money. J.P. Morgan’s buyout of broker Bear Stearns last March was also your money,
You might not like it. We on Wall Street may not like it. And even the politicians in Washington may not like it.
But nobody has a choice — unless you happen to have an odd yearning to live in a barter economy.
So Main Street, our crisis is unfortunately your crisis. We made the mess together and now we pay for it together.
The mergers, government takeovers and bankruptcies that will continue to sweep our financial system are a good sign. It means that we are fixing ourselves. Albeit at gunpoint.
Isn’t it strange the way our free market works? The government saves Wall Street — and you Main Street foot the bill.
My advice? Save this letter and show it next time we all embark on another stupid misadventure.
Sincerely,Wall Street
Posted by WSJ Deal Journal
Dear Main Street,
Are you trying to make sense of what’s happening here on Wall Street?
Don’t worry–you aren’t alone. A lot of people even here are trying to figure that out. It isn’t that complicated, but Wall Street is so full of mumbo jumbo that it’s easy to get confused–or bored.
Say “collateralized mortgage obligation” a dozen times and see if you can stay awake.
Stick with me, though, Main Street and I’ll explain what’s going on here in New York.
Believe it or not, you’ve seen this movie before. And I don’t mean, “It’s A Wonderful Life,” though that movie isn’t far from the mark.
What’s going on is a classic industry shakeout–not all that different from the shake-out of the American steel or auto industries over the past half century. Just in a much shorter time frame.In just nine months, we have gone from five big, independent Wall Street brokers to only two–Morgan Stanley and Goldman Sachs.
The government took over Fannie Mae and Freddie Mac, the country’s largest mortgage companies, a bit more than a week ago.
And just Tuesday, we nationalized AIG, the world’s largest insurer.
Of course, consolidation inevitably produces winners and losers. Lehman Brothers, the fourth largest US broker, is a loser. It went bankrupt two days ago.
Bank of America is a winner. It bought brokerage Merrill Lynch three days ago and is now our nation’s largest financial institution.
That’s a lot of change in a not a lot of time.
And when there’s change, there’s uncertainty. Today, for example, we still don’t know whether Washington Mutual, the largest U.S. savings & loan, will stay independent.
Uncertainty isn’t good for any business, as it destroys confidence. It is especially bad for our financial system, because the system runs entirely on confidence. I lend you money confident that you will pay me back. If I don’t have confidence in you, I won’t lend.
Which is just like Wall Street today. Our nation’s financial institutions don’t really trust each other. And for good reason.
In all, about $2 trillion dollars of lower quality mortgages are spread about our financial system. Many of these are now in default which threatens the banks that hold them.
And of course the lack of trust spirals. Less lending by banks to each other, less lending to Main Street’s companies and less lending to you. In the end, the money’s not there for you to get a mortgage or auto loan.
And you account for 70% of the economy. So when the money isn’t there, that’s bad for everybody. Without credit, you get a crisis–a credit crisis.
Of course, we deserve heaps and heaps of blame. Wall Street took the mortgages, sliced and diced them a hundred ways, sold and traded them. We took a nice cut along the way, blissfully oblivious to the risks.
We do have a remarkable talent for cooking up crazy get-rich schemes. Remember the Internet bubble? That was less than a decade ago.
But Main Street, you’re also to blame.
Recall the hundreds of billions in bad mortgages that are now killing Wall Street? That was money lent to you, Main Street, for homes and condos many of you could not afford.
And ironically, it is now your money that will be used to repay those dud mortgages because we on Wall Street are running out of money.
The government takeovers of AIG and Fannie and Freddie? That’s your money. J.P. Morgan’s buyout of broker Bear Stearns last March was also your money,
You might not like it. We on Wall Street may not like it. And even the politicians in Washington may not like it.
But nobody has a choice — unless you happen to have an odd yearning to live in a barter economy.
So Main Street, our crisis is unfortunately your crisis. We made the mess together and now we pay for it together.
The mergers, government takeovers and bankruptcies that will continue to sweep our financial system are a good sign. It means that we are fixing ourselves. Albeit at gunpoint.
Isn’t it strange the way our free market works? The government saves Wall Street — and you Main Street foot the bill.
My advice? Save this letter and show it next time we all embark on another stupid misadventure.
Sincerely,Wall Street
Thursday, September 18, 2008
Hunger sauce
Knowing too much and yet not enough is dangerous. What were they thinking? How could they jeopardize the life of newborns to make a quick profit.
Maybe now, more will seriously consider giving the best a mother can offer. Not enriched nor fortified but just nutrious life giving milk formulated just for infant. Priceless and rare.
Monday, September 15, 2008
Spinning top
Sunday, September 14, 2008
Pillow fights
As toddlers, when siblings have pillow fights, fight over toys and candies, they bear no grudges. In a blink they're chatting and laughing again.
As teenagers, when siblings fight over trivials, I had to step in and mediate. I have seen and read enough to realise that if left unsettled, they might grow up despising each other. When disputes erupt, I would constantly question myself. Is mediation needed? Would the situation exacerbate. Girlfriend confided that, mum favours her sister who is smarter, earning more, than her. As a result both can't stand the sight of each other. Back stabbing and bad mouthing. Sibling rivalry ensue. Worst fighting over family matters and dragging dirty linens into public.
As teenagers, when siblings fight over trivials, I had to step in and mediate. I have seen and read enough to realise that if left unsettled, they might grow up despising each other. When disputes erupt, I would constantly question myself. Is mediation needed? Would the situation exacerbate. Girlfriend confided that, mum favours her sister who is smarter, earning more, than her. As a result both can't stand the sight of each other. Back stabbing and bad mouthing. Sibling rivalry ensue. Worst fighting over family matters and dragging dirty linens into public.
I want my 3 children to realised that at the end of the day, when we parents are no longer around, it's siblings that will be around for each other. As we break into smaller family nucleus, they have only themselves to call upon as Family.
Thursday, September 11, 2008
Laurentia Tan
Her sheer determination is an inspiration. The more I read, the more, I believe that each child is special. He or she might not be an intellectual to cure or run a financial instituition but they have other special abilities waiting to be discover. It's up to the parents to give them this opportunity, encourage and nurture.
Michael Phleps an ADHD found swimming to be an outlet for his energy. His family supported.
Jamie Oliver never liked studying but look where he is today following his passion.
Michael Phleps an ADHD found swimming to be an outlet for his energy. His family supported.
Jamie Oliver never liked studying but look where he is today following his passion.
Monday, September 08, 2008
Theresa Goh
Theresa Goh holds the world record for the 50m and 200m breaststroke may just do Singapore proud at the Beijing Paralympics this week.
Thursday, September 04, 2008
One week school break
It's the one week school break. Being in the midst of the 'A' level preliminary exam, eldest is on self imposed house arrest. While son, dragging his feet every morning to attend school at 9a.m. Youngest, the happiest. Just returned from 3 days of absailing, kayaking, ziplining and flying foxing. The Primary 5 Adventure Camp at Changi. First time she spent 24 hours with her friends. Eating, sleeping and communal bathing. Arrived home this afternoon, exhausted but excited. Though it has been cloudy and raining intermittently for the past few days, she came back, tanned. After unpacking and giving her a good scrub, she slept for the next 2 hours waking up for dinner, excited chatters with sister then at 9pm, slept.
Truly an exciting break this has been. For her, that is.
Wednesday, September 03, 2008
BreadTalk StaleTalk
Freshly baked, creamed and a quick roll on the bed of floss and Voila!! The Delectable Floss Bun which made BreadTalk known. Now, my latest favourite from BreadTalk, Greentea redbean Loaf. Moist and sweet to just eat it on it's own, until last friday. Had bought a loaf and upon reaching home had one slice for tea. Startled. Slightly dry not as fresh and moist of a newly baked loaf. Bread crumbs dotted my table as I bite into my bread. Daughter came home later, had a slice. One bite, and her conclusion was the same. Dissapointed. Had to quickly polish off the whole loaf before the weekend was over.
Friday, August 29, 2008
Good Singlish
Means proper grammatically correct English sentences With a singapore twang for that singapore touch. That makes english different from a malay, an Indian, HongKonger or a Japanese speaker. Eldest actually enjoys listening to how indian speaks english with a delightful indian twang. I find it challenging listening English spoken by native japanese. A HongKonger has such a heavy cantonese twang when speaking english that it sometimes sounds like it's english cantonese. If you know what I mean. That is how we localise english to make it our own NOT speaking translated chinese in English.
Thursday, August 28, 2008
First Sight
Discussion on CNA last night, why are Sporean women not getting married. 5 women of different marital status. 3 single, a married no child and a divorcee with children. Most singles find hard to take time and find a place to mingle with the correct crowd. Meaning with singles and available. Eldest concluded that the most ideal time to meet and mingle must be during the uni years. It would be interesting to know how the many many married couples out there met.
Met MDH at a family dinner with my dad's business friend. He, just returned from UK and I just arrived to attend uni. He was commuting between Spore and KL due to work commitment, his mum, out of courtesy, suggested he takes me around when he comes back for the weekends. Did not see him again untill 2 months later for a first date. 25 years later, we are proud parents of two daughters and a son.
How did you meet your spouse?
Wednesday, August 27, 2008
Mum's not cooking
No doubt when women cook, they cook up a storm. Check around the blogsite and mouth watering posting of delectable pictures simply salivates the mouth. However, exactly how many women actually rush home after work and prepare a home cook meal? This was the topic discussed over the air on a malaysian radio this morning. About 2 in 10 would. The rest due to long working hours, simply eat out or pack home. After a long day slogging, to rush back don the apron and whip up 2 or 3 dishes. And to have the dish filled-sink waiting is very daunting.
In keeping with times, one of the home science subject should be, Cooking simple one pot dishes and storage. A one pot nutritious dish prepared during the weekend and packed into the fridge to be reheated and consumed during the week is definately healthier than chicken rice 4 times a week. The rat race, no doubt has made us materially richer but are we physically, mentally healthier?
In keeping with times, one of the home science subject should be, Cooking simple one pot dishes and storage. A one pot nutritious dish prepared during the weekend and packed into the fridge to be reheated and consumed during the week is definately healthier than chicken rice 4 times a week. The rat race, no doubt has made us materially richer but are we physically, mentally healthier?
Monday, August 25, 2008
Windfall
6 months before getting married in 2002 they bought an apartment around River Valley vicinity for S$800,000. A cozy home a stone throw from parents and work place. 4 years later, lo and behold, a cool SS$3.2M for the apartment as it sucessfully got enbloc. Now, it's one row of houses from mum and dad, as they just closed a S$2.3M deal for a terrace house along Bukit Timah Road next to the Spore Chinese Girl School. Just the school for their two girls. Money makes money and sometimes without even trying too hard.
Saturday, August 23, 2008
The reason
Most touched by the letter written to forum in the Strait times, on the 22nd Aug:
" I am a Singaporean studying at the Monash University in Melbourne. By no means am I from an affluent background. The only reason I can pay my school fees, and have food and accommodation is because of my parents.
My mother had the luxury(if I may put it) to be a stay-home mum when I was born. But, out of necessity, she had to join my father and become part of the workforce after my brother was born three years later.
I think my mother would have loved to stay home and watch both of us grow up, witness our developmental milestones and participate fully in our growing up years.
My youngest sister, nine years younger than me, saw even less of mummy because mummy had to work.
The idea of my mother having to work did not sit well with me. Even now, I recall throwing tantrums in the morning and standing tearfully at the gate, watching her leave for work with dad.
My grandmother had to parctically pry me away from mum whose business shirt I creased and streaked with my tears.
With all the Online Forum letters taht I have been reading, I want my mother to know that I love her, even though she had no government-sanctioned maternity leave, no baby bonus and no incentive to have me. She had all my attention as she prepared my lunchbox in her office attire, all my admiration when she sat through the night with me, despite a long day at work, while I did my prmary school problem sums; and all of my love when she picked me up from school rehearsals with a bun in her hand, just in case I was hungry.
I am all I am because of my mother. And now, it really doesn't matter if you were a stay- home mum or a working mum, you were and always will be, the best mum." Yick Wan Jie(Miss)
The reason for having a child must be one of love and fulfilment not of incentives.
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