Chapter 18

Just got back from the dinner & dance. As usual, the food is just as lousy the previous time round. Lucky draw, supposed to be so unique to Singapore culture is pretty attractive. But well, I guess my lucky draw luck has just ran out ever since I was still a kid. Only struck once through my 28 years of existence. No luck for lottery as well. Been thinking about the recent financial turmoil that we are currently going through. Should the blame be just on those folks whom sold the products? Personally, I felt that the banks and institutions have a very large part in this.

1) There aint enough governance on needs based selling. (Banks are basically just pushing for figures)
2) I strongly stand by the view that the commission scheme should be scrapped in return for advisory fee and maybe if the product performs well, the advisor could get a cut from it.
3) Its all about greed ultimately. (I was working for a bank previously and the profit targetting is just so immense that the human factor is gone completely.)

Ultimately, if nothing gets changed, there will be a similar crisis in the future. Sometimes, we just need to take a step back and look at the big picture instead of all the usual crap, gross profit, profit after tax, sales volume, market share. How about looking at customer satisfaction, assets generated for customers and ultimately ethics.

Enough of this blabbering, then again I never felt so motivated to work after 3 months of unemployment. For the first time, I really learn my lesson of saving for rainy days. Never spend beyond your means. For now, would be just work , more work and hard work.