Tuesday, July 06, 2010

famiLEE LEEgime's ATM failed islandwide, worse confidence impact than 2004 power failure

famiLEE LEEgime had always been expected to uphold public confidence especially regarding funds & assets to be SAFE within this red dot. The fact these day strongly suggested reversed. famiLEE LEEgime's online banking & cash machines failed islandwide yesterday for 7 hours. After 2 incredible floods in many places within this red dot, these all happened within the time span of a month.

Related ST News URL

A TECHNICAL glitch crippled DBS' banking systems on Monday morning, triggering an island-wide breakdown of over 1,000 DBS and POSB automated teller machines (ATMs).

For over seven hours, the bank's internet and mobile banking system was also disrupted, affecting NETs and credit card transactions which had to be rejected.

It is highly ironical for Old Dog Thief's famiLEE LEEgime, for their flagship bank DBS to fail like this as he proclaimed to be World Class Financial Hub - which is well know also as a Black Money and Blood Money Laundering Hub. In a another scandal involving famiLEE LEEgime's banks thousands of account holders lost millions of dollars are they listened to famiLEE LEEgime's banks and purchase from the banks Lehman Brother's bonds. There goes the "Your Monies Are Safe Here in Singapore" Myth.

Orchard Road's flood is also a nail in the coffin for famiLEE LEEgime's false reputation of keeping high price luxury property investments safe.

Approximately a week ago, Old Dog Thief Lee Kuan Yew just opened his big mouth on Merging The Singaporean Banks, which he said Singapore is too small to have 3 local banks:

MM Lee says S'pore banks may need to consolidate to expand overseas

No plans for local banks consolidation: MAS

It is LKy's Ass Luck that within just about a week of his Satellite Vision Driven bank merger talks, DBS's ATM & Online Banking failed totally while the other 2 local banks AMTs and Online banking survived. So what is the Old Dog going to say when entire red dot's online & ATM all failed together under one single bank?

Brutally the facts proved the Old Dog Thief Lee Kuan Yew's myopic vision yesterday.

And this is still not the big question today.

There are many banks and giant corporations' failure in US & EU in the recent year of economic crisis, even governments of 46 of 50 US states are broke, and many governments in EU are going broke. Singaporean banks are at no exemptions from risk.

The bigger question is what is the consequence to Singapore after merger when the only local bank left failed. And I highlight the historic fact that Lee Kuan Yew's own brother's TAT LEE BANK failed and he forced Keppel Bank to merge with Tat Lee. DBS was on the failing edge before, and then famiLEE LEEgime then forced POSB to be merged with DBS to safe it.

I want to point out that under Corrupted & Incompetent governance of famiLEE LEEgime, Singaporean banks are at higher risks of failure than many other countries, contrary to popularly believed myths.

Tiny Red Dot will be in deeper shit than Dubai, and Iceland, when that day arrived, thanks very much to Corrupted & Incompetent famiLEE LEEgime.

By then it is nothing comparable to this ATM failure, it is Singapore dollars become worthless recycle paper. CPF is a grand Ponzi scheme and entire famiLEE LEEgime's GIC Temasek is no difference from Lehman, Enron, WorldCom & Xerox etc, it is just a huge falsehood and giant collection of frauds. The wealthy look is alike Emperor's New Robes, and it is indeed just emptiness wrapped by a thin layer of gold foil.

Before yesterday, DBS's ATM network looked rock solid and had been perceived as some award winning examples bragged to be some world's best infrastructure. The failure exposed the myth. The flood also shattered the highly proclaimed myth. The island-wide power failure also shattered yet another shamelessly bragged falsehood. The falsely gained confidence on famiLEE LEEgime is now shaken beyond doubt.

When Kota Tingi Malaysia was flooded famiLEE LEEgime said very arrogantly that it will never happen in Singapore. But Ass Loong Son just told Singaporeans 2 weeks ago that it is impossible to expect to be flood-free. They will only admit truths after they had became abundantly clear to the world.

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