Wednesday, September 8, 2010

malaysiakini Readers Respond to Another RM5bil Hand-outs

So the Bankrupsi Negara regime still thinks it can turn against the tide by throwing another RM5bil of taxpayers funds for that mysterious 30% Bumi equity so enamoured by Malaysian pirates to deplete Malaysia's coffers.

You can read malaysiakini's readers latest riposte in What's another RM5 bil after wasting RM50 bil? . One of the justifications for this fund was to enable some to cash out their shares in order to start a business. Unless the shares are being bought above market rates, these people should just sell their shares in the open market.
Why should the government use public money to bail out incompetent investors? These people should buy Amanah Saham unit trusts and the government should use this type of money to invest in good companies with good growth potential.
Investing in the share market is for the medium to long term; at least 3 to 5 years and there is no magic formula.
Already RM50bil has been lost on account of selling off Bumi allocated shares and hence frustrating the 30% target. We cannot support this kind of financial indiscipline.

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