Why rich Malaysians are very rich and the poor, very poor. • The Ant Daily | Diligently Digging Deeper - theantdaily/Main/Why-rich-Malaysians-are-very-rich-and-the-poor-very-poor • The recent case of the six major banks fined a record total US$4.3 billion (RM14 billion) for foreign exchange rate-rigging tells all. • When banks, such as HSBC, Royal Bank of Scotland, Swiss bank UBS and US banks JP Morgan Chase, Citibank and Bank of America had to resort to cheating, common sense tells that all is not well in the global economy. • Its certainly difficult for banks to continue to meet profit targets without resorting to exploitation when the majority of the people are getting poorer. • Even commercial banks in Malaysia have tightened their regulations in approving loans, especially for housing. .
Posted on: Tue, 25 Nov 2014 18:51:41 +0000
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