Covering up for Azmin Ali in Plan C?

Ex-DoJ Lawyer Says Riza Aziz Is Not Guilty

(Malaysia Today) – Matthew Schwartz from the law firm Boies Schiller Flexner LLP, an American law firm founded by David Boies and Jonathan D. Schiller in 1997, says that Riza Aziz is innocent of the charges against him.
“Today’s charges are a repeat of civil allegations that had previously been resolved with the US government without any admission or finding of wrongdoing, and which resulted in $60 million being given to Malaysia,” said Schwartz.
Schwartz added, “It is an absolute travesty that Riza has become collateral damage in a political crusade to jail his step-father. When the actual evidence comes out, it will be clear that he has done nothing wrong.”
Schwartz’s expertise is in government and internal investigations, white collar defence, regulatory compliance, and complex civil litigation. Schwartz has been described as a “buttoned-up assassin in the courtroom” and is praised for his “laser-like focus and precision.”
Forbes (December 2014) said Schwartz possesses the consistent ability to take knotty issues and distilling them to their essence. He has first-chaired numerous jury and non-jury trials and personally argued more than a dozen federal appeals.
Boies Schiller Flexner’s wesbite says, “From 2005 to 2015, Matthew was a federal prosecutor in the Southern District of New York. As a senior member of that office’s Securities and Commodities Fraud Task Force, he led a number of high-profile matters, including the investigations and deferred prosecution agreements with JPMorgan and Commerzbank AG on BSA/AML charges; the investigation and prosecutions related to the “London Whale” trades; and all aspects of the government’s investigation of Bernard L. Madoff Investment Securities. He conducted investigations in parallel with the SEC, CFTC, OCC, Federal Reserve Board, FinCEN, OFAC, and PCAOB; state Attorneys General and other regulators, such as the New York State Department of Financial Services; and foreign regulators and law enforcement, such as the UK Financial Conduct Authority.”
**************************************************************
MAHATHIR IS WASTING OUR RESOURCES AND ENERGY FOR A CASE THAT STANDS TO LOSE.
MAHATHIR KNOWS
LATHEEFA KOYA KNOWS
IGP KNOWS
MALAYSIANS WHO UNDERSTAND WHAT THEY READ KNOW
THIS PARTICULAR DRAMA IS TO DIVERT THE TRUTH ABOUT AZMIN ALI SEX VIDEO AND BILLIONS IN SWISS BANK
WHAT THIS PROOF IS THAT BERSATU HAS NO LEADERS WHO CAN HELP MAHATHIR AND DAIM.  BY PROTECTING AND COVERING UP THE SINS OF AZMIN ALI, MAHATHIR HOPE TO KEEP HIS CHILDREN RICH.
IF ONE IS ABLE TO READ AND RESEARCH MORE THEN THE TRUTH ABOUT THE SHIFTING OF WEALTH AND ASSETS BELONGING TO MALAYSIANS TO MAHATHIR AND DAIM IS VERY CLEAR. THE NEED OF HAVING A PARIAH DOG LIKE AZMIN IS TO SERVE THE INTEREST OF THE FAMILIES OF MAHATHIR AND DAIM AND TITBITS TO CRONIES.
IF ANWAR BECOMES THE PRIME MINISTER, THE PANDORA BOX OF MAHATHIR AND DAIM WILL BE EVIDENCES OF THEIR PAST SINS.

Azmin Ali’s RM100 million carrot

LIFE IS GOOD
LIFE IS BEAUTIFUL
BUT HOW MANY YOUNG MAN IS WILLING TO LOSE DIGNITY
TODAY THE LAST NEGOTIATE STAND AT RM100 MILLION TO CHANGE STORY
WHAT MAHATHIR WANTS, HE GETS
SO BUSINESSMEN AND UEM HAVE TO OBLIGE OTHERWISE THEY HAVE TO WAIT FOR THE NEXT PRIME MINISTER TO GET THE BIG PROJECTS WHICH THEY MAY NEVER GET
BY NOW EVERYONE HAS COME TO A CONCLUSION THAT IF ANWAR AND AZMIN WERE TO SUCK EACH OTHER’S COCK, ANWAR WILL GO TO JAIL WHILE AZMIN ALI REMAIN  AS PRIME MINISTER IN WAITING
AND THAT IS NOT A JOKE
MAHATHIR WANTS AZMIN ALI TO SETTLE A DEAL WITH HAZIQ
THE PRICE
RM100 MILLION 
BUT ON TWO CONDITIONS
FIRST THE SEX SCENE IS FAKE
SECOND IT WAS ANWAR THAT SET IT UP
NOW THE STORY FROM AZMIN ALI’S PEOPLE IS THAT MAHATHIR WILL MAKE A BIG ANNOUNCEMENT BEFORE AUGUST 2019
YES, THIS TIME AZMIN ALI CAN SHOW HIS MIDDLE FINGER TO ANWAR
BECAUSE MAHATHIR STILL WANTS AZMIN ALI TO BE THE DEPUTY PRIME MINISTER BEFORE AUGUST.
MALAYSIANS BY NOW UNDERSTAND THE TRUTH ABOUT ANWAR’S SODOMY 1 AND 2.
IT IS TIME MAHATHIR AND DAIM APOLOGIZES TO ANWAR AND HIS FAMILY AND THOSE VICTIMS WHO HAD GUNS POINTED AT THEIR HEADS.

Yesterday – Movie Review


You want the movie to succeed. After all its The Beatles. After all, we have Boyle and Curtis helming it. Well, it seems like talented musicians/performers’ biopics are the way to go. It is getting a genre of their own. 

We had Queen, soon to be followed by Rocketman (Elton John), Blinded By The Light (Bruce Springsteen), Janis (Janis Joplin), Judy (Judy Garland) … see a trend here. 

However, Yesterday was not really about The Beatles, it was asking the question what if The Beatles never existed. A brilliant coffee shop topic.

The movie’s premise was simple enough. What if you are the only person who knows about The Beatles and you are an OK battling singer-songwriter. The concept was strong enough. You can cram all the jokes in over what would not exist without The Beatles: Oasis was a given..lol, but some other things I am not so sure.

I think the writers had a big problem with how to end the story. It was a bit forced and left many questions unanswered.

The nice twist was that there were two other people on earth who also knew about The Beatles’ songs. It could have gone formulaic in a truth vs evil scenario, but it didn’t and for very good reasons. The two basically were heartened that The Beatles songs live on somewhat and not just in their minds.

Enjoy the movie, stop your logical brain for a while. Because once you start asking questions:
– how and why did the memory of The Beatles only that got erased?
– if nobody knew about the songs, did they (members of the band) even existed, if they did what were they doing with their lives?
– the assumption that songs which were introduced in the 60s would have the SAME reception if it was released today

The Beatles are what they are now, not just because of the outstanding and timeless songs. The “new energy”, the shift in popular culture, their influence on one or two generations of musicians that followed them, their personality and the issues they took up – these are among the many things that make The Beatles what they are. 

The Beatles were somewhat responsible for moving popular culture from Wine, Women & Song to Sex, Drugs & Rock n Roll (for better or for worse). Hence to presume that just hearing their songs for the first in our present culture would yield the same results and aftershocks, would be very presumptuous.

Still, it was a wonderful tribute to The Beatles, just to hear some of the songs being deftly sung in a cinema revealed so much deeper beauty and talent within the songs, in particular: The Long & Winding Road and Yesterday.

If you asked me I’d say, Eleanor Rigby, While My Guitar Gently Weeps, Here There Everywhere and I Will as their strongest compositions.

Anyways, do go see the movie, at least the younger folks will get to appreciate that the older folks actually had much better music in their lives.

If I was the director, I will end the movie with a slowed down version of I Will … the simplest of songs but therein lies the genius that is The Beatles.

br />
span style=”font-family: Verdana, sans-serif;”>




Damage control

It is either you have done it or not.

No one is perfect in this world.

What Azmin Ali and Mahathir did in the past, today came back in full blast.

MACC has cleared UEM from issuing the cheque to Azmin Ali.

That is unfair but knowing how the game of politic is played, neither Mahathir, Daim and Azmin can afford to lose this one.  So the whole account with Maybank has been wiped off.

Malaysian authorities are genius when it comes to erasing off details that later leads to crime.

We shall see the events coming soon.

Now after searching high and low for someone that looks like Azmin Ali, PDRM finally found one.
So now an alternative drama is going to show proof that Azmin Ali is innocent (even my shit smells better.)

But forgetting the whole video is available at all porn sites and in Canada.

There is a saying you can ban everything in Malaysia but not in other countries.

The video that is shown overseas are very clear on the features of the two lovers, Azmin Ali and Haziq with a voice recording.

Mahathir, Daim, MACC, PDRM and MCMC are trying their level best to cover up the sex BUT…………………today’s technology is still way above Malaysian standard.

Haziq should be prepare to call in foreign experts if he were to be charge alone.

I never trust Malaysian authorities since the Prime Minister has full control over them.

This is the reason why MACC, AG and PDRM should answer only to Parliament.

Sultans have been bribed. They will do nothing as usual.

Authorities have gun pointed against their head.
SO WHO DARES CHALLENGE AGAINST MAHATHIR AND DAIM.

Warning to Azmin Ali, this is only the beginning of your karma.
You and Zuraida have become arrogant and full of yourself thinking Malaysia is in your palm.

PEOPLE LIKE YOU SHOULD BE PUNISH IN SIMILAR FASHION HOW YOU DISHED TO OTHERS.

YOUR MONEY IN SWISS ACCOUNTS WILL BE REVEAL SOON.Image result for images IGP, Gobind Singh and LateefaImage result for images of latheefaImage result for images of IGP bukit aman
AZMIN ALI’S HOLE IS TOO BIG FOR THESE THREE TO COVER UP.
MAHATHIR AND DAIM SHOULD JUST SHUT UP AND BEG FOR OUR FORGIVENESS.

Vacancy in Economic Ministry

This vacancy is solely for unmarried Malay men who are between 21 to 35 years old.
The person need no experience but must be willing to learn.
The person must be available 24 hours.
The person must possess a driving licence and an International Passport.
The person must have a good command of English to entertain Foreign Delegates.

Benefits

Life Insurance.
Expenses like fuel, entertainment, travelling, food, clothing etc are paid by the Ministry.
A BMW car is available for use in Malaysia.
24 hours police security.
Free high end apartments available to reside.

Require to learn

Just the tip
The up and down
Suck on this
Awesome sauce
Give him a hand
Play Balls
Eye to eye
Two steps forwards and one step backwards

Candidates not too sure where to learn can go to this link:
https://badgirlsbible.com/blowjob-techniques

OR

If the Minister’s body and hands shake upon seeing you then you are sure of getting this blow job.

This vacancy is fully endorse by the Prime Minister of Malaysia.
https://www.straitstimes.com/asia/se-asia/malaysias-pm-mahathir-says-there-is-no-need-for-azmin-to-step-down-over-video-scandal

This is the second time that Dr Mahathir has defended Datuk Seri Azmin's position in the Cabinet. When the scandal broke out earlier this month, he said Mr Azmin does not have to take leave from his post while the authorities investigate the matter.

Is Azmin Ali sucking Mahathir’s cock?

Mahathir and Daim destroyed Anwar and shamed him in public for a make believe Sodomy.
Azmin Ali was caught red handed with Haziq and Mahathir is covering up for him.
Is Azmin Ali sucking Mahathir’s cock since the old man cannot perform any longer?
At his age, the old man must also try having his cock suck to know the sensation.
Azmin Ali is not stupid but arrogant thinking whatever he does he is untouchable.
If one were to notice there is silence on the part of Maybank about UEM giving money to Azmin Ali?
Again this proof UEM does have an old account with Maybank.
I remember Daim mentioning Maybank with Halim Saad.
So how long can Mahathir, MACC and IGP cover up for Azmin Ali?
I am surprise no one is protesting against Azmin Ali instead Zuraida wants Haziq’s head chopped.
Azmin Ali has his sodomy video so what kind of show does Zuraida has with her toy boy?
It is open secret Zuraida gets fuck oversea and who is paying for the toy boy expenses?
WE THE RAKYAT.
SO AZMIN ALI AND ZURAIDA GET FUCK, RAKYAT PAYS.

Image result for IMAGES OF MAHATHIR AND AZMIN ALI
The happy face shows the secret behind.

Azmin Ali had affair with 7 men and 12 women

Of course, the money was given to Umno, but someone, a person, in Umno must receive that money. And these people are Muhyiddin Yassin, Mukhriz Mahathir and Shafie Apdal. Why did Latheefa not reveal the real amount and the names of the people who received the money on behalf of Umno?

THE CORRIDORS OF POWER
Raja Petra Kamarudin
First of all, the list of 41 names that MACC published two days ago is not the complete list. The complete list has about 100 names. The only problem is many from that list of 100 names are Pakatan Harapan people or ex-Barisan Nasional people now defected to Pakatan Harapan. So that is why Latheefa Koya released only 41 names and not the entire list of 100 names.
That is point number one.
Point number two is that list is a very old list, long before GE14. But the MACC could not release it or take action on that list because they cannot prove the money came from 1MDB. They can only prove that the money came from Umno. But then Umno is supposed to own RM100 billion in cash, assets and investments so the party could more than afford to donate all that money, even if it is RM1 billion and not RM265 million as the MACC claims.

Latheefa’s game of distraction has backfired badly and has opened a Pandora’s box

Umno acquired these RM100 billion in cash, assets and investments since the 1980s, which means since the time of Tun Dr Mahathir Mohamad. These cash, assets and investments were not acquired since 2013. That means the money Umno distributed to those 100 people/organisations (41 of them on the MACC list) did not come from 1MDB but were acquired BEFORE the 1MDB issue erupted.
Point number three: the money given to Umno Johor, Umno Kedah and Umno Sabah shows RM677,872, RM1,054,019 and RM1,254,113 respectively. Actually, these state Umnos were given RM50 million each (RM1 million cannot even pay for one division in the state let alone the whole state) and the money was handed to Muhyiddin Yassin, Mukhriz Mahathir and Shafie Apdal (Mukhriz denies this and says he knows nothing: see news item below).

Muhyiddin received RM50 million on behalf of Umno Johor

Of course, the money was given to Umno, but someone, a person, in Umno must receive that money. And these people are Muhyiddin Yassin, Mukhriz Mahathir and Shafie Apdal. Why did Latheefa not reveal the real amount and the names of the people who received the money on behalf of Umno?
From the amount of RM265 million on the list that MACC released, about RM212 million went to Umno. And Najib Tun Razak had already declared way back that the RM2.6 billion he received from the Saudis was to finance political activities, which means he told the truth. And it was not only Umno but also all parties in Barisan Nasional that received financing.
Unfortunately, Latheefa’s attempt to distract Malaysians from the Azmin Ali-Haziq Aziz sex scandal by revealing this list has backfired badly. And now many Pakatan Harapan people are going to be in trouble. The point that the money was not given to Umno but to people representing Umno seems to have been missed by most people. And many of those people are now in Pakatan Harapan.
Bad move, Latheefa.

Mukhriz: Saya tak tahu Umno Kedah dapat dana 1MDB

(Bernama) – Menteri Besar Kedah Mukhriz Mahathir berkata beliau tidak mengetahui mengenai dana yang dikaitkan dengan 1MDB disalurkan kepada Umno Kedah sewaktu memegang jawatan sebagai pengerusi Badan Perhubungan UMNO negeri, sebelum ini.
Katanya, segala urusan berkaitan dana parti diserahkan sepenuhnya kepada Bendahari Umno negeri pada ketika itu iaitu Abdul Azeez Abdul Rahim yang turut menguruskan perbelanjaan dan agihan kepada setiap Umno bahagian di negeri ini.
“Waktu saya jadi Pengerusi Umno negeri, memang ada keperluan perbelanjaan untuk setiap bahagian tetapi saya serah kepada bendahari. Saya tidak tahu apa kaedah yang dia (bendahari) gunakan tetapi peruntukan yang diperoleh itu adalah untuk gerakkan aktiviti di setiap bahagian.
“Selepas itu (peruntukan diperoleh), apa yang berlaku saya tidak tahu tetapi ia langsung tidak libatkan sebarang projek, kontrak atau benda-benda lain,” katanya kepada pemberita selepas merasmikan Hari Belia Negara Peringkat Negeri Kedah di Alor Setar, hari ini.

The police told Dr Mahathir that it is impossible to save Azmin Ali, so all they can do now is to play delay tactics and in the meantime distract the people with the 1MDB issue

Beliau berkata demikian ketika diminta mengulas mengenai langkah Suruhanjaya Pencegahan Rasuah Malaysia (SPRM) memfailkan permohonan perlucuthakan sivil terhadap 41 responden untuk memperoleh semula dana kira-kira RM270 juta yang mempunyai kaitan dengan 1MDB.
Dalam satu kenyataan semalam, Ketua Pesuruhjaya SPRM Latheefa Koya berkata tindakan itu diambil mengikut Akta Pencegahan Pengubahan Wang Haram dan Pencegahan Pembiayaan Keganasan (Amla) di mana suruhanjaya itu percaya wang berkenaan dipindahkan daripada akaun bank bekas perdana menteri Najib Razak.
Kesemua 41 individu dan entiti terbabit termasuk parti politik, yayasan dan syarikat, termasuk bahagian Umno, Parti Rakyat Bersatu Sabah, MCA serta Persatuan Kebajikan Islam dan Dakwah Islamiah Malaysia (Pekida).
Mengulas lanjut, Mukhriz yang kini timbalan presiden Bersatu berkata jika dana diperoleh oleh Umno daripada sumber yang salah, maka parti itu harus memulangkannya semula.
Mukhriz memegang jawatan sebagai pengerusi Badan Perhubungan Umno negeri pada Ogos 2013 dan melepaskan jawatan tersebut pada Februari 2016 selepas meletak jawatan sebagai menteri besar susulan majoriti adun Kedah memutuskan hilang kepercayaan terhadap kepimpinannya.
****************************************************
IGP AND MAHATHIR ARE GOING TO COVER UP AZMIN ALI’S SEX AFFAIR, BUT WHAT HAPPENS WHEN NEW VIDEOS AND PHOTOGRAPH TURN UP?
MANY UMNO MEMBERS RECEIVED 1MDB’S MONEY AND ARE NOW PRIBUMI MEMBERS, WILL MACC AND AG TAKE ACTION OR IS THIS JUST ANOTHER DRAMA FOR SHOWN?
TODAY THE WAYANG KULIT IS MAKING MOCKERY OUT OF IGP, MAHATHIR AND DAIM?
THIS IS WHY MAHATHIR REFUSES TO RESIGN AND HANDOVER THE PREMIERSHIP TO ANWAR IBRAHIM.

This is how a liar answer

A LEOPARD DOES NOT CHANGE ITS STRIPE..

I wish Malaysian reporters are like this lady reporter in the interview.  Direct Question to get Direct Answer.  This is how reporters should question liars.

From this interview it is clear Mahathir does not trust Anwar.
Second no Prime Minister has ever finish their task before death or retirement.  Running a country has no time frame.  When one problem is settle another will pop out.  Every Leader faces challenges and problem created by their greed.  In Mahathir’s case, it is about a safety net for his children and grandchildren.  Mahathir does not care a hood whether you have food on the table or a roof over your head.  Mahathir’s family comes first.

There are many problems facing the Rakyat.  First is unemployment which 2nd or 3rd National Car and Kulim Airport cannot solve.  Second is Healthcare which Mahathir a doctor himself is not willing to look into computerizing the whole system to ease congestion for the Rakyat and to stop corruption. Third our Education system must be wipe off completely, to have a workable solution.  Right now it is still RACE and RELIGION as the main core. Fourth is to cut all the stupid RED TAPE in government department to be efficient. Fifth – why is MACC, PDRM and AG answerable to the Prime Minister instead to Parliament?  Sixth when will 2 terms for Premiership be enforce.  Seventh – accountability for donation from GLC and private business for Harapan Fund plus the return of stolen funds from 1MDB.  Eighth if Anwar can be sack as DPM and jail for SODOMY what about Azmin Ali who has been fucking men and women for years.  There is clear evidence that Azmin Ali did not bring in any investment for the nation as Economic Minister instead used our money to travel here and there with his male lovers having fun. Ninth – everyone wants a dateline for the handover of duty to Anwar, especially Investors.  Right now no one trust Mahathir with their money neither will bad mouthing the Jews help Malaysian Economy.  Tenth – before death, it would be good for his future generation to cleanse his sins against Anwar by way of a public apology and sack Azmin Ali.

With these I pray that Mahathir will wake up from his hatred toward Anwar and right all wrong as God has given him a second chance to make everything right again before his due death in August 2019.
Related image

Why We Need To Whack Goldman Sachs For Every Sen


Unlike my PM Mahathir, I am not anti-Jew. Alll I am interested in is the way they colluded with people in power to screw the rest of the Malaysian public. Let me know if ANY OF THE WORDS I USED ARE NOT TRUE!!!!  I will gladly apologise.

There is a big difference if I can cosy up to Gadaffi …. or I can cosy up to Merkel. There will be a world of difference in terms of the things I can do, the things I can get done, and the things I can say “I got this, don’t bother me”.

Now, we know the magnitude of the calamity from 1MDB, without Goldman Sachs help, where would we be???!!

My PM Mahathir said, Goldman Offered US$241 Million to Settle 1MDB,…. 

Harrooo, slap me in the face and kill my entire village please… same effect. Why I wrote this article, its the audacity of offering USD241m… its like raping someone and offering 20 sen… go and play in the canteen, don’t tell your parents. THE OFFER is mockingly so, it assumes that the Malaysian public and government are idiots.

Goldman, either you were complicit or you weren’t. If you weren’t… why even offer. You offered means you know you have been very naughty.

But if you were a little bit complicit… … the figure should be closer to USD3-4bn, and not USD241m.

So, by way of liability… you basically think GS is only liable for USD241m. Hmm… I would love to hear you justify that. I don’t know what spreadsheet ypu will be pulling to justify that though. 

“Goldman offered RM1 billion but they made 10% from it,” Mahathir said. When asked by moderator Haslinda Amin, what would be a reasonable sum, Mahathir said that it would have to be at least 10% of the total US$6.9 billion.



If you asked my PM he says around USD700m, Goldman Sach, you better just pay that. Because from all calculations it should be around USD3-4bn if you include fines and punitive charges.

Goldman Sachs, you know very well your share price has tried to DISCOUNT WHAT THE PENALTY SHOULD BE!!!!! Look at the timeline and newsflow, you lost almost USD70 per share based on the 1MDB linkages alone!!!!

USD 70 / USD 250 = 28%… the market has acknowledged you ARE FUCKING GUILTY and whacked USD20BN… dua puloh billion dollar Amerika Syarikat saha…(bloody) ja.

YOU WOULD RATHER SEE 20 BILLION USD BEING WHACKED OFF THAN COMPENSATE MALAYSIA 3-4 BILLION USD …. whackos. If you’d just step up early, admit liability, paid USD4bn, I guarantee you your share price would be higher than its current by 25%. Numbskulls… got brains, but numbskulls nonetheless.



WHY $3-4 Billion??


March 2019 – Goldman Sachs has been fined £34.4m by the UK regulator for misreporting millions of transactions over a decade. The US investment bank was criticised by the Financial Conduct Authority for “serious and prolonged failures” at its London-based international arm after reports for more than 213m transactions between November 2007 and March 2017 were not filed in an accurate and timely manner. The FCA also said Goldman “failed to take reasonable care to organise and control its affairs responsibly and effectively” in relation to those transactions. Goldman’s fine is the largest imposed by the FCA to date over transaction reporting breaches.

Goldman Sachs was fined 34.4m pounds for the above transgression. Do you think it is similar to their role in 1MDB? Cause Goldman Sach seems to think so as the RM214m offered was about similar sum. Please!!!

The bond deals in question, worth $6.5 billion total, took place in 2012 and 2013, and Goldman got $600 million in fees for those deals.  Malaysia’s finance minister said he wants Goldman to pay $7.5 billion in reparations. Malaysia’s attorney general said the government would seek fines “well in excess” of $2.7 billion from the defendants.

Citi estimates Goldman will receive penalties ranging from US$1.5 billion to US$9 billion, and assumes a base case of US$4 billion to US$5 billion, though business activities are unlikely to be suspended.

Onerous fines and restrictions may depend on perceptions about Goldman’s compliance structure. If regulators view this more as an isolated incident and believe Goldman has an effective compliance programme, consistent with Goldman’s stated position, then the fine would be on the lower end of the range.

Citi’s more bearish scenarios “get to the culture of the firm”. News of a potential connection to Lloyd Blankfein, alleging the then-CEO attended meetings with Jho Low, began to surface on Nov 8. This meant that the “act” was more a matter of culture in Goldman and even the top bosses were in the loop – ratifying and supporting these dealings.

Thus the $600m would be a bse case as Goldman should cough back every sen earned from the deal. The scandal caused losses of $4.5bn to Malaysia. Goldman should be fined punitive damages that should send a strong message to the bankers. If it was an isolated instance or where there were a couple of rouge bankers acting on their own, the fines should be smaller, but here we are talking of a despicable culture permeating, working with underhanded untrustworthy government and being complicit with the shennanigans. A punitive fine of 4-6x the sum earned is almost a forgone conclusion. IF NOT, the bankers won’t get the message if they only have to cough back the fees earned (if, and when, they get caught).


https://www.bloomberg.com/news/articles/2019-06-21/goldman-made-241-million-1mdb-compensation-offer-mahathir-says?srnd=premium-asia


How Will The Next Correction/Crash/Crisis Look Like For Equity Markets


We can use the mantra that history is the best teacher… but we, rather, we the investors never learn. How long does it take to forget the important lessons of frugality, savings, discipline … about 10 years it seems.

October 1987    The Dow had the famous one day 20% decline. Naturally, all markets were hit but Malaysia had our own bombs to deal with – the Pan El crisis. For the next few years, graduates were getting between RM400-600 a month for accounting jobs. Not even enough to pay rent. 

Of course, we need to decipher as all correction or crisis was brought on by an incident or event. It is usually not the sole incident or event’s fault. A major correction can only be triggered by an incident or event when the market’s way overvalued. If the markets aren’t overvalued, the event or incident would have a muted impact.

Such as the failed leveraged buyout of United Airlines in October 1989. Or the July 1990 invasion of Kuwait by Iraq. These generally do not count as major corrections.

October 1997    Asian financial crisis, brought on by easy money from foreign funds, and the proverbial mess when funds exited. Asia was so over-geared. It also impacted the developed markets during this massive correction.

March 2000    Dotcom bubble. Noticed how well we change the industry – from dotcom to internet to internet of things. 

Almost all bubbles are necessary (even the tulips bubble). Bubbles are when funds go searching for the best returns over the most exciting new prospects, new invention, great innovation … hence we need these funds surge to support and fund the startups or companies to search for the proverbial ‘gold’ in the new fangled industry.

This makes it easy to magnify the various business plans and R&D into the industry’s nascent nooks and crannies. It is important for innovation and progress, and sadly we also have to contend with the massively high failure rate.

September 2001   Man-made catastrophe which dragged the world into a mini economic crisis. But cannot be categorized as a naturally evolving market correction due to market forces.

October 2007   Subprime financial crisis. Quite unfair, when the developed nations went crazy on debt binge on property, and when the party’s over, the smaller nations also got whacked.

April 2010     The EU crisis stemming from the Greek tragedy.

August 2015   The shortlived by big correction brought on by the commodities crash.


We can actually block out the 2010 and 2015 incidents as non-major corrections. It is 2019 and it has been more than 12 years since the last major snafu. We are riding on borrowed time. So how will the next major correction look like? Where is it coming from?


China’s Corporate Debt??     The year 2018 witnessed an unprecedented wave of corporate bond defaults in China, as the world’s second biggest economy lost steam amid a trade war with the United States. The expectation that the economy will slow further, combined with the government’s continued efforts to rein in debt and risky lending, suggest the number of defaults is likely to increase further in 2019. China companies defaulted on 39.2bn yuan ($5.8bn) in domestic bond in just the first 4 months, that was TRIPLED the pace for last year.


China’s property sector, which lies at the centre of the construction and development boom, had accumulated debts, including bank loans, trust loans and bonds, of 15.6 trillion yuan ($2.27 trillion) as of June 2018, more than double the 7.6 trillion yuan three and half years ago.

Defaults for Chinese corporate bonds — issued in both U.S. dollars and the Chinese yuan — soared last year, according to numbers from two banks.

Yuan-denominated debt rose to an “unprecedented” 119.6 billion yuan ($17.8 billion) — four times more than 2017, according to a February report by DBS. Nomura’s estimates were even higher, putting the size of defaults in onshore bonds — or yuan-denominated bonds — at 159.6 billion yuan ($23.8 billion) last year. That number is roughly four times more than its 2017 estimate.

However, I don’t think the fuse will be lit by Chinese companies because NOT ENOUGH foreign funds hold their bonds. As it will be largely a domestic situation, it is likely to be “managed” by Beijing.
























US High Yield Debt??     Companies are carrying a $9 trillion debt load, posing a potential threat should rates continue to rise and the economy weakens. Most Wall Street bond experts think the issue is contained for the next 12 to 18 months, though one says the market’s “angst” is “not misplaced.”  A principal worry is over companies teetering between investment grade and junk that could cause market trouble should their standing deteriorate.

The rate of defaults for US companies on high yield bonds are not high for the moment. Things are still chugging along, markets at an all-time high there. Need to give it another 6-12 month. Hence the next big spike down is likely to be by this group but at least 6-12 months down the road.

Design a site like this with WordPress.com
Get started