Nov 19, 2008
Govt won't let good firms fail
By Robin Chan
THE Government will soon enhance schemes to help cash-strapped businesses secure bank loans, Finance Minister Tharman Shanmugaratnam said in Parliament yesterday.
This is to avoid a scenario where good businesses are forced to close down owing to a lack of access to credit, he said.
Mr Tharman said the new measures will enhance existing loan schemes, and will mostly involve the Government sharing the risk of the loans with the banks.
Prime Minister Lee Hsien Loong had said on Sunday that with a protracted economic slowdown looming, some measures to help businesses and workers would be announced this week.
What do you mean by good firms? If they are good, why do they need help from gahment?
Let the best and fittest survive, isn't that what free market is all about?
The gahment through Temasek has been pumping into loss-making Chartered Semicon for years. Is Chartered Semicon a good company? Hahahaha!