, Columnist
Saving Singapore's Wealthy
Risky investments should be a choice, not a surprise.
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In the last eight years of cheap and abundant global cash, Singapore's central bank has acted again and again to protect lenders from the consequences of getting too greedy, especially in financing the city's pricey real estate.
But surely the island's nominally wealthy -- those ordinary people who were just lucky to own property in Singapore before it became a playground of Asia's rich -- also needed to be shielded from the side effects of their own desperation for yield?