Financial Implosion Curse

Msny years ago, about 5 years, I was an intern at ShittyBank. Was very surprised by how small the unit was, the number of bitches that I encountered, the slowness of the computers used; never seen a 486 until I went in. Though it is somewhat a norm that there is no station for temp/intern but that really was the most WORST compared to the rival HCBS. Seriously the culture of 'takaning, bitching' was most damaging.

After I completed the internship, I moved on. But the bitterness it left caused me to curse ShittyBank. NOT with financial explosion (imagine a building exploding) like Enron, but with financial implosion (imagine a building collapsing on itself) after Quetzal has left.

Friends who heard me cursing were all saying things like 'impossible, unlikely' cos despite the lousy state of the backroom, the front image is prestigious, premium. My brother whom also encountered Shitty experience working as sales in ShittyBank Msia also joined in to curse.

Years passed by and there was no sign of financial implosion. I refused to get a ShittyBank credit card or account or anything related. Though as years passed by and time healed, plus one forgets, the curse is still remembered and uttered time to time. There seems no end in sight...

Until....

1) 2008, ShittyBank received a capital infusion from Spore Inc and Dubai parties.

2) Near the end of 2008, ShittyBank went to US govt for bailout.

3) Feb 2009, ShittyBank needed capital and got US govt and Spore Inc to convert the preferential shares to ordinary shares to raise capital. Cos the conversion from a preferential to ordinary, was at an option price of $35-36. But the reality of the matter was the ordinary shares was trading for near $1.50. So to pay $35 for something worth $1.50, meant paying a premium of $33.50 aka the capital infusion.

Wonders how many more of such implosion incidences more to topple it. Though its true that the American operations is distinct from its Sg or Msia operation units but still the experience has tainted them all in my eyes. Implode them all since Quetzal has already been let go and left.