Saving Singapore's wealthy: Bloomberg Gadfly

SINGAPORE (Sept 21): 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?

Sadly, safeguards for the little guys are coming a bit late in the day.

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