Dear Mr. Tan,
Being a investor of Minibonds, I got this feeling MAS is just trying to push all responsibility to the Financial Institution.
First, they suggest investors who feel that they have been mislead into buying those Lehman link product to file complaint at respective Financial Institution.
So now those investors will just file the complaint for the sake of filing, just with a hope of getting back their investment if the Minibonds were to be liquid off when come to the stage where there isn't any new swap counter party.
With a mixed of real complaint and fake complaint, the FI are certainly pressured on resolving it, maybe by ways of paying off the losses. Guess this is what all investor like me want in the end.
In the first place, this product is lodged and registered with MAS, so now they are saying they did not approve it. So I wonder why they call them governing body of the regulation?
MAS have said that they are looking at various possibilities of new swap counter party. So the deadline is on this Friday. How true are they doing it? When they know that even if there's no new swap counter party, end of the day the FI will have to be pressurized to pay up the loses in order to let all the saga end.
Is there any proof for investor to know that they are really various potential proposer? Or is it just covering up them that they are doing something about it.
P.S keep me as anonymous thanks.
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