Tan Kin Lian's Blog: Savings of retired workers

Wednesday, October 29, 2008

Savings of retired workers

My friend who works in the NTUC group told me that she was misled into investing in the structured product. Being financially trained, she was quite careful and asked about the product, before she made the investment. She was mis-informed about the product by the relationship manager.

I suggested to her that she should bring it to the attention of the leaders in NTUC, specially the ministers and members of parliament. So many people have been misled. Many of them are the retired workers who invested all of their life time savings. She agreed.

7 comments:

Anonymous said...: I hope your friend can come forward to share her experience about the circustances under which she was mis-sold the toxic product. It would benefit the rest of us who are also victims of the toxic products if she is willing to tell us how she was misled into buying it and what prompted her to realised that the product does not suit her. Since she is well trained in the financial field, it is important that her case can be cited as even experienced investors can also fall into this trap set up by the unscupulous FIs.; October 29, 2008 4:58 PM
Unknown said...: Lies & lies. How to tell if the RMs are lying at all!

Now that even the experienced are also misled, what else?

What is to become the 'so called-educated' but not savvy ones?; October 29, 2008 5:35 PM
Anonymous said...: The gahmen and ministers, unless they are dumb, would have by now realised the scale and seriousness of the issue. Now they are studying the options how best to resolve it, without too much political fallout. Remember, individual pain and suffering does not rank high in their decisions when they consider the big picture. As you know, when casinos can help in economic growth, have it. When FTs are needed in great numbers, have it too. Never mind if you folks are squeezed. As long as no protest or demo (except Hong Lim Park) it is OK. This has been their philosophy all along.; October 29, 2008 7:30 PM
Anonymous said...: So convenient.....; October 29, 2008 10:20 PM
Anonymous said...: If you appraoch Lim swee say his standard answer will ," You ask me, I ask who". so don't go to him; October 30, 2008 1:02 AM
Anonymous said...: Our gahmen and ministers Not Dumb at all ! Where got dumb ? They are to clever to pay themselves million dollar salaries and when recession comes, they cut your pay first !

They let foreign talent into S'pore. in droves but so clever to keep them out of gahmen posts else their world class salaries are threaten by cheaper FT ministers ! Where got dumb ?

So you think they will care for the man in the street who got cheated by the banKdits ? They were the ones who let all these foreign banKdits into S'pore. in the 1st place, of course they will side with them even if it is clear the banKdits committed fraud ! Even if they were wrong, no MPs will dare to say anything !

And if you want to protest at the bank, they send policemen to scare the wits out of you first ! Where got dumb ???; October 30, 2008 1:48 AM
Unknown said...: My friend who works in the NTUC group told me that she was misled into investing in the structured product. Being financially trained, she was quite careful and asked about the product, before she made the investment. She was mis-informed about the product by the relationship manager.
thanks
jacksmith
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Savings and Debt Help; March 05, 2010 2:29 PM