Saturday, October 11, 2008

Speaker's Corner - 11 Oct 2008

An estimated 1,000 people turned up at Speaker's Corner. I spoke two times at 5 pm and 6 pm. Many of the investors met other investors who invested in the same product. Most investors told me that they are risk adverse and were misled into investing in the structured products. They could not imagine that the products could be so risky. Some of the investors cried.

I advised the investors to get a lawyer to prepare an affidavit to support their complaint to the financial institution. They can find their lawyer and use this template:

http://tankinlian.blogspot.com/2008/10/affidavit-statement-made-under-oath.html

They can also approach the lawyer mentioned in my blog and get the affidavit signed for $120.
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5 comments:

Anonymous said...

My mum and I hold a lot of Minibonds Series 2. Whatever the outcome, we are very grateful to you and thank you from the bottom of our hearts.

We have followed all the advice you have given us. But when I was at the Speakers Corner just now, I spoke to a lot of people, especially the elderly and the chinese/dialact speaking ones, they had no clue what they could do.

There are a lot of simple folks there who are not able to file complaints, read blogs etc. My heart goes out to them.

I can only direct them to both your blog and the lioninvestor's blog - wrote it down for them on a paper - and ask them to get their children or some one who can use the computer.

MAS should set up a centre like HK where the media can help direct them to go for assistance.

Once again thank you Mr Tan

Koh Soo Hiem

October 11, 2008 8:41 PM
Anonymous said...

Only 1000 out of the 10,000 attended?

October 11, 2008 8:47 PM
Anonymous said...

Thank you , Mr. Tan . for championing the cause of the small investors who put their life saving in the hands of the wolves who disguised as financial consultants.
The crowd was a middle age crowd who are retired or planning to retire.. Their retirement has gone up in smoke because of the greed of the FIs, the dishonest and incompetent consultants and themselves for being too trusting.
I hope MAS will pressure the banks and the finance companies to return
at least the capital.

October 11, 2008 10:13 PM
Anonymous said...

It's the FIs Management who is responsible. They must compensate.

October 11, 2008 10:54 PM
Anonymous said...

Who let them in?

October 12, 2008 1:39 AM

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