Dear Mr. Tan,
Here are a few pointers you may want to use in your talk on Saturday about investors going in with their eyes open.
Any rational person if he is made aware of the risks in the Minibonds will never but it for the simple reason that the interest rate is only 5% compared with dual currency and equity Link investments which offers up to 22% with lower risks. In the worst scenario we just have to be converted to the foriegn currency or pick up the normally blue chips share. The risk is certainly less than that of minbond.
In short, we were hoodwink and MAS who is supposed to safeguard its citizens have allowed this toxic product to be sold through their negligence or ignorance. I have been told by unconfirmed sources that a certain rating agency refuses to rate the credit linked notes, but they received veiled threats.
I am quite sure the town councils who lost money did not understand what they were buying but are too embarassed to say so. After all it not their money but the taxpayers.
Keep up the good work
VK
Hey are your guys claiming someone should compensate you because YOU dont know what YOU bought!?
ReplyDeleteThat case where could I sign up
because I didnt know what I bought, my house, my car and my shares
Inadequate return is the key point of such product.MAS is closing their eyes to the cheating activities of FIs.
ReplyDeleteI bet no one would be tricked if such products were sold by pedlars in the streets. However, they were sold by FIs backed by their reputation. Now,it seems they do not care their reputation anymore.
XH
9:06 PM,
ReplyDeleteYou can complaint to MAS who will advise you to file a complaint with the FI, then wait for interview. Meantime, show up at Hong Lim to join protest. Good luck!
I heard news of a friend in another class "conned" some classmates of a small amt some 30-40 yrs ago. Recently I met those friends in that class, they were still talking abt it. People wld not forget.
ReplyDeleteIf u loss a big sum of money, or yr life savings, u wld not forget even afer 100 years!!!!
When a people is insulted, especialy when the insult is unjust, he wld never forget.
Just look at someone who took a taxi to his girlfreind house, but instead was send to a mail's house. After 60 yrs, he still cannot forget.
So Pl don't add insult to injury to the victims, who are already in such a dire state, and are in distress.
Be more kind OK??????
9:06pm,
ReplyDeleteI bet you don't even know what you are saying here, do you? WS
9.06
ReplyDeleteMaybe you should read the advertising brochure and pricing statement of Minibond Series 3, then you will join the group of 'I didn't knows'. It's like buying those products which contain underlying materials from China,and which turn out to be contaminated but you wouldn't know till someone falls ill.
"Anonymous Anonymous said...
ReplyDelete9.06
Maybe you should read the advertising brochure and pricing statement of Minibond Series 3, then you will join the group of 'I didn't knows'. It's like buying those products which contain underlying materials from China,and which turn out to be contaminated but you wouldn't know till someone falls ill.
10:29 AM"
Precisely i went thru the articles sufficiently to realise the investors WERENT cautious. This is a personal responsibility they themselves somehow 'fail' to highlight each time they raise their voices or complains for claims, i notice that, not once, not twice, quite a number of times fact. Maybe they were so eager to have someone compensate them for their misgivings that they forget about 'their misgivings'
"Anonymous said...
9:06pm,
I bet you don't even know what you are saying here, do you? WS
9:19 AM"
Thats great you understood
so now you DO know what you will be hearing from the Court to YOU during your legal sue?
9.06pm
ReplyDeleteIf you equate your car, house and share purchase with these toxic "stuctured" products that are "loaded" with many unknown "underlying" investments, then you are obviously an uninformed person who speak just for the sake of creating noise.
" Anonymous said...
ReplyDelete9.06pm
If you equate your car, house and share purchase with these toxic "stuctured" products that are "loaded" with many unknown "underlying" investments, then you are obviously an uninformed person who speak just for the sake of creating noise.
10:00 PM"
By that statement alone, I am very glad you FINALLY admitted you really dont know what you bought.
If you didnt go in with your eyes open, then you dont deserve compensation. My point, Plain and simple.