I will be speaking at Speaker's Corner on Saturday 15 November at 5 p.m. I will give an update about the three petitions that have been lodged with the Monetary Authority of Singapore and also give a response to the remark by a Government leader that the investors went in with their "eyes open". Mr. Goh Meng Seng will translate my speech into Chinese.
I like to ask the investors to bring your family and friends to attend this meeting, so that we can have a larger crowd than before.
The investor went in with "eyes open". Interesting statement. But the danger and risk of the product is buried deep inside the prospectus and hidden everywhere. So you have to bring along spade to dig the prospectus and magnifying glass (high power) to search for the details
ReplyDeleteWe are on our own.
ReplyDeleteMAS and govt are defintely not willing to expose the banks due to conflict of interest.
I will bring my whole family to Hong Lim this weekend. Some of my friends will also come along to show support.
It's Enough.
Hi,
ReplyDelete"Eyes open" only apply to the young and the educated ones, I suppose. Then how about those Town councils which have also invested ine Lehman Minibonds? Should the MPs be made to make up the losses? I hope someone has to answer for his/her actions, not like Mas Selamat!
"We are on our own."
ReplyDeleteNothing new.
Outside the vulnerable group, there are two categories of people putting monies in those toxic product.
ReplyDelete1. Those go in with eye open and can see everything clearly
2. Those go in with eye close believing that national bank/people bank will do things properly.
The first group belong mainly to corporation and big investors who has their own professional advice. Take the case of town council, they invest in this toxic product because their rating at the time, as advice by their expert analyst, was good and worth investing.
The second group of investors are mainly small investors who has been misled by the RMs, unable to afford specialised advice from expert, believe in the brand name.
May be the word "go in with eye opened" only refer to the first group, including the town council, and not refer to the second group. definitely not applied to the vulnerable group.
"god help those who help themselves" , with Mr Tan's selfless sacrifices to help affected investors, it is disappointing to see only 20% (2000) participated in the petitions. All 10,000 investors shud step forward, and be united, and support each other. It looks like legal action is the only option left for the so-called "non-vulnerable" group, which i believe is the majority. A lie ( or misrepresentation...etc ) is a lie, it does not matter the deceived is old,young,educated or not. The liars still have to be made responsible for thier wrong-doings. If i am not wrong, that's the whole purpose of having law ? Take the first step: go to Hong Lim Park this sat to show support!! Vulnerable,non-vulnerable, non investors...all are welcome !!
ReplyDelete"If i am not wrong, that's the whole purpose of having law ? "
ReplyDeleteYou have NO idea whats the REAL purpose of Law.
Tipper: Go read some history
Ask LHL whether the RMs are genuinely professional. If not, even walking with eyes open can be deceived by the so-called "professionals" because we cannot see their resume if they were "N","O" or "A" level students who just came out to work with rediculous bank target to meet in order for them to earn food on the table. As usually quoting "eyes open" is as good as telling peasants you "asked for it!".
ReplyDeletewhether the RMs are genuinely professional in persuading you to hand over your monies, we might never know.
ReplyDeleteBut rest assured, if its any sort of a rough gauge, it seems they are genuinely professional now in telling you they are NOT returning them to you