Dear Mr. Tan,
I am writing with a great deal of embarrassment. My husband and I are far from being uneducated. In fact, there are two phDs between us but that goes to show that stupidity doesn't discriminate against people with education. We sank $100 000 - half of it was with pinnacles 8.
I have the following questions:
What we want to say is that there is definitely a history of misrepresentation in this case. However, we are also embarrassed by the fact that we were so gullible and trusting. In the news, much is made of the plight of retirees who couldn't have known better. However, the honest truth is - it is a very complex product and if we (someone like us) could not understand it, I suspect, many people will walk into this blindly.
My point - the law usually wouldn't allow anyone to sell lousy goods in bad faith. However, when it comes to banks - they can legitimately take millions off simple folks like us and walk away. This is what I find incomprehensible. Is MAS an innocent bystander?
Finally, I just want to thank your website for helping me understand the issues even though I feel more of a fool after reading what others are saying. What I want to say is that don't assume education is going to protect you from such blunders. (details deleted)
I hope this reaches your personal email account and not your blog. If for some reason it goes to your blog, I would be grateful if you could remove it.
I advise you to write directly to the MAS and to your member of Parliament. I have a few hundred people writing to me on similar experiences. I do not have the power to do anything, except to post into my blog, speak at Hong Lim Park, and organise Petitions (which are ignored by MAS).
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