Dear Mr. Tan
I don't understand why after more than 3 months of Lehman Brothers bankruptcy, the following basic, but important information are still not available to the minibond holders :
1) the identities of the 150 CDOs
2) how many credit events already happened out of the 150 CDOs ?
3) how many of the 150 CDOs are on the danger list (about to fail) ?
4) an estimate of the current values of the minibond notes.
If a group of financial experts (from HSBC & MAS) cannot provide these basic information after more than 3 months of Lehman Brothers bankruptcy, it is hard to believe that the ordinary investors could have invested with their eyes open.
P
REPLY
I agree with you, but it is better for you to write to the media or to MAS. MAS should be the party that reply to this type of question.
QUESTION:
ReplyDelete"Details of 150 CDOs still not available after 3 months"
REPLY:
We thank you for your interest.
We are pleased to inform you we are looking into your feedback and would look forward to reply to you soonest we can.
Meantime, please leave down your contact details so we might get in touch with you where necessary.
Thank you.
Customer Service
MESSAGE:
F OFF
That would be the exact reply of our friendly regulator!
ReplyDeleteC'est la vie in Singapore.
REX
there are too many unanswered questions from the regulator - is there any misselling, any investigation done, why is the misleading brochure allow, ....
ReplyDeleteFriend
ReplyDeleteBrother or sister ... you are RIGHT ON for this comment re mis-selling by FI.
" ... If a group of financial experts (from HSBC & MAS) cannot provide these basic information after more than 3 months of Lehman Brothers bankruptcy, it is hard to believe that the ordinary investors could have invested with their eyes open."
Let me put it in another way . .
[a] Will you see a doctor who cannot give diagnosis after 3 months?
[b] Will you employ a staff who cannot produce his education certificate after 3 months?
From Cashew Nut