Tuesday, July 21, 2009

NMP Siew Kum Hong expresses his views on the credit linked notes

Read his views here.
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5 comments:

Anonymous said...

I think it is a big mistake for PAP not giving Mr. Siew the second term of NMP. Now all the gates are open and I think we would get to see Mr. Siew's true color and talent. He is always enlighterning, rational and good with words. I enjoy reading his blog very much. I wish he allows Anonymous's comments.

July 21, 2009 9:33 PM
Anonymous said...

I thot those who had been compensated are very lucky.

HK was able to get FIs to compensate the victims bec SFC was negot. with them. They know SFC has the power ......Even 60% SFC was still not happy.

Now who want to compensate the victims, since the penalty is just to ban from selling. Why don't save the money and be banned?

I may be wrong, and I hope it is wrong.

July 21, 2009 10:52 PM
Anonymous said...

I totally agree with his views. I accepted slightly more than 20per cent of my total investment from FI. I would not have accepted had I known that some of their staff did not attend the necessary training. Since the RM who sold me the product probably did not attend the training (judging from the way she described the product)I should have held out for more. I support those who are going the legal route. If they win, at least some wrongs will be righted.

July 21, 2009 11:41 PM
Anonymous said...

Can we request MAS to reveal all the names of FIs officers,
including the RMs who clearly committed errors and breached the
FFA so that individual cases can
be dealt fairly in the legal process. We don't understand
why MAS has to hide this information unless they want to
protect the FIs interest from the
start.Otherwise MAS won't say FIs
were not liable for their
mistakes. Similarly, MAS was not
at fault and hold no
responsibility in approving the
sale of these toxic products to the public.

July 22, 2009 10:24 AM
Anonymous said...

I regret accepting the FI misery offer now, after reading MAS findings. MAS found so many failings but kept quiet till the offers were accepted, these guys are on the FI side, no doubt helping to protect them at our expense

July 22, 2009 11:43 PM

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