Mr Tan Kin Lian, Thanks for his posting. It seems to me that MAS does not read international newspaper. If the product is deemed risky in USA, could it also mean it is risky in Singapore? If it is a risky product and being sold over the counter to ordinary banking client, could it be an obvious mis-selling? If As Wall Street Journal is independent report, why not Straits Times make similar reporting? I am really puzzled!
MAS knows what is happening. They have all the elite scholars. Why should they report things which reflect badly on them ? Our losses in toxic products are just peanuts to them. Just do what is right when the time come for you to cast your vote.
MAS already said they can't make the FIs to compensate the aggrieved investors. They are powerless. See FIDREC and get grilled and threatened by them. The victims become the guilty accused.That is how they turn the table on the investors.
MAS, Fidrec and the FIs and the Law here are snakes and rats in the same nest. What do we expect. Never trust anybody or Public Institution in Singapore - not even your donkey years good friends, they could play you out to save their own skin.
We are told our eyes are open when we bought minibond, pinnicle notes etc. I am not sure why the smart scholar & the people that is running the regulation agency here in our country did not open their eyes big enough like us
There are still a lot of local investors that have partially settle because they have no choice are "still" sore about this type of toxic product can be sold in Singapore. Thanks for providing this info
Many thanks for this article.
ReplyDeleteI forwarded this to my lawyer who is handling our suit against FI
Royal Bank of Scotland.
Mr Tan Kin Lian,
ReplyDeleteThanks for his posting. It seems to me that MAS does not read international newspaper. If the product is deemed risky in USA, could it also mean it is risky in Singapore? If it is a risky product and being sold over the counter to ordinary banking client, could it be an obvious mis-selling? If As Wall Street Journal is independent report, why not Straits Times make similar reporting? I am really puzzled!
FROM CASHEW NUT
MAS knows what is happening. They have all the elite scholars. Why should they report things which reflect badly on them ? Our losses in toxic products are just peanuts to them. Just do what is right when the time come for you to cast your vote.
ReplyDeleteMAS already said they can't make the FIs to compensate the aggrieved investors. They are powerless. See FIDREC and get grilled and threatened by them. The victims become the guilty accused.That is how they turn the table on the investors.
ReplyDeleteMAS, Fidrec and the FIs and the Law here are snakes and rats in the same nest. What
ReplyDeletedo we expect.
Never trust anybody or Public Institution in Singapore - not even your donkey years good friends, they could play you out to save their own skin.
We are told our eyes are open when we bought minibond, pinnicle notes etc. I am not sure why the smart scholar & the people that is running the regulation agency here in our country did not open their eyes big enough like us
ReplyDeleteThere are still a lot of local investors that have partially settle because they have no choice are "still" sore about this type of toxic product can be sold in Singapore. Thanks for providing this info
ReplyDelete