Monday, November 03, 2008

Petitions on Structured Products

Petition #1 had 983 signatures
Petition #4 had 1,017 signatures.
What is the significance of both numbers?


Anonymous said...

It may mean the signatures may have come from almost the same pool of people. Which also means those who did not sign earlier is also unlikely to do later, even though they may agree to the petition.

Can the same be said of those attending Hong Lim rallies since the crowd is about the same every time? If so then it means the impact is not spreading and still confined to a certain group, maybe those who read Mr Tan's blog or their friends or relatives.

The gahmen and FIs may also make their own deductions about the impact of Mr Tan's publicity and activism on the matter. This may also influence their decisions on the saga.

Anonymous said...

I attended the Hong Lim meeting for the first time last Saturday. I did notice that the crowd is slightly younger than from the first meeting (based on video) as the vunerable group has disappeared as they have been compensated.

The vunerable group has the best shot for mis selling as in Hong Kong case. Now they have been compensated and agreed to sign the waiver for legal action, the FIs will not have to face mis selling anymore.

Anonymous said...

Many of those who did not sign the Petitions or participate at Hong Lim or send in their complaints yet are held back many factors, including employment constraints ( eg many may actually work in the banks and FIs, many work in government and statutory boards, many work in Town Councils and are prohibited from public "display of anger", etc ) , many do not want to be abused again in the "process", etc. But, ALL of these victims definitely are angry and demand their hard-earned life-long savings back. The banks and FIs are naive to deny and continue to deny or even shift the blame to their own employees. What a shame for institutions used to be trusted by the public. Change your tack and reap enormous GOODWILL, more valuable than the funds invested, and more than the growing continual costs ( public relations, legal, reputational, productivity and opportunity costs of tens of thousands of people, lost management focus on the REAL issues to battle with, etc ) of your lengthy denial. There will be NO moral hazard, as every party is now fully aware. All the victims are waiting .....

Anonymous said...

They add up to exactly 2000?

Tan Kin Lian said...

Congratulations, Wisely.
You care correct.
Petition #1 is 17 short of 1000.
Petitoin #4 is 17 more of 1000.
Together, they make up 2000.

Anonymous said...

NOW whats the significant of that "17"

Anonymous said...

Hi Mr, Tan ,

The 'not so high figure' is not so encouraging. It tells the followings :
1. " Kia see " attitude and
2. " Just let other people do it " and I'll benifit from it if the Petitions succeed.
3. Some people still don't know they are the victms.

C H Yak said...

Hi Mr Tan

Assuming that these 2000 do not not include the "highly vulnerable" whom the FIs would call in and "buy-over" by full settlement of 100% the principal, it means only 4000 investors are accounted for out of the 10,000 identified.

Half-way mark is not crossed.

Anonymous said...

Mr. Tan,
The number is over 1,100 now.

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