75 yr old lady loses $40K in Lehman !!!

[virus2977]

singapore goverment will tell you , you die is your business, you lost all your $$$$$ is your problem.

 

[jw5]

I don't think its greed. Have you ever gone to a bank and hear how these bank officers promote their products to old people?

Many a times when these old folks go banks to put in fixed deposits, the officer will explain to them and advise them on newer products which will better leverage their savings they put in. They portrayed the risk levels as being very low and the usual saying as to how can a bank collapse. The truth is, it actually does now.

That's why the people who misrepresented when they sold the products should be named. And hopefully blackmarked and blacklisted.

 

[silverfox@]

That's why the people who misrepresented when they sold the products should be named. And hopefully blackmarked and blacklisted.

I tell you, its not only banks. Even insurance agents. When the economy is okay, they tell you the funds linked to US simi big company. When things happen, they say these 2 companies handle funds differently.

This is called misrepresentation to entice people to buy the product.

No one will admit when they sell these products. The lower end officers, managers are the ones selling these products under their organisation. At most they get the golden handshake. The top brass will get the butter and be prepared to face the media.

I have a close relative who works in the bank for decades. She told me, whatever happens, whatever products the Bank advises people to buy, NEVER BUY IT. Unit trusts, investment links, all never make money.:o

 

[Mentri_Besar_emas]

hey, I think its better to keep their money in biscuit tins. See Jack neos's latest movie,, at least the old mother can take out money to help her 3 sons to be 'managers'. U put in minbonds, all fly away. Jus fancy this! lol.