Mr. Tan,
It suddenly struck me that I should share a nugget of the telephone conversation between my Financial Adviser and I which happened about 2 weeks ago.
My FA had unwittingly revealed to me that, after Lehman Bros went bust, the financial institute she is attached to found out that the structured products were protected from the US investors. She added that they were only marketed to investors in Taiwan, Hongkong and Singapore, apparently because these predominantly Chinese cities have cash rich citizens with a money-saving habit. I could tell that she was insinuating that Lehman knew very well then that those were unworthy and dangerous products for their own people. But of course, the "reason" cited for not allowing US investor participation was "owing to tax reasons". Even the term "Minibond" was coined to deceive the unsuspecting investors they had intended to court in this part of the world.
From the above information, I arrive at the conclusion that we Asians have been bullied, and taken advantage of by the faltering American financial giants. A large number of Asians have been suckered, MAS and the FIs here too have been suckered, having not done thorough research before letting onto our shores such dubiously-named, out-to-deceive investment products. In my opinion, we were all fooled BIG TIME!
Why should this Singaporean group of ill-fated investors be pushed to moan, groan, cry foul and battle their way through to convince everyone that they were indeed innocent victims bearing the brunt of a spectacular con job. Why should they be made to bear a substantial loss of their investment capital, made up of their hard-earned life savings?
SF
Posted by Tan Kin Lian at 11:39 PM 7 comments
So what do you think? We Asians are real suckers??? These big time con men have been planning all these just to suck Asians dry - international crooks.They should be taken to task and be arrested.But where are they now? Who are the people? They go bankrupt woh. What can you do? Bankrupt means bankrupt woh. Yes, they guaranteed.But the guarantor went bust and went bankrupt. What can you do? Just sit in a corner quietly and reflect on our own stupidity, greed and foolishness from top Financial Advisors to the simple Ah Pek who parted with his hard-earning savings.Sad.Tragic.Disastrous.Catastrophic.
I just wonder how these con men can still live comfortably and enjoy a full day's meal without any guilt and moral conscience. Time will tell. They'll have to pay back and answer to the massive sufferings, pain and grief they've deliberately caused to so many people in Asia - esp Singapore, Hong Kong and Taiwan. You Chinese are great gamblers, cash-rich, greedy and easily fooled. LEARN YOUR LESSON IF EVER??? DON'T EVER TRUST THE RED HAIR EVER!!! THEY WERE BARBARIANS AND THEY REMAIN BARBARIC!!!
It suddenly struck me that I should share a nugget of the telephone conversation between my Financial Adviser and I which happened about 2 weeks ago.
My FA had unwittingly revealed to me that, after Lehman Bros went bust, the financial institute she is attached to found out that the structured products were protected from the US investors. She added that they were only marketed to investors in Taiwan, Hongkong and Singapore, apparently because these predominantly Chinese cities have cash rich citizens with a money-saving habit. I could tell that she was insinuating that Lehman knew very well then that those were unworthy and dangerous products for their own people. But of course, the "reason" cited for not allowing US investor participation was "owing to tax reasons". Even the term "Minibond" was coined to deceive the unsuspecting investors they had intended to court in this part of the world.
From the above information, I arrive at the conclusion that we Asians have been bullied, and taken advantage of by the faltering American financial giants. A large number of Asians have been suckered, MAS and the FIs here too have been suckered, having not done thorough research before letting onto our shores such dubiously-named, out-to-deceive investment products. In my opinion, we were all fooled BIG TIME!
Why should this Singaporean group of ill-fated investors be pushed to moan, groan, cry foul and battle their way through to convince everyone that they were indeed innocent victims bearing the brunt of a spectacular con job. Why should they be made to bear a substantial loss of their investment capital, made up of their hard-earned life savings?
SF
Posted by Tan Kin Lian at 11:39 PM 7 comments
So what do you think? We Asians are real suckers??? These big time con men have been planning all these just to suck Asians dry - international crooks.They should be taken to task and be arrested.But where are they now? Who are the people? They go bankrupt woh. What can you do? Bankrupt means bankrupt woh. Yes, they guaranteed.But the guarantor went bust and went bankrupt. What can you do? Just sit in a corner quietly and reflect on our own stupidity, greed and foolishness from top Financial Advisors to the simple Ah Pek who parted with his hard-earning savings.Sad.Tragic.Disastrous.Catastrophic.
I just wonder how these con men can still live comfortably and enjoy a full day's meal without any guilt and moral conscience. Time will tell. They'll have to pay back and answer to the massive sufferings, pain and grief they've deliberately caused to so many people in Asia - esp Singapore, Hong Kong and Taiwan. You Chinese are great gamblers, cash-rich, greedy and easily fooled. LEARN YOUR LESSON IF EVER??? DON'T EVER TRUST THE RED HAIR EVER!!! THEY WERE BARBARIANS AND THEY REMAIN BARBARIC!!!
