we must help the less fortunate
I have no problems with helping the less fortunate. However, I see no reason why I should assist the greedy in any form when they take a punt and lose. They gambled and lost!.. case closed. They should lick their wounds, take a deep breath, return to the grindstone, rebuild their wealth and learn from past mistakes. That's how societies move forward.
Bailing them out would send a message that reckless risk taking is all about gain with no downside should things turn to custard.
If DBS compensates these gamblers, where do you think the money would come from? It sure as hell won't be from the govt. It won't be out of pocket for the bank bigwigs either. The money used to compensate these losers would have to come from hardworking risk averse depositors who saw through the scam of high notes and minibonds and wanted nothing to do whatsoever with the schemes.
As for the gamblers, I say let them rot in hell. Had they made big money from their speculative ventures, do you honestly think they would have shared their ill gotten gains with those less fortunate than themselves???
I sincerely doubt it.
:oIo: to all of you who lost money. Serves you right.
