DBS High Notes 5 - Call for Collective Legal Action

[masgnoeL]

Message from Daniel Tan:

Subject: Collective legal action - Request for proposals

22 Oct 2008: Consider collective legal action only as the last resort, after the other avenues have failed.

Several investors are keen to consider this step now, as they have been disappointed with the steps now taken by MAS.

Mr Tan Kin Lian have requested three lawyers to prepare a proposal for collective action. I suggest that the investors wait for the reply of the lawyers.

Footnote: Today, Minister Lim Hng Kiang cautioned against taking legal action against the bank as the legal expenses will be very expensive.

 

[DIVISION1]

An amicable resolution is better than confrontation as it is about recouping from an investment.

 

[masgnoeL]

An amicable resolution is better than confrontation as it is about recouping from an investment.

You have to write your response with consideration for this sentence:
"Several investors are keen to consider this step now, as they have been disappointed with the steps now taken by MAS"

 

[DIVISION1]

You have to write your response with consideration for this sentence:
"Several investors are keen to consider this step now, as they have been disappointed with the steps now taken by MAS"

Things have admittedly been slower than would have been liked. But Singapore　does not practice free handouts. But in recognition that some Singaporeans suffering are the elderly, as a social responsibility, things must be looked into.
The government of Singapore could have meted out tough love, a practice that it believes strongly. Our esteemed leader was born from tough love.

 

[makapaaa]

An amicable resolution is better than confrontation as it is about recouping from an investment.

That is, accept getting back nothing happily?

 

[makapaaa]

Things have admittedly been slower than would have been liked. But Singapore　does not practice free handouts. But in recognition that some Singaporeans suffering are the elderly, as a social responsibility, things must be looked into.
The government of Singapore could have meted out tough love, a practice that it believes strongly. Our esteemed leader was born from tough love.

Put it simply, your owners are the BEST PAID in the world, but cannot deliver. Not only that, it engages in leegalized corruption and are insatiably greedy when it cums to squeezing the people dry. To psycho the Peasants to accept their wickedness, they engage a 154th mouthpiece to spew silly propaganda and to justify themselves with warped logic. Unfortunately much of its work is undone when useless volunteer running dogs wanna sa ka and bark indiscriminately.

 

[DIVISION1]

It is unlikely to be absolutely nothing from the monetary perspective. And it is definitely something as part of growing up lessons to Singaporeans that there is no such thing as risk free investments. It is the fault of Singaporeans to trust blindly insurance agents, banking officers just because they look like they are trustworthy. You need to know what you are investing, especially if the sum is large.

 

[makapaaa]

It is unlikely to be absolutely nothing from the monetary perspective. And it is definitely something as part of growing up lessons to Singaporeans that there is no such thing as risk free investments. It is the fault of Singaporeans to trust blindly insurance agents, banking officers just because they look like they are trustworthy. You need to know what you are investing, especially if the sum is large.

Agreed. They have been taken a ride by your owners for too long and they are still blind to it. Good that your brought this up.

 

[DIVISION1]

Put it simply, your owners are the BEST PAID in the world, but cannot deliver. Not only that, it engages in leegalized corruption and are insatiably greedy when it cums to squeezing the people dry. To psycho the Peasants to accept their wickedness, they engage a 154th mouthpiece to spew silly propaganda and to justify themselves with warped logic. Unfortunately much of its work is undone when useless volunteer running dogs wanna sa ka and bark indiscriminately.

The public information dissemination through reputable national media sources to educate the people is rational and it is logical to believe that thinking Singaporeans will understand the responsibility that they have to shoulder and that any monetary compensation given is a privilege and part of good will and it is not to be viewed as an entitlement. LHK has already given paternal advice against taking up legal redress lest to incur more monetary losses. Only caring leaders would perform such noble actions. It is illogical for investors to vent their frustrations for decisions that they ultimately made on their own free will.

 

[makapaaa]

The public information dissemination through reputable national media sources to educate the people is rational and it is logical to believe that thinking Singaporeans will understand the responsibility that they have to shoulder and that any monetary compensation given is a privilege and part of good will and it is not to be viewed as an entitlement. LHK has already given paternal advice against taking up legal redress lest to incur more monetary losses. Only caring leaders would perform such noble actions. It is illogical for investors to vent their frustrations for decisions that they ultimately made on their own free will.

In other words, your owners have priced justice out of reach to most Sporns despite being the BEST PAID in the world. What is their ulterior motive? Going by your warped logic, if conmen cheat people's of their money without using force, they should be allowed to go away scot free?

 

[singveld]

they deserve what they get

when they buy something, they do not understand

 

[imperialarms]

why they like tt? all wills erve hard labour for 2 years now

 

[hunter]

Who is Daniel Tan

 

[Zombie]

22 Oct 2008: Consider collective legal action only as the last resort, after the other avenues have failed.

TKL has turned many people into fearless chicken, the ones ready to be slaughtered by the legal process. These chicken were misled by TKL to believe that responsibilities lies on everyone else except the investors themselves.

 

[phouse3]

People are milking political mileage out of the small retail investors. How about the institutional investors (and the well-heeled) who are much fewer in numbers but have invested amounts much bigger?

Who are the likely institutional investors? Will they collapse if they are not going to receive their money back? What are the repercussions?

 

[sherrry]

In such a situation, it clearly shows that there are flaws in the system that leave the end investors hanging high & dry. Looking at the average age of the victims, I should think that most of them are clueless if the investments bought were being misrepresented or not.

So, if there is any glimpse where the claimants can prove misrepresentation from the financial companies/banks, there's room to turn the tables round. Indriectly, it would reflect upon the flawed governance of the systems, indicating that the people on top need to pull up their socks, or remain seated & busk in the embarassment.

".........cautioned against taking legal action against the bank as the legal expenses will be very expensive"
Very expensive for who? The banks or the claimant? Someone has to take the fall, its either the defendant or the claimant.

 

[Avantas]

Now that DBS has promised to compensate investors, Tan K L should put a stop to his nonsense now.

read more here:

www.wayangparty.wordpress.com

 

[sage]

Go Mr Tan, go. Bring them all down, MAS and the banks for negligence and deceit. This is a great nation with superb track record looking after the interest of working class and lesser people as against corporate investors and authority. No need to scout as any registered lawyer to will do since the courts will not tolerate failure of regulatory body allowing banks to cheat the public, as a matter of public interest.

 

[JohnTT]

How to sue???? DBS = Law = Govt

 

[Einfield]

Leagal action will be a mistake.