Singapore investors awakened politically by ‘financial crisis’
SINGAPORE, Nov 7, (Agencies): Cancer patient Lim Qing Si was one of thousands of hard-working Singaporeans who lost their savings in the financial crisis, especially when Lehman Brothers collapsed and its secured products became virtually worthless. “All this money is my husband and my retirement savings,” said Lim, a 54-year-old retiree, who must now scramble together what’s left of her savings to pay for cancer treatment after a malignant tumour was found in her leg. In all, nearly 10,000 people in Singapore stand to lose over S$500 million ($338 million) due to the collapse of Lehman Brothers Holdings Inc, the central bank says. The incident left many financially scarred but politically awakened in a city-state where protests are rare and street gatherings of five or more people require a permit.
SINGAPORE, Nov 7, (Agencies): Cancer patient Lim Qing Si was one of thousands of hard-working Singaporeans who lost their savings in the financial crisis, especially when Lehman Brothers collapsed and its secured products became virtually worthless. “All this money is my husband and my retirement savings,” said Lim, a 54-year-old retiree, who must now scramble together what’s left of her savings to pay for cancer treatment after a malignant tumour was found in her leg. In all, nearly 10,000 people in Singapore stand to lose over S$500 million ($338 million) due to the collapse of Lehman Brothers Holdings Inc, the central bank says. The incident left many financially scarred but politically awakened in a city-state where protests are rare and street gatherings of five or more people require a permit.
