SG couple lost $200k due to Lehman Bros

[dysentry]

http://forum.channelnewsasia.com/viewtopic.php?t=183266&sid=47e8b51ed46f3fc90640d81a66408e72

Quote :
他们投资的JubileeSeries3LinkearnerNotes，雷曼兄弟只是五家所挂钩银行中的一家，在雷曼兄弟倒闭后多日，才从报章获得消息，JubileeSeries3已成废纸一张，一时完全不能接受，再打电话给银行的理财顾问，几经辗转才证实这消息。父亲一时不能接受，老泪纵横。接下来几天，精神恍惚，他们可是要靠这点积蓄养老啊！

Says about 900 people affected woh... blame MAS also too late...investment comes with risk like anything else...

 

[dysentry]

HK got angry protest woh... SG only can keep quiet...

HONG KONG: Hundreds of angry Lehman Brothers investors rallied in Hong Kong on Sunday to demand the government help secure their money after the U.S. investment bank collapsed this past week.

The investors, many of them nearing or at retirement age, waved investment papers and chanted slogans outside the territory's government headquarters as they accused regulators of not doing enough to safeguard their interests.

"This is all my money," said Peter Wang, 62, a former furniture store owner who said his entire retirement savings, about 2 million Hong Kong dollars (US$256,000), was tied up in Lehman-backed bonds.

Albert Ho, head of Hong Kong's Democratic Party, which helped organize the rally, criticized the government for not taking more steps to educate investors in Lehman products, including complex bonds tied to the performance of the territory's equities market.

 

[DIVISION1]

One word - temperance.

 

[mustpaycashhhh]

http://forum.channelnewsasia.com/viewtopic.php?t=183266&sid=47e8b51ed46f3fc90640d81a66408e72

Quote :
他们投资的JubileeSeries3LinkearnerNotes，雷曼兄弟只是五家所挂钩银行中的一家，在雷曼兄弟倒闭后多日，才从报章获得消息，JubileeSeries3已成废纸一张，一时完全不能接受，再打电话给银行的理财顾问，几经辗转才证实这消息。父亲一时不能接受，老泪纵横。接下来几天，精神恍惚，他们可是要靠这点积蓄养老啊！

Says about 900 people affected woh... blame MAS also too late...investment comes with risk like anything else...

Kaninay lose money kaubaykaubu. Make money leh? Kaninay.

 

[makapaaa]

One word - temperance.

One sentence - Ass Loon CHOR BOH LAN.

 

[Nomad]

200k is already consider very less liao.
what about the telcom company deal at Thai and Indonesia

 

[dysentry]

$200k retirement savings leh, the couple may end up in McDonalds clearing trays.

 

[singveld]

the only reason why lehman was allow to go bust, is because all the creditors of that bank are foreigner.

if the creditors are mainly united state citizen , with the election going on, it will be saved.

the money is vaporised , gone. jump on mrt track. there is nothing they can do.

 

[RealSingaporean]

MAS sleeping la.
when the say want to make singapore a fund hub i know this will happen, but did not realsie so soon.

KNN any tellers in the banks is trying to sell u this type of product. wondering they know what they selling.

when i doing banking at the counter, they also try to sell to me. lucky i manage my own money.

 

[The MilkMan]

those investment analyst,they are so call,will gaurantee this and that but look what is happening.
i think a lot of old folks will get burnt after so many financial institutions are in trouble.
wonder what will the government do about it.

 

[eeoror88]

Kaninay lose money kaubaykaubu. Make money leh? Kaninay.

Agree with you fully, bro !!

Make $$$, clap hands, throw party, Lose $$$ cry father, cry mother, blame the cows, neighbours, society in general and gahmen !!

 

[The_Latest_H]

$200k retirement savings leh, the couple may end up in McDonalds clearing trays.

I agree. But its sad that when it comes to the issue of investment, some people go for reputation and ignore the form of the institution. Anyone who knows that Lehman was in deep m&d, and treading it would realise that they have to withdraw their investments asap.

But they didn't know until the company closed down 2 weeks ago. Still, its not entirely their fault. Any person, any low-level trader at Lehman would have re-assured the couples and many others that the company's safe. Maybe that's because they thought Lehman HQ would be rescued by the Fed government if it comes down to the worst case scenario.

 

[Leongsam]

Says about 900 people affected woh... blame MAS also too late...investment comes with risk like anything else...

A fool and his/her money are soon parted.

 

[madmansg]

they should have invested in reits for retirement steady stream of income. I put some of last year stock market bull run profits in reits and collected divendend. Reits also tank in the bear market but the income stream keep paying every quater. So even if reits drop by 30 to 50 percent but the damn thing will keep paying 6 to 10 percent per year for the next 50 to 100 years !!

 

[eeoror88]

they should have invested in reits for retirement steady stream of income. I put some of last year stock market bull run profits in reits and collected divendend. Reits also tank in the bear market but the income stream keep paying every quater. So even if reits drop by 30 to 50 percent but the damn thing will keep paying 6 to 10 percent per year for the next 50 to 100 years !!

Dream on ....