Why did people buy minibond in the 1st place?

[JinGanKor]

1) super low bank saving interest which is almost no interest.

i am not sure about other country but i remember aus bank give 8-9%, and if there is a need to transfer the money out of the country, it will be only 5-6%.
(need some expert here to correct me since it is my sis aus account and not mine.)


2) high inflation, non-stop hikes in daily expensese causes the worry.
with the ultra low interest and super high inflation, interest on saving is not really helping, even fixed deposit. But not all people know how to invest, so they would like something in between, with higher interest but still safe.


3) Structured products approve by regulator.
since it is approved, it should be safe la. this place so peaceful, no riot no protest, everything should be ok. thats the kind of mentality.


4) sold by local bank that is linked with the gahmen
so it should be safe, if not safe how can they sell such product? DBS=POSB=Gahmen leh.

5) Relation Manager assurance.
They will tell you dont worry, it is protected. But never tell you protected doesnt means 100% safe. And they did not tell you the worst scenario that could ever happen, instead they paint the best outcome to you.

So who should be responsible?

 

[R4g3]

in fact there are already alot of complains to the authority during 2006-2007. just that they jiak liao bee.

 

[Leongsam]

1)

So who should be responsible?

People purchase high risk financial products because they're greedy.

They are only too happy for the chance to pocket the profits but go crying to the govt when they end up losing money.

They deserve to lose every penny they have.

 

[tiulehloumoh]

1)
So who should be responsible?

The brainless buyer should be responsible lah..... no body can force a cow to drink if it don't what rite....... this is all due to greed.....
Don't believe in every thing people tell you, use your brain.... and if you insist on believing, dont blame other hor.......

 

[eeoror88]

The brainless buyer should be responsible lah..... no body can force a cow to drink if it don't what rite....... this is all due to greed.....
Don't believe in every thing people tell you, use your brain.... and if you insist on believing, dont blame other hor.......

Exactly my sentiment.

If investment make money, celebrate eat abalone, drink champagne, lose money, cry father, cry mother, blame cows, blame neighbours, blame society and also gahmen !!

 

[Ramseth]

Relying on the so-called protection in structured capital protected investments is like believing that NSmen can protect Singapore. When nothing happens, you can sleep soundly with or without the protection. When something happens, then that's the test of how sound the protection is.

Lehman Brothers' senior executives and managers are all very rich and safe, just like Singapore's ministers and senior civil servants, with or without collapse of the protection. The investors and citizens would most likely be left in the cold fending for themselves or screaming for help.

 

[TeeKee]

So who should be responsible?

SATAN! He put greed into people!

 

[Zombie]

SATAN! He put greed into people!

GOD! He put ignorance into people!

 

[TeeKee]

GOD! He put ignorance into people!

wrong! you are ignorant!

God gives wisdom to people!

 

[Zombie]

wrong! you are ignorant!
God gives wisdom to people!

But you are not that wise afterall. :p

 

[R4g3]

There isn't much option nowadays for those who doesnt know how to invest. The basic saving method doesn't work anymore, with almost no interest and facing high inflation.

btw what are the interest rate for other country? anyone knows?