At least, a sleeping government may still have a conscience after they wake up.

I think all our sufferings are already factored in as collateral damage for Singapore’s progress and PAP’s continued longevity.

With so many aggrieved investors crying for help, Sadly to say , MAS and our million dollar ministers still have not waken up.

If we don’t trust big org., if we refuse to sign according to their terms, then a lot of things cannot be done.
This will have profound implication in time to come!!!!!!!!!
There is a tacit understanding, we hv no choice but to trust you, so we shd be treated fairly. Now this is not the case. Now the tacit understanding is broken. It may hv serious implication.

Not logical to compare those RMs with grocery store owners.
How about comparing them with pharmacists?
Just buy a $13 cough mixture from them, they will explain to you the effectiveness of it, AND ALSO ITS SIDE EFFECT(drowsiness, addictive, potential allergy etc etc).
Most RMs are well educated, usually university graduates of financial/business studies. At any one time, the most they have is about ten financial products to promote.This is many many times less than the hundreds of products a pharmist needs to explain to customers.
These RMs cannot claim that they themselves also don’t understand the real dangers of these lehman products.
It is their responsibility to explain them honestly,thoroughly & clearly to their customers, most of them unfamiliar with financial jargons. In dollar term, Mr. Ng’s purchase is >1000 times more than the cough mixture.Surely he deserved more care.
The RMs have only 2 reasons for not doing so. One is vested interests. The other is they themselves did not go through the prospectus thoroughly. That’s why some of them also sold the products to themselves & family members(害人害己）

To be fair, I do believe that not all RMs are unscrupulous. There must be some honest ones around.

.

Sad story: We have too much trust in our banking system so we tends to let down our guards – another lesson learned but it is a very expensive lesson for all of us.

I had the same experience with RMs of DBS bank. I was holding FDs with the bank of about 200,000. I am a 48 yr old housewife.

Basically the same stuff as Mr Ng’s RM had said. No risk, high yield deposit. Better than my current FDs. This was stressed many many times.

The difference is, I did not change my mind despite her many phone calls and meetings. I did not like such hard selling techniques and I felt being pushed.

I think Mr Ng should continue to fight for his rights on some degree of compensation.

I felt that DBS bank should be penalised at least, for encouraging unprofessional conduct amongst its employees.

MAS should do something.

You are right and most of the public know that. But our world class leaders act blurr and reluctant to investigate. What can we do?

He was rejected because there is no concrete evidence that his story of how he was sold the product is true.

Is this the same fate of others who lost money to minibond? Heard many rejected cases.

江湖险恶。。。

aiyoyo

next time must really open eyes big big when visit financial places

(better to bring along magnify glass)

Spare a thought,will ya?

These lehman things is a scam. The propectus is written in such a way making most victims(including the experts from town coucils) unable to detect its traps.

Don’t expect those unscrupulous RM to give you an honest explaination.
The more trusting and naive you are, they will be more prosperous.
Lions don’t warn their preys they are ambushing on.

Mr. Ng, 祝您好运 !

sue DBS is as good as suing MOF … thats y they know that nobody dare to do so thus they can force it down these small individuals throats

we have put too much trusts on the government which hurts us back in many ways

after see Mr Ng case,

worry for old folks also,

wait RMs dont want young people,

instead go for old folks…

aiyoyo

Why…scared they’ll stalk you home :)

I don’t think Mr Ng is living in a landed property. The premise most probably belonged to one of the media crew members. At 2:03min, Mr Ng said that the S$150,000 lost is originally meant to cover to loan for his own HDB flat. In another words, Mr Ng is living in a HDB.

next time go banks

need to siam the RMs???

aiyoyo