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7/09/2009

Minibond saga - The Missing Conscience

Greed is good. But greed with no tinge of conscience is bad. And this is the message that I would like to see to come out from the minibond saga. But no, it was totally missing. The whole scam was a business and when the product was found unacceptable, it was simply removed. There was no social responsibility or accountability. No human beans involved in the whole process except the poor losers who bought the products. I think all the decisions were made by robots, machines and computers. There must be social responsibility and accountability in business. And this applies to the management of all institutions, public or private, finance or the casinos. The next problematical institutions is the stock market. Why is it that hedge funds were not operating in the casinos? They have huge resources to fall back on to their advantage. In the stock markets across the world, the hedge funds bully and exploit the small investors by their unfair advantage of huge financial resources, technology and unfair practices. No matter how big they are, inside a casino, the advantage of hedge funds and small gamblers are the same. At least the casino has the conscience to ensure a level playing field. We have seen how the minibond saga exploded, only when the pain was too big. We have yet to see or hear small investors crying foul in the stock markets across the world. Are the operating systems and procedures in the stock markets fair to small investors? Or is it a case of caveat emptor? There must be the conscience and social responsibility to protect the interest of small investors, to provide a level playing field. An organisation or country that has no conscience to protect the small people and the disadvantaged is a lost cause.

1 comment:

Wally Buffet said...

A fool is born every minute.

Don't believe me?

Why would anyone teach you how to make millions on the FX market if they can do it themselves and laugh all the way to the bank.

Why would anyone invest in wines that you can resell back at a profit a little while later? It take years for good wine to become priceless wines in a cold dank cellar. You think you can wave a magic wand and the bottle of cheapo can become exquisite wine? WTF.

At the end of the day, if you are caught with your pants down, do the honourable thing and learn from it instead of whining how you were "conned" of your hard earned cash. If it were that "hard earned", you would be more careful with it, won't you?