3/28/2010

The fall guys are usually the small guys

The Hongkong authority have arrested two female employees of Bank of China for selling the Lehman Minibonds 'on suspicion that they had fraudulently or recklessly induced others to invest money.' This Lehman fallout is becoming a joke in the whole wide world. Only the small guys got caught and no one else. What about the people who created this scam? Oh cannot call it scam. It is sophisticated financial instruments thought out by the best talents in America, for sophisticated clients with the knowledge, intelligence and appetite to lose big. So the note creator is innocent, the banks who allowed the notes to be sold are innocent, the regulators too are innocent. Only the small salesmen and saleswomen are guilty. This must be the bigger scam than the Lehman Minibond scam itself.

4 comments:

Wally Buffet said...

Surprised?

Certainly not.

In loan sharking, it's usually the so called runners who get caught and get a few strokes of the rotan on the backside. A great story to tell their grandchildren in their twilight years. Of their misplaced bravado in harassing innocent bystanders for a few miserable dollars or a short moratorium of their debts which they incurred feeling high on delusion in our casinos.

The real brains behind the scourge? They're probably sipping Cordon Bleu, nibbling on caviar and fondling their sex toys somewhere high up over the skyline of this city.

Anonymous said...

It never fail to baffle and surprise me that the PEOPLE IN THE JUSTICE SYSTEM IN SIN comprising the LAW ENFORCEMENT AGENCIES, THE JUDICIARY AND THE CABINET MEMBERS (were)/are not able to see JUSTICE or the LACK OF IT the way we laymen see it.

Mr Bean and Mr Wally have observations that most other Singaporeans share and wonders no end.

JUSTICE MUST BE SEEEEN TO BE BELIEVED

Wally Buffet said...

Yup, you're spot on.

I wondered, am still wondering and will wonder until I reach the grave why a simplistic crime like loan sharking cannot be eradicated and consigned to the dusty annals of history. Sherlock Holmes will not take the case because it's beneath him to solve. It's so elementary that even his sidekick, Watson would smirkingly quip, "Don't waste our talents here sire"!

We eliminated the secret society scumbags a long time ago. Or did we really now........I am stil pondering over this one every morning when I sit on my throne to do my ablutions and rain my "bombs" on the incompetents who only catch the ikan bilis.

Sorry I got carried away with the rant.

Hehe.

Anonymous said...

You say usually, I say always.