1/19/2009
Minibond investors happy?
About 50% of the investors that lost money in the minibond fiasco will be compensated or have been compensated. This looks like good news. Tan Kin Lian also commented that it is reasonable and the investors should not expect the banks to cough out the full amount as compensation.
What amount of compensation is enough? Or should the banks even compensate the investors? The issue should not be compensation and how much. It should find out if it is a case of fraud, a crime or just a normal business. If there is no crime, no fraud, then there is no issue of compensation. But if fraud or crime is involved, the compensation should be in full and the guilty be punished under the law.
Or are we to take the position that a cheat that cheated people of $10m and returned $5m then those cheated should feel happy and should be grateful that they got some money back?
What is the real issue? Has crime or fraud been established or will it be established? It is so pleasant to cheat Singaporeans.
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6 comments:
If not for what happened in Hong Kong, I am not sure whether DBS here will even talk about compensation. They obviously know that by compensating investors in Hong Kong, they can't avoid doing the same in Singapore.
true. and don't forget the contribution of singapore's own lian shan hero and heroes : )
Redbean,
Do not be deceived,
the government can even claim 101% compensation if they can just compensate $10 dollars for to every investors irrespective of their loss due to the scam job of DBS, MAS and FI here. How much are these investors been compensated and actually received the it are more important than whether they are compensated in first place.
Observe that the ShittyTimes fail to mention how much compensation is given to the investors, and just happily provide those 58% to hootwink the public into thinking that the case is resolved.
these investors should count themselves lucky to get some money back.
for those who are not compensated, tan kin lian is still working with them. they better be grateful should they get something back eventually.
To Matilah Singapura: There's no need for foul language here. It only reflects badly on yourself.
I agree with Anon 2.48 pm 19th.
It would be interesting if we can compare the compensation DBS dished out in Hong Kong. Could Hong Kong investors be given a better deal than Singapore investors in terms of compensation? Just wondering!
Lost Citizen
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