The sudden and abrupt closure of MF Global has caught many Singaporean investors by surprise. And many are in panic mood, with open positions that may turn to become big losses in their CFD trades. These are complex derivatives that used high leverages for big gains or big losses.
Investors with cash deposits with MF Global are also extremely worried as it was reported that the company actually used their client’s funds to make big bets in European sovereign debts. It seems that there is a high possibility that Singaporean investors’ money are also taken out to feed the company’s gambling in Europe.
The MAS has come out to assure the Singaporean investors that they are doing all they can to protect their interests and investments. Singaporean investors should not be unduly worried as we have the best and most stringent regulations in place to protect their investments here. Though the scoundrels are the same, the derivatives and products are the same, the modus operandi are the same, as those in New York and Europe, our stringent regulations are also in place to protect our investors.
Investors should relax and everything shall be fine.
14 comments:
I can't help but wonder if our GIC and/or GH made any investments through this MF Global whether relating to the EU debts or any other investments.
Oops, typo error, should be TH not GH.
No idea. But they may want to put out some money to help the European banks when approached again.
Never trust MAS. Learnt a painful lesson from the collapse of the toxic structure product which MAS approved blindly and cost many investors dearly.The greatest insult was names like Temasek,Spore Telecom, DBS and many more local conglomerates were used as Reference Entities to lure investors to park their money.
Need not worry for those who like to invest.There is no Garmen regulation to say that one must take the risk.So crisis or not,blame no one.
Be a gentleman.Dun make money,diam diam,lose money kpkb.Where got such thing.
What is god for? Amen.
Gods are there to forgive all the sins and stupidities.
patriot
Manarata, Amitabha, namo-oni-tofu.
Thou are forgiven.
Dear Gong Gong Kia @ 1.27pm.
Then why are we paying such high salaries to our politicians for?
Just to say;
"It's happened. Let's move on."
"It cannot be helped."
"What do you want? 3 meals in a hawker centre, a food court or a restaurant"?
Politician - Be a gentleman.Dun make money,diam diam,lose money kpkb.Where got such thing.
Good article, RB. It's a joke how the government tries to allay fears with published statement in Reuters like they will protect local investors re: the MF Global collapse. I dimly remember local investors are still reeling Lehman Brothers saga, with the latest news that they were snubbed at an Appeals Court.
*rolls eyes*
Kaffein
Anon 3.21
Latest update "We cannot please everyone"
Our government has not learnt a lesson. MAS has not learnt a lesson. Why does MAS still continue to allow ponzi schemming companies to operate in Singapore and worst still operate from SGX. The government and MAS should be held responsible for Singaporeans who lose money in investing in big American ponzi banks. By this time Singaporeans should know it never pays to invest or deposit money or savings in American banks or American financial institutions. They are all operated by super rogues, crooks and scoundrels and they have support from their counter parts in the American government.You can't differentiate the crooks and scoundrels in the business world and the crooks and scoundrels in the American government . They all cover for each other. They not only cheat and swindle the American people but also the whole world at large. When their country go under because of their extreme greed and corruption they easily put the blame on others. How ridiculous it is for them to blame Asians for saving too much for their economic and financial woes.It's time the world especially the Asians and Africans stop trusting the White Americans and the Europeans. Do not deposit money in their banks. Money deposit in their banks is as good as money going down the drain.
Southernglory1
How many casinos does Singapore have? On the surface there are two. But people say unofficially there are three. They say SGX is Casino de Grandeur . It is the Casino Royal of Singapore. It is easy for shady western companies to list in SGX. It is even easier for western crooks and scoundrels and unscrupulous western syndicates to speculate and rig the stocks and shares in Singapore for their own benefit. Who is there to stop these western crooks and scoundrels from operating in SGX as a casino?
Singaporeans beware, don't expect MAS or the government to protect your interest and remember the chief of SGX is a foreign talent. This foreign talent had already caused SGX to lose fifteen million dollars for nothing in a failed take over of Australian Stock Exchange. In the course of this sham take over of ASX Singaporean investors must have lost hundreds of millions of dollars when foreign syndicates manipulate the shares of SGX either way up or down to their own advantage and benefit.
Southernglory1
And here lies the BIG Problem; the corrupted dictators parked and hid their loots in places other than keep and or use them in the very countries they ruled.
And this is where I say they deserve to be removed, punished and sentenced to death, including execution without been charged. These rulers not only had deprived the countries they ruled of national wealth, they had impoverished their very own countrymen. This is unpardonable crime.
Then comes the UNPARDONABLE SIN and that is having loots and wealths which the corrupted rulers and their kins never will have the time and life to use. ALL THOSE MONIES(kept unused) are as good as destined to waste. It is a GREAT SIN to waste anything useful.
Anything useful that is wasted is a GREAT SIN and any perpetrator of such waste deserves the most horrendous death.
patriot
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