September 29, 2008

Alternative view

Tattooed Banker said:

My personal view? Most of them are probably the liars themselves. I would presume that an internet savvy person in Singapore would be able to read english right? They are just lazy, not to have read through the documents when given, not to mention greedy. The simple saying as always is that if something is too good to be true, it probably isnt true. Greed overtook their logic. Now when things go wrong, they started pointing their fingers around at the bank, the bankers, the MAS for not doing enough. Basically everyone but themselves.

Recommended by Anonymous Coward: "while everyone is complaining about how they or someone they know have been cheated by the banks, i think its time we take a good look at ourselves first"

Link

Submitted by Anonymous Coward on September 26//7:14pm and published by jseng, tinkertailor :: add new comment | 977 reads | trackback
Comments 2

So how will the tattooed banker explain the Relation manager style of selling a financial product?

And why they like to ask retirees who have the money to invest their life saving to invest in such risky "Financial Product"?

Posted by Anonymous Coward* on 29 September, 2008 - 11:38am

No doubt some of those who lost their money went in with their eyes wide open. However, there are many who were "cheated" or misinformed by their relationship managers (aka salesmen). Come on, who in the world will read a 30 page thick document ? I think most of us wouldn't because we trusted these financial institutions. Also, many of these structured products are so complex that no layman could possibly understand how they work, and they trust that their relationship manager would get them the right product. Luckily I steered clear of anything that's not as easy as 1-2-3.

Remember, its not just the retail investors that are the losers. Many investors have also lost their trust in these banks. Good luck in trying to get people to invest their money or put their money in your bank in the future.

Wonder why this fella called himself a banker. Looks like any tom, dick and harry call themselves bankers nowadays... Last time, they need to own a bank to call themselves that.

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