Wednesday, October 29, 2008

Be empathic to investors who lost their savings

Dear Mr. Tan,
I am a victim of the structured product. I get the impression that many people who are not directly involved said that "the investor should be blamed for buying the product. They should check carefully before they buy the product.

Even our Prime Minister has the same view. Can you help us to pass the message to the PM about why and how we were deceived?

REPLY
I will be happy to meet with the Prime Minister, if he is free to see me. I have spoken to some of the people who held this view - that the investors should not be compensated for their loss, as they wanted a higher return.

In the conversation, it was clear that they were not aware about the nature and risk of the product, and how the investors were deceived. After I told them about the product, they become sympathetic to the investors.

I like to ask other people who hold an unsympathetic view, to watch this video:

http://www.youtube.com/watch?v=fRFq6mJhOiw