Friday, November 21, 2008

Complaints in Hong Kong and Taiwan

Dear Mr. Tan,

I have found these links in youtube.com : MiniBond saga in Hong Kong

http://www.youtube.com/watch?v=ICtDCRVqPqI&feature=related (part 1)
http://www.youtube.com/watch?v=j9ykXyDj3zY&feature=related (part 2)

They explain in Cantonese on how difficult it is to understand the products. I think these clips will be helpful to explain some facts to the old folks, and those who still don't know what has happened to cause BIG losses to their investments.

Here is an explanation in English:

http://www.youtube.com/watch?v=iV0YiTl6ea0

After spending many days of searching on Google, Yahoo, Youtube and most importantly reading your blog, I still don't understand the operation and structure behind the product that I bought. I strongly believe that most of the RMs don't know that their products are in fact so risky and the reward is not in the fair proportion to the risk.

To be fair and kind (as all Singaporeans are), I think these RMs are also very stressful now to be involved in all this "mess".

My wife told me that in a Taiwanese news that she watched last night, mentioned that angry, distressed and fustrated investors are crowding around a bank to demand for refund. The Structed Deposits saga in just beginning in Taiwan as more and more Taiwanese investors start to realise about the real truth behind the painted truth.

I take this opportunity to thank you for posting my previous email to you in your blog (RE : Mental health concerns during difficult times). My wife and I are so touch that at least there is a place to air our sadness as it is extremely unhealthy to bottle up these negative emotions.

Of course, I agree with the replies/comments to my post that we should do it in a constructive and sensible way. Life still has to go on. And that is the main reason motivating me to write the post on mental health.

Last but not least, I hope that more people as knowledgeable, righteous and selfless like you will stand out to help the distressed ones. Wishing You Great Health, Strength and Happiness.

GOD BLESS ALL !

FO