High risk of credit linked notes, inadequate return

Dear Mr. Tan,

Here are a few pointers you may want to use in your talk on Saturday about investors going in with their eyes open.

Any rational person if he is made aware of the risks in the Minibonds will never but it for the simple reason that the interest rate is only 5% compared with dual currency and equity Link investments which offers up to 22% with lower risks. In the worst scenario we just have to be converted to the foriegn currency or pick up the normally blue chips share. The risk is certainly less than that of minbond.

In short, we were hoodwink and MAS who is supposed to safeguard its citizens have allowed this toxic product to be sold through their negligence or ignorance. I have been told by unconfirmed sources that a certain rating agency refuses to rate the credit linked notes, but they received veiled threats.

I am quite sure the town councils who lost money did not understand what they were buying but are too embarassed to say so. After all it not their money but the taxpayers.

Keep up the good work

VK