NYT: Auction rate securities

The debacle hit individual investors especially hard.

When state regulators investigated the circumstances surrounding auction-rate failures, they found that some of the firms selling the securities had turned their aggressive sales pitches on small investors even when astute institutional buyers had already seen trouble and stopped buying.

Regulators have since forced many brokerage firms that underwrote or sold the securities to buy back their clients’ holdings.

Eight large and small firms have already settled, or agreed to settle, auction-rate cases with the Securities and Exchange Commission.

http://www.nytimes.com/2009/08/02/business/02gret.html?ref=business

Re-build the trust in the integrity and reputation of Singapore

I call on the banks and stockborking firms who are involved in selling the credit-linked notes in Singapore and Hong Kong to offer the same compensation to investors in Singapore that they offer to those in Hong Kong. The compensation is 60% to 70% of the invested sum, and any excess, if the proceeds on maturity exceed the amount of the compensation.

Do act early, to protect your repuation. Equally importantly, your action will rebuild the trust in the integrity and reputation of the the financial system in Singapore in providing honest dealing and fair treatment of customers. This will enhance the role of Singapore as a trusted financial hub of the region.

Tan Kin Lian

Major US financial regulation initiatives

Read this report in Reuters.

I am impressed with the fast and appropriate action taken by the Obama Administration in addressing the failure of the financial market in USA. I believe that the measures are necessary and will be helpful in creating a fairer and better financial system.

This is an example of what can be achieved under a free, democratic system that draws on the best brains from all sides and respect the views and contributions of many people.

TKL Sudoku - Challenging Puzzles

I have printed a book of 128 challenging Sudoku puzzles. It contains tips on how to solve Sudoku puzzles, explains how the puzzles are generated and also gives a history of Sudoku. The book is available for $7.90 from www.easyapps.sg/ishop. Other books on the intelligence (Einstein) quiz and shape quiz (T puzzles) are also available. Watch this video.

Please help to promote these books to your friends or buy them as gifts for your family or friends.

http://www.google.com/search?q=cheyenne+shape+quiz&rls=com.microsoft:en-sg:IE-SearchBox&ie=UTF-8&oe=UTF-8&sourceid=ie7&rlz=1I7ADBR