Action by Massachusetts Attorney General

I like to share this story about the legal action that is being taken by the Massachusetts attorney general against several large banks for deceptive banking practices. I applaud the action as it shows that there is accountability and that public officials are willing to take action to safeguard the interest of small consumers. Although American is the place where the bad financial practices originated, and spread around the world, there are still people there who have a sense of duty.

http://money.cnn.com/2011/12/01/news/economy/massachusetts_foreclosure_lawsuit/index.htm?section=money_topstories&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_topstories+%28Top+Stories%29

Singapore has followed America in adopting some of the bad practices, such as the bad financial products that were created and sold to consumers. It is time for the Singapore authority to realize that they also have a duty to the public and to stop the bad financial products from being marketed to defraud the public.