Yesterday evening, more than 600 structured product ‘investors’ met up at Hong Lim Park for a gathering. I suppose that was the biggest turnout ever at Speaker’s Corner.
Mr Tan Kin Lian and Mr Leong Sze Hian addressed the crowd for a while before breaking them up into their respective groups.
I found it an irony that in “Speaker’s Corner”, proper speakers were not allowed to be used. Instead, a small mobile amplifier had to be used. As a result, many people in the crowd could not really hear the speech properly.
As expected, the event was widely covered by the press and online websites. I have provided links to their stories below. Quoting a line from one of the reports:
A few elderly investors broke into tears saying they had lost a large portion of their retirement savings.
When I read that, I couldn’t help but shed a tear as well.
Sadly, there are still people who did not know they had lost money up to now. Some people depended on word of mouth to know about the Hong Lim Park gathering. How are these people going to initiate the dispute resolution process as prescribed by MAS?
If they can’t get their family members to help, they might have to seek help from their MPs.
Saturday, October 11, 2008
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