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LoginDBS HK willing to compensate Lehman minibond holders in full
34 posts
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Friday, October 10, 2008 SCMP Today DBS offer full compensation to mini-bond holders Report by: Michael Logan |
DBS Bank in Hong Kong has said it will offer full compensation to customers who bought mini-bonds issued by Lehman Brothers. Customers only need to prove to DBS that DBS staff misled them during the sales process (0:23).
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Originally posted by reyes:
the lehman related funds amount to HK 15billion. how much was that belong to DBS? haha if singapore also pay back 100%, DBS is in deep deep shit.
anyway, Temasek of GIC will bail them out using but possibl taxpayers money.
Hike fuhrer!!So my fuhrer, is 21% increase enough or you want some more, we can announce it 50% increase if needed. Dun worry, my fuhrer, no one will go against you, our SS agents are place all over, any revolters will be send to the gas chambers.
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"If you can proof that you are cheated or misled by DBS staff."
Which means that DBS can still dictate as to who gets the compensation based of their objective scrutiny to who has been cheated off their money, and there are bound to be claims rejected. Which means lots of litigation, meaning more money spent, and some of the poor uncles and aunties who have lost all their money and as such not able to afford legal representation over the long run, might still not got back their money in the end as they do not have the means to pursue their claims, unless of course the govt or some watchdog steps in and provides legal representation to claimants who cannot afford one.
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Originally posted by Rock^Star:
What price have we paid for banning protest marches? HK did it and they are going to be compensated.
What price have we paid all these years for giving up some of our constitutional rights?
What price are young pple paying for political apathy?
Very simple, given enough people, the guards at our armouries can be overwhelmed and weapons passed on to the mob.
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if they compensate those ppl who invested into minibonds for the wrong investment decision.. then they will be using taxpayer $$$ to bailout these ppl...
next we will have anothr grp of ppl goin on demostration for using taxpayer $$$ to bailout other ppl wrong investment decision..
its unfair to say they dun know the risks etc.. back then who will expect big banks like lehman to go under? now things happened then they start to ask for refund... if nothing happened.. r they going to share their profit/interest with everyone???
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Originally posted by parn:
If got proof, can go sue them already.
What for need to convince them?
Why they never hire smarter people to work for their banks?
So now you all know paper talents aka PhD holders are all Re-packaged TRASH.
Depends on what kind of ph.D holders you hire.
And if I remember, at times, CEOs and owners of banks don't HAVE a ph.D
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Originally posted by alfagal:
[Customers only need to prove to DBS that DBS staff misled them during the sales process (0:23).]
i think..this is e trickiest part...declare such news might as well dun delcare..
correct, that's the trickiest part.
though i sympathise with those affected i feel that they can't blame the bank entirely for whether or not they were told that those investments were lehman-linked they would still buy as they were attracted by the higher returns.
lehman was once a very solid bank with a long history. no one would expect it to go bust suddenly.
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