Posted by: bigtalksingapore | October 18, 2008

Singaporean protest against banks at Speaker Corner, again.

Now, some Singaporean are really pissed.

Seldom do we see protest in Singapore.
More seldom do we see protest in Singapore over two consecutive weekend.

Hong Kong Association of Banks have agreed to buy back the mini-bond at market price, so it’s a load off Hongkee minds (See News cutting #1).
But some Singaporean would still be having sleepless night over their life saving.

Below is a video clip of the protest on 18 Oct 2008 at speaker corner.

Just to summarize on the situation…

  • Singapore MAS (Monetary Authority of Singapore) is finally going to investigate if there is any wrong doing by the banks, after hundreds of investors make formal complaint (See News cutting #2).
    .
  • Independent parties (don’t know who) appointed by MAS is focusing on cases of mis-selling to vulnerable consumers.
    If you’re not above 55 years old, little education, cannot speak English, blue collar worker and only invested in only one product, then you’re not vulnerable and should start considering MBA (Money Blown Away)  (See News cutting #2).
    .

News cutting #1: Today, 18 Oct 2008, Page 2

News cutting #2: Today, 18 Oct 2008, Page 1

News cutting #3: Today, 18 Oct 2008, Page 3

Youtube #1: Protest at Speaker corner on 18 Oct 2008

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