Relief for minibond investors, gloom for DBS shareholders

• Ramseth

  23 Oct 08, 15:18

  Relief for some investors….

  “DBS Group says it will spend US$53.4 million dollars to compensate some investors who bought structure-linked products of the collapsed Lehman Brothers.”

  - ChannelNewsAsia

  Gloom for DBS shareholders……

  “DBS shares fell as much as 7.8 percent to S$10.70, the lowest since July 7, 2003 on concern its compensation to customers of structured products tied to Lehman Brothers Holdings Inc. will reduce profit.”

  - Bloomberg

   

  Watch CNA video here:

  http://wayangparty.wordpress.com/2008/10/23/latest-dbs-to-spend-us534-million-dollars-to-compensate-some-minibond-investors/

   

• maurizio13

  23 Oct 08, 15:19

   

  i just came in to say au revoir.

   

  i think i know the reason, somebody wash hand liao.

   

   

• Ramseth

  23 Oct 08, 15:37

  What about those innocent grannies who are cheated of their life-savings ? Surely they deserve better.

• dragg

  23 Oct 08, 15:41

  53.4 million wont affect their results much.

  banks make at least a billion annually.

   

• angel7030

  23 Oct 08, 15:58

  Originally posted by dragg:

  53.4 million wont affect their results much.

  banks make at least a billion annually.

   

  
  better than zero, at least granny can buy a nice coffin

• xtreyier

  23 Oct 08, 16:14

  I hope that throughout all these, the relationship managers are not made the scapegoats.

   

  It was directed company policy that they were following to gain investors. We had listen to the side of the investors, some true, some suffering from selective amnesia.

  
  We have yet to hear from the RMs. Management will have to bear some form of responsibility, along with RM as well as the selective amnesiac investors.

  
  RMs are also human and our fellow citizens, not just grannies. I hope the investigations would be thorough and fair.

  
  RMs who played foul should be fired and grannies given back their money

   

  But if the RMs did not, and are fired, then it would become impossible to do biz in Spore if the customer is always right and is allowed to back out of contracts when things go wrong with their own self made choices or greed.

• Ramseth

  23 Oct 08, 20:20

  You dun need that much to buy a coffin.

• GHoST_18

  23 Oct 08, 20:21

  singaporeans are forever living a sheltered life...

• maxtor

  23 Oct 08, 22:35

  Originally posted by xtreyier:

  I hope that throughout all these, the relationship managers are not made the scapegoats.

   

  It was directed company policy that they were following to gain investors. We had listen to the side of the investors, some true, some suffering from selective amnesia.

  
  We have yet to hear from the RMs. Management will have to bear some form of responsibility, along with RM as well as the selective amnesiac investors.

  
  RMs are also human and our fellow citizens, not just grannies. I hope the investigations would be thorough and fair.

  
  RMs who played foul should be fired and grannies given back their money

   

  But if the RMs did not, and are fired, then it would become impossible to do biz in Spore if the customer is always right and is allowed to back out of contracts when things go wrong with their own self made choices or greed.

  you won't hear from them one. but all i can say is that when something goes bad, you cannot just point your finger at one person and blame everything on him. it takes 2 hands to clap but i sympathise with the RMs because it appears that both the bank and the bank's customers are putting all the blame on them.

• Ramseth

  24 Oct 08, 11:52

  I doubt the RMs even know what they are selling, but somebody has to take the blame, so too bad for them.