how did the MAS screwed up this time? the last time i've read,
even the "smartest" investor would have recommended the Lehman
Brother's minibonds as the safest investment one would have
made.
MAS didn't expect it to be a piece of cr*p until the economic
went down. let's put it this way, all the guys running the banks
are smart "alex's" and seriously, they are the cream of the crops.
if they find that the investments and the products they are selling
are flawed and eventually will cause the company to lose lots of
money, they won't sell.
who would? also, MAS adopted the "non control" policy in banking
sectors. if they have to scrutinize every investment
plan, then the banks will complain that MAS
is trying to have control and monopoly over their bank's
operations. they won't be happy too.
so truly, you can't please everyone.
Pray do not tell me you are one of those fucking RMs mis-selling in
banks to hit personal quotas.
In terms of these structured products, banks don't lose, only
consumers do. Truly smart alexs eh. How much do you understand
these anyway before you comment here? Key here is mis-selling,
not scrutiny of every investment product. Such structured products
do not suit the unsavvy investor and risk profile of the
average auntie or uncle.
Even the smartest investor would have recommended this product?
Are you sure? Show me proof that anyone said so when the sub prime
crisis was already brewing.