http://www.martinlee.sg/merrill-lynch-jubilee-series-8-notes/

i have bought jubilee series 8. anxious to know fate of the notes now.

thanks

The banks’ move to compensate vulnerable investors first after they were urged by MAS to “do the right thing” has a few strings attached. Vulnerable investors will be asked to sign a statement to say that they will not participate in any lawsuits against the banks for mis-selling. The existence of vulnerable investors is the best evidence that widespread mis-selling has occurred. Divide and conquer. The best way not to pay everyone fully is to pay some people first – the vulnerable investors are called “deserving investors” in various press release. So what does that make the rest of the investors? Drag the compensation process, case by case, by then the protests would have died down – with the old aunties compensated, the sympathy of the public would wane and the govt will try to move on. Like I said in my earlier posting, our victims are lucky that the same product was sold in Hong Kong. There will be some pressure to apply resolution is arrived at in Hong Kong – if they compensate everyone there, hopefully everyone here is compensated. The Hong Kong govt has taken a hardball approach against the banks with investigations, threats of sanctions etc they have pledge to do everything they can to bring justice to the victims.

I’ve heard no such pledge from Lim Hng Kiang – just this denial of responsibility: ‘So MAS has never said that these are risk-free products or low-risk products or safe products”- Minister Lim Hng Kiang

For full article, go to
http://singaporemind.blogspot.com/2008/10/cds-weapons-of-financial-mass.html