it began in 2006 when US investment banks were saddled with mortgages and corporate debts that were turning bad.
“They had to get rid of these assets.”
They looked for countries with weak protection of consumers which were convinced about the merits of using “the light touch” to regulate the financial sector and encourage financial innovation.
“They found Hong Kong, Singapore and Taiwan,” said Tan.
As a result, some 10,000 Singaporeans, many of them retirees, lost S$500mil (RM1.2bil) of their savings to what they were led to believe was a “safe investment”.
So far, only a fraction of the money has been recovered.
If you want to be like switzerland, u need to take the bold step, u need to have a banking system that provide total top service provider without question.
As a businesswoman, if I won 1million in illegal betting and gambling, I go to DBS to deposit, is that wrong? Is DBS going to search my whole family assets?? ask this and that?? if so, i can go away and put in Maybank or HSBC or even Swiss bank, no question ask, somemore u get very well served with handsome banker and for guys, nice lady banker...so, in a competitive world, you need to be bold and free up your rules and regulations if you really want to be a market player in banking. Otherwise, if this deposit cannot, that transaction cannot, you better close shop and go back to do money exchange like mama doing
Originally posted by angel7030:If you want to be like switzerland, u need to take the bold step, u need to have a banking system that provide total top service provider without question.
As a businesswoman, if I won 1million in illegal betting and gambling, I go to DBS to deposit, is that wrong? Is DBS going to search my whole family assets?? ask this and that?? if so, i can go away and put in Maybank or HSBC or even Swiss bank, no question ask, somemore u get very well served with handsome banker and for guys, nice lady banker...so, in a competitive world, you need to be bold and free up your rules and regulations if you really want to be a market player in banking. Otherwise, if this deposit cannot, that transaction cannot, you better close shop and go back to do money exchange like mama doing
go to hell. Business works on reliability and moral ethics. Once this status quo is upset. Then u can kiss yr business good bye..of course the banks ask yr asets when loaning u $$ but selling defective banking products , why in asia and not in other parts of Europe or US, because this banks are afraid of lawsuit which cost them millions.
When i deposit $$$ in yr bank and when yr banks say that i will make $$, yr bank better deliver the service to customers.
Originally posted by ☃®:go to hell. Business works on reliability and moral ethics. Once this status quo is upset. Then u can kiss yr business good bye..of course the banks ask yr asets when loaning u $$ but selling defective banking products , why in asia and not in other parts of Europe or US, because this banks are afraid of lawsuit which cost them millions.
When i deposit $$$ in yr bank and when yr banks say that i will make $$, yr bank better deliver the service to customers.
Business works on reliability and moral ethics, you must joking, no wonder singapore cannot produce good and strong entrepreneur, only adminstrator.
Our people are not shrewd enuf to handle the world economy, i think it need to brush up abit. You open your door for business, every customers is gold to you. Peoples can alway set up a business entity here, transfer money from their homeland or somewhere else, deposit in Singapore using the business entity name. Are you going to reject this deposit when you are a pro business economy? Ethical wise, what have u done wrong, business wise, money in your hand, what reliability are you talking about. Get real lah, you dun take the customer, someone will, you operate a bank, not a political fund raising ya. U have to drawn a line btw that in order to understand what is business and what is POLITIC!!!
So what? Is the DBS or other singapore banks going to get sue for it? If i sell mee hoon, i dun care who you are, as long as you paid, i pack it up for you with a smile. So why nobody said about Switzerland banks? aren't the banks there full of bad loots from cheating and siphoning out of poor and innocent people?? instead people are praising their services and the country standard.
there is a difference in running a bank and a bar...
there is also a different in running a 7th month ghost festival and Moon Cake festival
☃® is right. it was a scam all the way.
I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.
Thomas Jefferson, (Attributed)
Does this ring a bell?
A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain.
Mark Twain (1835 - 1910)
A bank is a place that will lend you money if you can prove that you don't need it.
Bob Hope (1903 - 2003)
Originally posted by flapdoodle:Does this ring a bell?
ya Taco Bell fast food or Church bells?
A Bank is the side of a river.
Originally posted by angel7030:
ya Taco Bell fast food or Church bells?
A Bank is the side of a river.
A horny angel with registration 7030 deserves to be behind Bars for the psychotic display twice a day.
Originally posted by Atobe:
A horny angel with registration 7030 deserves to be behind Bars for the psychotic display twice a day.
sori, all day hor...u sleep lah
Originally posted by angel7030:
ya Taco Bell fast food or Church bells?
A Bank is the side of a river.
seriously i think u should stop meddling on yr i-phone and Macdonald;s WI-fi /3G too much
A Bank is just another type of legal loan-shark.