Seminar for Minibond Investors

A seminar, titled " Minibond Victims: The Way Forward In 2009 " will be held soon. The details are:
   
                                      Date:  Tuesday 30th December 2008
                                      Time: 7 to 9 .30 pm (registration starts at 6 pm )
                                      Venue: Singapore Polytechnic Graduates Guild House
                                                      1010 Dover Road Singapore 139658
                                      Admission: Free (Register online here)
                                       (Click here for a map to locate the SP Guild House ) 

The agenda for the evening:

                                        - Welcome 
                                        - Introduction (Mr Tan Kin Lian)
                                        - The Way Forward: The Plans For 2009 
                                        - The National Minibond Data Collection Exercise 
                                        - The Start Of Legal Efforts: Leonard Loo
                                        - Q & A

Don't miss this important seminar as the legal efforts to protect the interests of Minibond customers get into full swing! Mr. Loo has confirmed that he will have a Senior Counsel (SC) on board his legal team so come down and listen to his deliberations. 

Register early for the free seminar  as there are only 250 seats !(please ensure you have registered with the Minibond Group before you participate in the seminar).

Thought for the day - the world is a dangerous place

Contributed by Ho Cheow Seng

"The world is a dangerous place to live; not because of the people who are evil, but because of the people who don't do anything about it." -- Albert Einstein

 

The fallen giants of finance

http://www.ft.com/cms/s/0/b2247e62-d02f-11dd-ae00-000077b07658.html?nclick_check=1

By Fang Wang, Steven Bernard, Joanna Chung, Saskia Scholtes, Greg Farrell and Francesco Guerrera
Published: December 22 2008 19:21 | Last updated: December 24 2008 18:10

The search for scapegoats in the worst financial crisis since the Great Depression is under way. As one financial group after another has collapsed, wiping out thousands of billions worth of value for investors, a plethora of investigations by prosecutors and regulators has been launched.

Federal officials have opened investigations into at least 25 large companies, including Lehman Brothers, the collapsed investment bank; Fannie Mae and Freddie Mac, the mortgage financiers taken over by the government; and Washington Mutual, the biggest bank to go under in US history.

Investment banking league table 2008 - Dec-22

Subpoenas have been handed down in some cases, including Lehman and Fannie and Freddie. Prosecutors, along with officials at the Securities and Exchange Commission, are trying to determine whether managers misled the public about the financial condition of their companies. Defence attorneys are likely to argue that companies, as well as their individual directors and executives, cannot be blamed for the unprecedented market turmoil. “One thing we know for certain is that stupid choices were made by hundreds of businessmen but that is not a crime. Some executives may have been overly optimistic but so were a lot of people,” said Daniel Richman, a former federal prosecutor in New York’s southern district and now a Columbia University professor.

The subjects of these profiles, or their spokespeople, were contacted for this article but declined to comment. Compensation includes cashed-in share options.

Attention: Pinnacle Note Investors

THE PRO TEM COMMITTEE OF THE PINNACLE ACTION GROUP WISH TO MEET ALL PINNACLE NOTES HOLDERS THIS SAT 5PM AT HONG LIM PARK.

 

WE WISH TO SEEK YOUR SUPPORTS TO EXPLORE ALTERNATIVE WAYS TO SEEK RELIEF FOR LOSES

INCURRED BY THIS FAILED PRODUCT.

 

THE CO-OPERATION AND UNDERSTANDING OF ALL INVESTORS CONCERNED WOULD BE MOST APPRECIATED.

 

FOR THOSE WHO ARE UNABLE TO ATTEND, KINDLY EMAIL YOUR PARTICULARS (NAME, NRIC, EMAIL ADDRESS, AND TELEPHONE) TO:-

 

pinnacle.action.group@gmail.com

 

Chan JC

Meeting at Speaker's Corner, Sat 27 Dec, 5 pm

A meeting of investors of the credit linked notes will be held as follows:

Date: Saturday 27 December 2008
Time: 5 to 7 pm
Place: Speaker's Corner, Hong Lim Park

Agenda
1. Update of complaints to financial institution, FIDREC
2. Update on collective legal action
3. Speech by lawyer organising the class action

This will be the last meeting to be held at Speaker's Corner. Subsequent meetings will be organised by the group leaders for the various notes, and will be held at other venues.

Please turn up for this last meeting.

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Details of 150 CDOs still not available after 3 months

Dear Mr. Tan

I don't understand why after more than 3 months of Lehman Brothers bankruptcy, the following basic, but important information are still not available to the minibond holders :

1) the identities of the 150 CDOs
2) how many credit events already happened out of the 150 CDOs ?
3) how many of the 150 CDOs are on the danger list (about to fail) ?
4) an estimate of the current values of the minibond notes.

If a group of financial experts (from HSBC & MAS) cannot provide these basic information after more than 3 months of Lehman Brothers bankruptcy, it is hard to believe that the ordinary investors could have invested with their eyes open.

P

REPLY
I agree with you, but it is better for you to write to the media or to MAS. MAS should be the party that reply to this type of question.