I'd been reading blogs that rant about the numerous people, particularly the man-on-the-street who'd been allegedly "cheated" by the conniving and scheming financial advisers, relationship managers and sometimes even counter tellers that sold high-risk financial products to housewives, old grandmothers who'd been "robbed" of their life savings.
One of the more prominent bloggers writing, ex-Income chief Tan Kin Lian had espoused reporting these cases as fraud to the Commercial Affairs Dept instead of just complaining online so that it can be acted upon.
Will CAD act? MAS has already adopted a "buyer beware", and it'll probably stay that way if there's no undue external pressures to change their position.
Singaporeans have generally been a molly-coddled lot - complaining to the government about this and that; isn't it about time we took responsibility for our own actions?
Have we been too trusting? Was Grandma cheated by the tellers or did Grandma sign because she heard she could get an additional $50 worth of 'interest'?
When do we start thinking for ourselves?
" If you think the road is not safe, then don't cross;
If you need to cross, look for the traffic light;
If you can't find one, ask for help to cross;
If you trust the help, you can decide to cross;
If the help you get is screwed, who do you blame? "
