Seriously yl’s post pissed me off so much that I can’t sleep.
For someone who has been living at the better side of life, driving around in daddy’s big car, investing with money from mommy and someone who has probably never lay his hands at working, to scowl at distaste at people who are seeking help of getting their money back from the failure of the Lehman Brothers minibonds, just super pissed me off.
Is ignorant a crime?
If given a choice and chance to learn about risk mangement which is like alien topic in Singapore’s education system, and if given the information they might lose 100% of their investment, how many of that 500 investors would it be now?
And for you, to not to understand people’s misery, suffering and the lost of their future retirement funds, and to gleefully tell them to stop whining, is that not a form of ignorant? Ignorant of the fact that not all people has the luxury nor knowledge of earning thousands in a couple of clicks, ignorant of the fact that there are lesser educated people in this world who earn their living with their own hands more than 8 hours a day, ignorant of the fact that how rare it is to find highly educated retirees who actually knows about risk mangement.
Being ignorant is not a crime, but to me, lack of compassion is.
Did you read the news of a paralysed man who had invested his compensation money in the minibonds after heeding a friend’s advice? Did you read the news of the old couple who had invested all their lifelong savings in the minibonds after an agent told them of only the lucrative returns? Did you read anything other than financial news that involves numbers, profits and losses?
Money is the root of all evil. But what evil has they done here? By losing their money unknowingly and unwillingly? Greed you said, but why not you said it was trust of these people who seems so sincere in helping them to earn additional interests. SO they shouldn’t trust them, they are ignorant and shouldn’t blame anyone for it, i can hear u retort.
So what. Ignorant is not a crime and the bank’s representatives have the responsibilities to ensure all of them understand each and single clause which they do not understand and of all the possible risks involved. Else what the hell are those people for? Just to dupe them into investing and earn from their commissions and pretend to care for their futures?
Not being able to understand risk management? Or not being able to understand everyday’s people’s sufferings?
Who is more ignorant?
And who were writing an entry just before to laugh at youngster of being spoilt brats. You try so hard to be superior but being superior in knowledge is nothing great. Having access to tons of information and learnings doesn’t make you more superior. With all the knowledge in the world yet I find no knowledge of real poverty, misery and suffering in you. And for such a person to look at those in distress and stare at disbelief at their ignorance and silliness and wonder in puzzled how they got themselves into such a mess, is just a big joke.
Allen Taylor Says:
November 5th, 2008 at 1:15 amVisit Allen Taylor
Nice writing. You are on my RSS reader now so I can read more from you down the road.
Allen Taylor
zach Says:
November 5th, 2008 at 6:08 pmVisit zach
Woah, didn’t know you still want to continue ranting here. Ok fine I’m humbled. Just understand that, I amassed whatever little amounts I have by myself, saving and working (not thru the conventional means but still it was work), I didn’t simply get money from parents, in fact I never took a cent from them since army. I may behave incredibly aloof and ignorant at times but that does not mean I’m really what you think I am. So don’t make personal attacks here. Thanks.
On to the issue, hopefully you can forward your arguement to the top execs at the banks and governments, who are unaffected by the crisis and planning their year end vacation in Hawaii. The sad truth is, the financial world really is full of sharks who just want to feed on newbies like retirees or ambitious youngsters without good knowledge. On paper yes, your bank exec has responsibility to you and your money but really, their own wealth-amassing priorities come first. Trust me, I’ve friends in there and 8/10 of them don’t really care.
Nonetheless, I’m humbled simply because I respect you alot as my friend, and we just happen to have differing viewpoints on a certain issue. So let this thing rest. Geez!
mesimply Says:
November 5th, 2008 at 6:53 pmVisit mesimply
“The sad truth is, the financial world really is full of sharks who just want to feed on newbies like retirees or ambitious youngsters without good knowledge.”
This is enough. Since you understand that right from the beginning, you shouldn’t be saying how those people deserves this outcome and has no right to whine.