'The first Hong Kong investors in Lehman-linked derivatives reached a settlement with a bank...' it was quoted from the SCMP today. The first investors are an 84-year-old woman and her mentally ill son. According to the younger brother of the family, the sales person in the bank had already known his brother was mentally ill. I am not interested in Lehman Brothers minibonds. I just hate someone who cheat people especially the weak for a living.
This incident reminds me of the crafty sale people who sell insurance. I always receive call from people selling insurance. They tell you how good the insurance is for you. They try to persuade you buying the insurance before you put the phone down. If you want to see the black and write first, they insist on convincing you to agree on the phone before they mail you the agreement. They say if you do not like it, you can withdraw it in seven days. Once you receive the agreement, they will make sure you keep it.
If you ask them to mail you the terms and agreement before you make the decision, it is impossible. Do not buy anything on the phone. It may not always be what you want. Do not be tempted by any kinds of privileges they offer you. Just to say 'no' if you do not want it and be firm. If they are confident in their product, they should not be afraid to let people see the terms first.
Be a smart consumer :-)
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