上海商業銀行無良,政府監管不力，官員應當下台

大姐明炮轟高官卸責

2009-07-02

雷曼苦主之一的藝人林建明參加遊行。

輪椅使用者王小姐不忍八十多歲的祖父祖母遊行，稱「我幫佢哋行埋」。

【東方日報專訊】雷曼苦主之一的藝人「大姐明」林建明，昨日亦有刻意穿上寫着「不再沉默的羔羊」的T恤到維多利亞公園，參加雷曼苦主大聯盟的遊行，只是低調地走在龍尾。不過，她對政府處理雷曼事件的態度相當勞氣，批評官員一直互相卸責，更激動地稱「政府搞唔掂，曾蔭權(相關)就下台啦！」

在烈日當空下，遊行人士均汗流浹背，自言因雷曼迷債事件而損失高達八位數字金額(a sure case of private banking crimes by putting all eggs in one baskets in Lehman related ELI, Minibonds, CLN for uneducated customer with bank loans) 的林建明昨日亦有單人匹馬到場，她稱以往曾做腦部手術，酷熱天氣下，身體狀況未能應付整段遊行過程，但強調「捱到幾耐，就行幾耐」。

u86歲苦主行足全程

她 說自己是經上海商業銀行買入一千萬元的雷曼迷你債券，對於現在一切已化為烏有感到很不滿，她昨日一手拿住寫着「上海商業無良」牌子，另一手拿着「曾蔭權下 台」的標語，以示抗議，而身上的T恤亦特別寫上了「不再沉默的羔羊」字眼以明志，她說實在看不過眼政府「監管唔得、處理唔好」，「銀行賠晒都唔使蝕啦！」 她稱政府監管不力，官員應當下台。她又說今次更已透過電郵，呼籲了過百名朋友到場。而她行至半途時，一雙波鞋的鞋底已見甩底。

由於天氣炎熱，有參加者暈倒，但亦有八十六歲的廖先生，堅持到場並行足全程，希望可討回本金。

In 2008, SCB were selling LEBR 10Y, 15Y Callable Transatlantic Range Accural Notes from Lehman brothers instead of bonds. These notes were from offshore companies of Lehman brothers in Europe which was similar to Lehman ELN with no guarantee as from Minibonds. SCB knew that notes were traded between banks and corporation, while bonds were for customers of banks. Unlike what Joseph Yam was saying in Legco, Notes were not more safer in risk level than bonds, in 2008, US banks notes sales between banks should be very slow for these were high risk in most bankers minds, and that why SCB committed bank frauds in selling those notes to their unsupected customers that did not watch US news.
http://blogs.moneycentral.msn.com/topstocks/archive/2008/06/05/will-lehman-crash-and-burn.aspx

http://www.toomre.com/taxonomy/term/30/1

http://optionarmageddon.ml-implode.com/2007/12/24/telegraph-10-trillion-of-losses/

Only Asian corporate bonds and government were low risks during that periods because of 2007 credit crunch and these can be sold thru private banking in HK such as UBS.

CNN money, which was responsible for the high tech bust in around 2000, also had this articles that everybody saw in Internet and watched on CNN in TV and that the articles that made me worry about CDO at that time. May be the voodoo economy follower Joseph Yam (not expert, because he is only a statistician) never learnt from experience and believed in this article and let the Minibonds busted later as he admitted in Legco sessions:
http://money.cnn.com/2007/11/28/magazines/fortune/fortune500/eavis.creditfix.fortune/?section=money_topstories

Further informations on HSBC wanted to take over Lehman in 2008:

http://www.forbes.com/2008/09/11/lehman-treasury-fed-markets-cx_er_0911outlook.html

http://www.marketwatch.com/story/hsbc-which-bank-is-it-buying-today-press-1-for-no-comment?pagenumber=1

The following rumor was started in 2007, and Lehman was not in good business climate either for banks to trade their notes:

http://dealbreaker.com/2007/05/has-lehman-lost-its-mojo.php

http://minibondsoctaveconstellation.blogspot.com/2009/03/shanghai-commercial-bank-knew-about-cdo.html

I only sent these information to Legco members on 19th May 09 for their investigating of Shanghai Commercial Bank frauds that they should knew about CDO information and also Lehman Brothers was in troubles since 2006 for they had managers to research into financial markets. And also on 23rd May 09 I sent one more letter similar to the letter to Legco members with more informations after Legco members (

Regina Ip, 涂謹申踢爆　金管局遲鈍 風險通告遲發九個月) attacked HKMA in Lehman inquiry to CEO HK, HKMA, SFC and Legco members for investigating bank frauds of SCB.

We should also ask HKMA, SFC to take similar actions against all HK banks that sold these structure products.

Accraul notes:

Your product is under Protection

Protect your capital whilst enhancing your potential returns.

Products allocated to the “Protection” category are
aimed at investors with a low to moderate risk tolerance.
All the products in this category offer a substantial
capital protection component, meaning that when
the investment comes to maturity you will receive a
minimum repayment relating to the nominal capital
invested. If you sell such a product prior to maturity
you will, however, forfeit the benefit of this capital
protection. These products also have a yield component
which, depending on your preference, can be unlimited,
limited or stipulated in advance. The high degree of
capital protection offered – for most products between
90 and 100% of the invested capital – does, of course,
affect the maximum potential return delivered by the
product when compared to a direct investment in the
relevant underlying itself.
By far the largest selection of products offering 100%
capital protection are in the “fixed-income” segment.
The most popular investment instruments include
Callable Step-Up Notes (CSUN) and Callable Daily Range
Accrual Notes (CDRAN). Both of these products combine
100% capital protection with an option strategy.
With a CSUN, you get a maximum-term bond with
coupon payments that rise in stages as this term
progresses. In effect, the noteholder sells a periodic
call option to the issuer (hence the “callable” part of
the name), and in return, the investor receives an option
premium, so that when the note reaches maturity the
overall yield is greater than on comparable bonds of the
same maturity/rating. CDRANs, meanwhile, are bonds
that can be redeemed before maturity by the issuer.
Unlike CSUNs, the coupon payments are not fixed in
advance, but depend on how many days during the
coupon period a specified index (e.g. an interest rate or
interest rate differential) remains within a predefined
range. Depending on the number of days on which
the relevant condition is met, a higher return can be
achieved compared to an equivalent traditional bond.
Capital protection products based on equities and
currencies are also very popular. The most well-known,
and in fact the oldest, is the GROI (Guaranteed
Return Of Investment). This instrument, developed by
UBS, was one of the first structured products to be
distributed internationally. The “Protection” category
now offers the most varied range of all, with products
affording capital protection on almost every conceivable
underlying asset. As well as bonds, equities, equity
baskets, indices, interest rates and currencies, there are
an increasing number of capital protection solutions
based on precious metals, commodities or credit baskets,
not to mention interest differential curves and real
estate, all featuring a range of possible maturities,
payout models and income/participation structures.
UBS’s “Protection” category does not include any
product that only offers conditional capital protection,
i.e. a risk buffer that disappears as soon as a specified
price limit or threshold is reached.

eg. for UBS private banking:

For private banking,dd the advisor would follow these examples set by the bank management. The advisor would never ask their customers to put all money in one basket. Private banks would take responsible for any mistakes their advisors made:

Opportunities
If his expectations prove correct, the investor ends
up with a higher return than on a traditional bond
investment.
Risks
If interest rates fall, the Note may be redeemed prior
to maturity for cash, leaving the investor to invest the
repaid capital elsewhere. However, the return achieved
prior to early redemption should still be higher than
that available on a comparable alternative bond with
the same maturity and rating.
Protection
Example
Scenario
75% bonds, 10% equities, 10% alternative
investments, 5% money market.
The investor expects yields to be relatively stable or
to rise slightly. For 10% of his bonds about to mature,
he seeks an investment solution with 100% capital
protection.
Solution
The investor invests the repaid capital in UBS Callable
Step-up Notes.
UBS offers a range of solutions with capital protection
to investors wishing to minimize their risk exposure.
This keeps the likelihood of loss to an absolute minimum.
Investors should note that the above charts and examples are purely for
illustrative purposes and do not give any indication of actual conditions
or profits. These examples do not take account of dividend payments or
standard securities trading costs (brokerage, etc.).