The DBS High Notes 5 had a staggering default risk of 8% (see Dr. Money article above) and they sold this to retirees and the uneducated some of whom they have agreed to compensate. They failed completely to uphold the value of integrity at the bank. Mdm Ng called this "bankditcracy". You think about it if they mis-sold these to the vulnerable, you think they will have any qualms about mis-selling this to the "less vulnerable"....Of course not - it requires less betrayal of conscience to mis-sell it to the better educated and younger! Like I said in my previous posting, the only way to sell a product with a 5% return and 8% failure rate is to misrepresent it because nobody in the right mind will buy it.
"I think the prospectus says 'you could lose all or a substantial part of your investment in the Notes' in bold print, on page 1 or 2 " - PM Lee