Comment posted in my blog
Being a victim of Minibond, I can't help but to suspect:
(1) swap ctt, reference entities are just smoke screens to divert our attention from the underlying securities, CDO
(2) could the real purpose be: to get rid of the toxic CDO?
If above suspicions are true, then the intention to deceive starts from the product design stage! We will have a strong case to demand compensation, whether in FIDRec or Court.
Only the authorities have the rights to open the records/ correspondences in the arranger & issuer, & determine whether (1) & (2) are true or false.
If true, bring the culprits to Court on behalf of the investors! If false, at least the investors know the truth.
I'm pinning my hope on HKMA and MAS.
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