Smart Alec and the dubious investment products

Some Smart Alec still hold the view, similar to our PAP leaders, that the ordinary people should be more carefully about their investments and deserve to be cheated if they venture into unfamiliar areas. These people overlook the following points:

•  Some of the investment products are downright scams; other products are dubious and take advantage of the less savvy
• The unwary investors were forced to consider other investments as the interest rate on bank deposits had fallen to nearly zero!
• These dubious products are created by "talented" people who have no qualms about ripping off the unwary
• The people who sell the products to their friends might even have been unaware about the toxic nature of these products
• The dubious products are being sold under the banner of the financial institutions that they had trusted for decades.

If the argument of these Smart Alec were to be followed, then there is no need for the Government to test pharmaceutical products. The public should be careful about buying the products that are being sold to them. If they are not familiar with these pharmaceutical products, they should not consume them. 

We know that the argument does not hold in the case of pharmaceutical products, and that the Ministry of Health takes the responsibility to test and approve the products. They do not expect the doctors to take this responsibility.

One day, the victims of these dubious investment products will be the family members of these Smart Alec. Then they will realize what harm they have been causing to their loved ones.