So why aren't they suing anyone for libel yet?

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Added on August 4, 2012, 12:51 am

Stopped reading here. Maybank made Rm4.7 billion profit last year. Do you think they can't stand a few people withdrawing FDs?



This post has been edited by wodenus: Aug 4 2012, 12:51 AM

Not really. Money in banks is insured by the government up to Rm250K IINM. So even if the bank goes bankrupt the insurance will pay it.

If the bank goes bankrupt the insurance will pay it.. look it up at http://www.pidm.gov.my/

Isn't "the bank itself going bankrupt" the same as "something happens to the bank"?

This post has been edited by wodenus: Aug 4 2012, 01:23 PM

See, there are two kinds of risk in this world, acceptable risk and unacceptable risk. Acceptable risk is manageable risk, unacceptable risk is unmanageable risk.

I understand that there is a risk if I put the money in FD, the bank might go bankrupt. But this is a manageable risk, because the money I have in there is insured for me by PIDM. So in case the bank goes under, I will be repaid by PIDM, so it's a manageable risk.

If I invest my money in some scheme or other, and I lose the money because the company goes under, then what happens? I don't get the money even though it's no fault of mine? that's an unmanageable risk. That's why deposit-taking companies are required to be licensed by the government, so that this sort of thing does not happen.

This means I can sleep at night, I am not going to wake up tomorrow and find that I am bankrupt through no fault of mine. Sometimes I am annoyed at the low interest rates too, but then if I want higher rates, I have to deal with the unmanageable risk, and then the risk/reward ratio becomes unappealing. Also thankfully Bank Negara is doing a pretty good job, we have 3-5% interest rates, and inflation is not really that bad.

I would love to be an investor, but I don't have access to long-range data (multi-year price histories etc.) Without that, you can't plan. Without a plan, you are just gambling, not investing.

There are many easy ways to make money. But when you consider the risk/reward ratio, it's not a lot better than going to a casino. At least when you cash in your chips in a casino, you will get your cash back. Even so you can't mitigate the risk of someone following you from the casino (remember everyone on your table can see you win a lot of money) and robbing you in some way. So the risk/reward ratio of gambling is still unappealing in that way.

This post has been edited by wodenus: Aug 4 2012, 05:32 PM

True enough, but at least the cash is guaranteed by PIDM even if the bank goes bankrupt, which is more than I can say for yours.

Say you bought 20,000 lottery tickets, and became a millionaire overnight, you are still a winner, right? say you then use your winnings to buy more lottery tickets, and then you win more money, you are still a winner, right? say your first post is here defending and obvious ponzi scheme, and because of that lots of people give you money, who cares if the bottom of the pyramid gets left with the bag, you are still a winner, right? those fools and idiots who "invested" just before it shut down. and all those people Genneva never refunded... are losers right? it doesn't matter who loses as long as you get to win, right?



All these risks can be mitigated (pre-nuptial contracts, work for established companies, insurance, employment laws etc.)



All these risks can be mitigated.



Which is why surgeons have years of training.



So you decided to stalk these forums for four years, looking for a chance to post this?



A lot of Madoff's investors made money too.



Have you read the thread, how do you account for all those people who are complaining that they did not get their refunds?



You should thank those people who Genneva did not refund, because that's where your money came from

I had appendicitis surgery, and did not sign any forms like that. Do people normally sign these forms?

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Added on August 5, 2012, 3:04 pmLOL.. even if we suck at debating, people can read the thread, see how many people are complaining.. If there's so much as one person that claims that his bank refused to give him his money, I'd not be banking there any more lol

In the end, read for yourself the posts, and then decide for yourself lol

This post has been edited by wodenus: Aug 5 2012, 03:04 PM

Madoff had hedge funds buying from him, what's your point a ponzi scheme is defined by unmanageable risk, not by the number of people there's always good risk and bad risk.


This post has been edited by wodenus: Aug 5 2012, 03:25 PM

That's why there's such a thing as a medical malpractice suit



You don't have to justify anything to me, just to the people who Genneva didn't refund

Why does anyone have to create a scene to get back money that is rightfully theirs? I don't need to create a scene to get my money out of a bank

Wait, is this the same Datuk Joseph Kow that is a director of Genneva? is he the founder of Gold-BEAM?

Yup history repeats itself again. Pat, don't you think it will look bad for Rayma if this turns out bad?