Everyday you hear one more Financial organization biting the dust. There was this guy who looted 50 B's without anybody noticing it. If I walk away from my bank teller with 5 cents more there are 40 people pouncing over me.

The senate hearings of the Indian Kashmiri Guy- the enforcer(Fall Guy) of Polson is a joke and he ends up taking a beating day after day. Nobody knows which bank got how much and the finer details along with it. There is another scam in the back door where these guys are getting further tax breaks without the Congress knowing it.

The other day AIG chairman when asked how could you draw a few hundred million bonus when your company was receiving Billions from the government. The guy did not respond.

We also hear Lehmann brothers shopping around for a good rating company for their organization. While I have to do satsaang namaskar to my credit rating company while obtaining my mortgage.

All these guys are all educated in IVEY league schools. What did they learn?. To cheat/defraud the hard earned money of simple/god fearing people.

This whole Finance Experts have no sense of Ethics and have one thing in common - GREED.

I don't know when was the last time you checked your RRSP and other investments BUT if you haven't you'll be in for a rude shock. They all hide behind the screen of the fine print which talks about the various risks involved and no liability involved. Can I sell a LCD TV with the condition that it will work for 30 days or may be it will stop working based on the conditions in your living room? (or) your car engine stall and may lead to an accident within 3 months of purchase and we are not liable for the same?.

Remember those chitfund guys who used to run away with our savings back at Desi Land. What is the difference between that NASDAQ guy and these guys.
I know atleast one case in Tamilnadu where the runaway chitfund guy was hacked with sickle right in front of the police station.

Most of these guys are worser than the 10 guys who landed in Mumbai.

WE NEED TO HAVE \"SHARIAT TYPE CAPITAL PUNISHMENT\" TO ALL THESE FINANCE GUYS WHO WILL SELL/SUGGEST/ADVICE YOU A PRODUCT WITHOUT BATTING AN EYELID FOR A FEW DOLLARS OF COMMISSION.

If your mutual fund does not obtain even the conservative level of returns the fingers of the dealer should be snipped, the hands of the fund manager should be chopped off. The level and degree of punishment should increase with amount and how far away they were from their promise.

Some of these guys at the top should be hung like Saddam Hussein.

That is the only way they will be careful with your money!.

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Sunny Leone a true Canadian DESI now back in India !.

Totally agree...

Hiren

Quote:

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Originally posted by Vandematram

Some of these guys at the top should be hung like Saddam Hussein.

That is the only way they will be careful with your money!.

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Amit Kalia, Broker, REALTOR®
RE/MAX Real Estate Centre., Brokerage
independently owned & operated
100 City Centre Dr, Unit 1-702
Mississauga, ON L5B 2C9
Phone No.: 905-339-5111
Website: https://www.realestate-ontario.com/
Condo Blog: https://condopundit.com/blog/

Here comes a new breed of novice- financial product sellers in GTA & Ontario who offer you life insurance , mutual funds etc. etc. to new immigrants.

There are many hidden details which are not well informed to you. Recently a broker who sold me mutual fund product which has 7 years lock in period.
There are other options avaiable with zero lock in and 3 years lock-in.

It is broker's responsibility and duty to inform you about all the available options, but unfortunately it is not done by many novice and experienced brokers who wants to make fast bucks by any means. In seven years lock-in term your broker is making highest margin while in other options they make little less money. So it is quite natural you will be sold something where in they make highest commission.

So better watch out when some broker approach you with a financial product, make sure you tell them your choice of lock-in period, Otherwise once you are in system, you cannot sell your product for 7 years and you are struck . There is huge penalty for converting or premature selling before the term.

Majority of brokers will sell you 7 years term mutual fund without you noticing it /
Besides they will have you sign all the papers in their favor.

Be watchful and protect your money before loosing it to greedy brokers.