tag:blogger.com,1999:blog-7115935.post2354450769737115508..comments2023-12-01T11:40:00.045+11:00Comments on Dikkii's Diatribe: Great debacles of our time: The great mezzanine financing collapse (part 2)Dikkiihttp://www.blogger.com/profile/07897381809885423712noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-7115935.post-73981939086069026282007-06-14T14:26:00.000+10:002007-06-14T14:26:00.000+10:00Darn right, Plonka, and that's one of the points I...Darn right, Plonka, and that's one of the points I made in Part 1.<BR/><BR/>It is only slightly better than targetting kids.<BR/><BR/>This is not an excuse for financial illiteracy, though. Targetting a vulnerable sector is one thing.<BR/><BR/>That vulnerable sector actually taking the bait is something completely different.Dikkiihttps://www.blogger.com/profile/07897381809885423712noreply@blogger.comtag:blogger.com,1999:blog-7115935.post-43344243783753661812007-06-13T13:20:00.000+10:002007-06-13T13:20:00.000+10:00Interesting stuff Dikkii. I'm beginning to see why...Interesting stuff Dikkii. I'm beginning to see why you dislike the idea of advisor commissions so much.<BR/><BR/><I>Is it wrong to target a vulnerable sector of the community when pushing risky products?</I><BR/><BR/>YES! It's the same principle as targeting the kiddies IMO...Plonkahttps://www.blogger.com/profile/01552546816593027504noreply@blogger.comtag:blogger.com,1999:blog-7115935.post-68008538304011193082007-06-13T09:47:00.000+10:002007-06-13T09:47:00.000+10:00Post qualified.Thanks for the pick-up, anonymous.Post qualified.<BR/><BR/>Thanks for the pick-up, anonymous.Dikkiihttps://www.blogger.com/profile/07897381809885423712noreply@blogger.comtag:blogger.com,1999:blog-7115935.post-16491551613673351802007-06-13T09:26:00.000+10:002007-06-13T09:26:00.000+10:00I can see I'm going to have to qualify my post.In ...I can see I'm going to have to qualify my post.<BR/><BR/>In this part, I was actually mainly discussing Fincorp's and ACR's investors, who didn't seek financial advice and instead chose to invest on the basis of some unfeasibly high promised returns.<BR/><BR/>Westpoint is an entirely different kettle of fish and I may even do a follow up post to just discuss their situation.Dikkiihttps://www.blogger.com/profile/07897381809885423712noreply@blogger.comtag:blogger.com,1999:blog-7115935.post-26059312161143838952007-06-13T09:07:00.000+10:002007-06-13T09:07:00.000+10:00Like a lot of others we invested in Westpoint on t...Like a lot of others we invested in Westpoint on the advice of our financial advisor who assured us that Westpoint was a very safe, low risk investment, which was secured by property. We trusted their advice as they are a well respected company who is affiliated with all of the industry bodies. Being greedy, as you incorectly assert in your comments had nothing to do with it. Had we, and I suspect many others had have been given proper, informed advice about this investment there was no way, regardless of any interest rate would we have gotten involved with westpoint.Although at the end of the day we as investors have to take responsibity, The real villians of this story must be the greedy Financial advisors who with little regard for thier clients interests placed thier clients futures at risk in order to pocket excessive fees and kickbacks.Anonymousnoreply@blogger.com