Minibonds Fiasco

So anyway, I think everyone's sick of hearing about the minibonds by now. I know I am. Throngs of greedy ignorant people complaining they're not getting money for free. Really makes me sick when I think about it.

See, what happened was, these people obviously made it through life without understanding how risk works. It's amazing, really. Given their supposed ignorance on how to treat risk, I would have assumed the average complaining investor would not have survived past his 20th birthday. Apparently, donkeys get really lucky outside of the poker table as well. It appears a lot of these "investors" actually managed to hit retirement age.

Seriously, the angry mob has managed to convince practically everyone that the risk of the investment was high BECAUSE the investment eventually went south. That's ridiculous, akin to crying out that using a bridge is dangerous after witnessing a collapse. We're talking about educated and experienced people who are so caught up with their emotions, they can't detect this obvious fallacy in the argument.

Personally, I'm hoping the banks end up not compensating anyone. A disaster happened, and the least we can all do is learn from it. I've talked to people, and apparently, the lesson they learnt here is not to trust everything you hear from a salesman. REALLY? It took losing your life savings to learn this one? Again I wonder at the life expectancy of these investors. The real lesson here is the importance of diversification. I'm really hoping this point will drive home in the months to come, as we're not out of the woods yet on this finanacial crisis.