The Bonds they had invested in for retirement are declared as junk by credit rating agencies. A huge scam is exposed, whereby AT1 bonds meant for institutional selling were offloaded on retail customers by sales personnel of banks, before the bank failed and was taken over by another entity.
An uproar follows but no action is taken. Three years later, the person involved is indicted by forensic agencies of fraudulent siphoning of funds.
“Is there any hope of redemption?” is his last question to the Board of Directors.
“Can you redeem the confidence of investors by buying the bonds back?”
Note:
AT1 – Additional Tier1 bonds
These are unsecured bonds that have perpetual tenure. In other words, the bonds have no maturity date. They have a call option, which can be used by the banks to buy these bonds back from investors. These bonds are typically used by banks to bolster their core or tier-1 capital.
Creative Experiments and More 
How can there be any redemption? The damage done is irreparable.
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Redemption is not on their minds, when they commit the crime. Thank you, Denise!
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Can you regather the feathers after you scatter them from the pillow?
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😂😂 Thank you, Mimi!
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Sadly , there is no way he can. Chump change to the company is a fortune to any single individual. He knew that when he signed up, no doubt…
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Wish we could foresee the future while signing up. Thank you, Liz!
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Betcha he won’t buy back the bonds and can’t redeem the confidence of those he stole from.
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They manage to show losses and that there are insufficient funds to pay back.
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It seems like some of that was involved in the last crash, now so many years ago I forget which year it was.
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2008 or before that?
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Yes, it was 2008.
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Such damage done, that undermining of confidence as well as the financial hits.
I hope he does redeem himself.
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Redemption comes in so many forms. Thank you, D.Avery!
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Billions scammed and siphoned off. No redemption for the perpetrators of State Capture in my country (we hope).
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When scams happen, only the latest ones play on our mind. If we track older ones, some criminals might have escaped after long litigation.
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Very true, Reena. Upped and left the country.
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Reblogged this on NEW BLOG HERE >> https:/BOOKS.ESLARN-NET.DE.
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Good job
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Thank you!
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money fa nuttin
for someone
scam
crammed
and lost
the cost
was clear to see
after
in twenty twenty hindsight visions!
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good 😊
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Thanks!
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