14 Jan '12, 2pm

DBS should pay medical bills of customers who have resulting health conditions: A professor wrote in to the news...

A professor wrote in to the newspapers. He clarified that the money is not lost by the customers of DBS but by the bank. He wrote that it is not correct to say that the bank reimburses the customers; the losses incurred are the bank's losses not the customers' losses because the customers have lent the money to the bank and it is therefore the bank's responsiblity to return the money to the customers whether or not someone else had stolen the money from the bank. E.g. If you lend your friend $50, and your friend got robbed, your friend would still need to return the $50 to you. He won't be saying, "That $50 note that got stolen belongs to you, therefore you got robbed, not me." In this latest news headline "DBS compensates $1m to ATM fraud victims ", I think it's not correct either. When I think of compensation, I would think it's some extra cash to compensate customers fo...

Full article: http://yu-kym.blogspot.com/2012/01/dbs-should-pay-medical...

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