By: Jay 50,000 over investors in HK bought USD 1bn worth of mini bonds from Lehman. 1,000 of them protested public to seek explanation from authorities. Singapore - my guess, probably 60% of HK's problem ie 30,000 investors, investing USD 600mn in mini bonds ie 1bn SGD DBS shareholder equity is SGD 23bn, net profit is 2bn SGD So theoretically, they can repay the investors out of goodwill with little impact. Eg. Repayment 20% over 5 yrs, SGD 200mn per yr -> 0.9% dent to their equity and 10% dent on net profit (quite big though) Of course, they won't... Source: Industry Knowledge and Other Information