Tuesday, July 19, 2011

Don't Let Breaking News Become Heart-breaking News for You

Over the last few months, newspapers have been full of reports about various money-swindling firms across the state. If you missed the news somehow, we have made a poster of such news.

Image provided by KSFE Paripally Branch

In fact, one can make numerous collages of such news items. Here is what Pavaratty Branch of KSFE created:

Vicious Cycle

The same newspapers that carry these news items also carry the advertisements of new financial schemes, chit funds, and kuri companies in the private sector. Such companies promise unbelievable returns for your investment. It's worthwhile to remember that some of the now infamous companies mentioned in the newspaper reports had also provided attractive advertisements in the media. Apple-a-Day, for instance, had even sponsored a reality music show in a TV channel with some of the leading playback singers in Malayalam appearing as the judges.

It is a vicious cycle. First they appear in the newspaper advertisements, and then they become the news. Soon the media will forget about such fraudulent companies. So do most people. Those who lost their hard-earned money in such schemes will remain the only sufferers.

After some months, a new cury company or a money chain scheme props up with their fancy advertisements. Such companies too will eventually make breaking news - only that It will be a heart-breaking news for the customers of the companies. Read a related report here.

Moral of the Story

In financial aspects, an old adage still remains the gold standard: if something sounds too good to be true, it probably is.

Issued in public interest by KSFE Attingal Evening Branch

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