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Temasek may have profited from the takeover of Merrill Lynch by the Bank of America to the tune of US$1.5 billion.
http://www.busrep.co.za/index.php?fArticleId=4613430&fSectionId=552&fSetId=662.
Don’t be too happy yet. BOA is not paying in CASH. it;s paying 0.8595 BOA shares for every ML share. It really depends on where BOA shares trade and if Temasek can sell those shares for CASH. Did T have a strategic interest in BOA in the first place? If it did, it wouldn’t have bought Citi. That’s what I understand from the deal. It’s trading at $27.50 now.
“Warren B has got to give returns to his investors, year by year we don’t have to” Well said, does that mean that the government is not accountable to the people , whose money you are investing , year on year. Decades, will you be around or will the political situation be the same. So you have a free hand to do what you want without scrutiny and accountability in the name of long term investment.
Old man has been a great political leader, but he is still not a sav vy investor! So we dont have to give returns yoy, so 5 yr losses folowed by 2 year gains- that good enough? No scrutiny by independent party, Prez sitting on his fat ass collecting his millions in salary, not overseeing the reserves…the arrogance of the man!
What if Merrill Lynch was not bailed out by someone and fallen into liquidation, I do not think any investor will get a single cent out of it. Hence, GIC or any Government investment agencies have to exercise extreme care and do their
homework thoroughly prior making any move in the investment, as a lot of bad debts of these foreign Companies are sometimes being kept in the dark and being very difficult to detect.
Invest for “Gd return”
Huh?
More like supporting US economy.
See how dangerously the Govt is tinking with our money? Merrill Lynch almost went the way of Lehman Bros and our multi billions would have gone down the drain. If ML had been so enticing, don’t you thing Warren Buffet etc would have grapped a piece of it first?. We may have a lucky escape, but the show is not over yet. lets keep our fingers crossed.
Don’t worry about the loss, remember LKY says we still 30 years to recoup and profit from the bank investment. In the meantime, LKY can continue to forge sickness and illness like chen ShiBian to evade questions, and he has 30 years to do so…
LKY, please do not die fast otherwise we would not get to experience another world-class blunders and nonsense from you again.
Accountability? No need to, in case anything goes wrong, so what? implement more taxes only mah…. if make some money, then mmmmmm….see we are world class leaders.
“Accountability? No need to, in case anything goes wrong, so what? implement more taxes only mah…. if make some money, then mmmmmm….see we are world class leaders.”
You are right. Head you lose, tail you also lose, and that lies the genius of our world-class government policies. Nothing beats them.
Its good to have world class talent bought bought by world class pay. To justify world class pay, world class talent hv ever the more urge to use our Singapore $ to gamble…
Win $, world class talent shine
Loose $, nvr mind..we talk of long time horizon. a few decade
World class pay, sounds like US banking fiasco…
Are Singapore heading that direction.