Re: GIC and Temasek lost huge sum, over 35 billions.....in Citi bank, Merrill Lynch and UBS.
AleXX
the key to the country's treasure because he was too scare or afraid to ask
for it. Unlike the late President Ong, he was pushed aside for his attempt
and was given ridiculous reasons like taking 52-man-years to dig the key
out.
"baldeagle" <botak...@yahoo.com.sg> wrote in message
news:a367bcb5-cf7e-40ed...@f40g2000pri.googlegroups.com...
Singapore government invested via GIC, S$14.5 billion in Swiss UBS and
S$12 billion in Citi at the end of last year and via Temasek $8
billions in Merill Lynch. Over 35 Billions dollars have been lost.
What has Singapore goal keeper, MM, been doing...
LKY is supposed to safe guard our national wealth..prevent our
reserves from being squandered by irresponsible finance managers.
He FAILED.
--------------------------------
Ref:
Citigroup: Seeing Red
THE BANK appears headed for a fourth straight quarter in the red,
after management late last month predicted a net loss of up to $5
billion. Citigroup faces billions of dollars in write-downs on debt
securities and off-balance-sheet assets, among other things. It's also
staring at ballooning losses from bad loans to consumers. Fox-Pitt
analyst David Trone sees Citi's overall credit costs rising 33% from
the second quarter to $9.2 billion. While no bank has escaped
thefinancial crisis, Citi's problems keep defying its executives'
divinations that the worst has passed. Their forecast last month was
dour enough, but the upheaval since then may point to even greater
disappointment for investors. Also look for executives to be pressed
for a post-mortem on Citi's aborted bid for Wachovia.
http://www.asiaone.com/Business/News/SME%2BCentral/Story/A1Story20080427-62020.html
http://news.bbc.co.uk/2/hi/business/7673724.stm
US banking giants Merrill Lynch and Citigroup have both reported
massive quarterly losses as market turmoil has led to further write-
downs.
Merrill Lynch made a loss of $5.15bn (£3bn) in the third quarter.
Citigroup reported a $4.4bn in write-downs
http://news.bbc.co.uk/2/hi/business/7673159.stm
UBS is raising 6bn Swiss francs ($5.3bn; £3.1bn) from the government.
It has $60bn in distressed assets.
UBS has been one of the heaviest losers from the sub-prime crisis.
WALL ST.= FALL ST.
wrote:
> The Istana Apuneh is not doing his duty. Unfortunately LKY did not give him
> the key to the country's treasure because he was too scare or afraid to ask
> for it. Unlike the late President Ong, he was pushed aside for his attempt
> and was given ridiculous reasons like taking 52-man-years to dig the key
> out.
>
>
> news:a367bcb5-cf7e-40ed...@f40g2000pri.googlegroups.com...
>
> Singapore government invested via GIC, S$14.5 billion in Swiss UBS and
> S$12 billion in Citi at the end of last year and via Temasek $8
> billions in Merill Lynch. Over 35 Billions dollars have been lost.
>
> What has Singapore goal keeper, MM, been doing...
>
> LKY is supposed to safe guard our national wealth..prevent our
> reserves from being squandered by irresponsible finance managers.
>
> He FAILED.
>
> --------------------------------
> Ref:
>
>
> Citigroup: Seeing Red
> THE BANK appears headed for a fourth straight quarter in the red,
> after management late last month predicted a net loss of up to $5
> billion. Citigroup faces billions of dollars in write-downs on debt
> securities and off-balance-sheet assets, among other things. It's also
> staring at ballooning losses from bad loans to consumers. Fox-Pitt
> analyst David Trone sees Citi's overall credit costs rising 33% from
> the second quarter to $9.2 billion. While no bank has escaped
> thefinancial crisis, Citi's problems keep defying its executives'
> divinations that the worst has passed. Their forecast last month was
> dour enough, but the upheaval since then may point to even greater
> disappointment for investors. Also look for executives to be pressed
> for a post-mortem on Citi's aborted bid for Wachovia.
>
>
> http://news.bbc.co.uk/2/hi/business/7673724.stm
> US banking giants Merrill Lynch and Citigroup have both reported
> massive quarterly losses as market turmoil has led to further write-
> downs.
> Merrill Lynch made a loss of $5.15bn (£3bn) in the third quarter.
> Citigroup reported a $4.4bn in write-downs
>
> http://news.bbc.co.uk/2/hi/business/7673159.stm
>
> UBS is raising 6bn Swiss francs ($5.3bn; £3.1bn) from the government.
> It has $60bn in distressed assets.
> UBS has been one of the heaviest losers from the sub-prime crisis.
Price/prise the holly Goes,the father n the son..they are already
living like in heaven now in this world but the ppl under them suffer
even more n more everyday like living deaths...