Update: Temasek sold BOA shares
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TO JGHO83:
WHAT CAN U DO??
U KNOW???THE SAME THING HAPPENED TO A DOG THAT WAS CAGED IN CHINA WAITING TO BE SLAUGHTERED FOR DINNER!
I DONT SEE HOPE FOR ANYONE LIKE U WITH THOUGHTS LIKE THAT!
BUT THERE CAN STILL BE HOPE FOR HOPELESS PEOPLE LIKE U!TRY NOT TO THINK LIKE THAT ANYMORE AND U WONT END UP LIKE SHEEP TO THER SLAUGHTER!
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TO ANGEL7030:
ARE U TYELLIN ME LKY BURNS MILLIONS OF PEOPLE ALIVE LIKE HITLER TOO>?
THATS WHY HE HAS TO EXPLAIN OR CANT EXPLAIN TO HUMANKIND!
BUT BURNIN OF JEWS WERE NOT UNDER HITLERS ORDERS....HE WAS A PARTIAL JEW HIMSELF.....AND HE MIXED WITH JEWS TOO WHEN HE WAS YOUNGER. IT WAS THOSE PEOPLE WHO WANTED TO BE BETTER THAN NAZIS WHO MADE IT SO.HITLERS GERMANY WASNT SO ORDERLY AS IT APPEARED...BEHIND THE SCENCE FROM FOREIGN CORRESPONDENCE B4 WW2 REVEALED A CHAOTIC SYSTEM!
LKY???GIVE GAS OR HOT AIR???THE OIL N FUEL STEMS FROM A STRATEGIC LOCATION OF SINGAPORE TO REST OF THE WORLD.EVEN WITHOUT LKY....JUST GET ANY STSNDARD ISSUED POLITICIAN,,,,HE CAN ALSO DO THE JOB.....BUT THING IS WHERE N WAT DID HE DO TO THE ZILLIONS OF DOLLARS???
A HIGH PRICE TAG THINGY???MORE LIKE WATERED DOWN WHISKY OR WATERED DOWN PEPSI!
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Originally posted by SpeedStar:
So if temasek sold all the share for BOA, is it implying that there is not future in this bank? And how about citibank?
The banks are insolvent, their liabilities far exceed their assets. The Federal Reserve is also bankrupt. The greedy bankers in cohort with the shadowy Feberal Reserve have conned the world.
Go and read the book The Shadow Money Lender" by Malaysia Mathias Chang. He is a Malaysian of Chinese descent. He is a Barrister of 31 years standing and once served as the Political Secretary to the former Prime Minister of Malaysia, Tun Dr. Mahathir Mohamad. He is the author of three bestsellers, “Future FastForward”, “Brainwashed for War, Programmed to Kill”, and “The Shadow Money-Lenders and the Global Financial Tsunami”, published in the US and in Malaysia. -
repeat deleted
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I don't know but it looks like they sold at the lows of the market.
Stock market started moving up sometime in March, almost exactly when they sold off all their BoA shares.
Talk about bad luck.
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14 May, 2009 Reuters
RIO RANCHO, New Mexico – President Barack Obama raised the prospect on Thursday that China and other nations could stop buying U.S. debt and said the United States needed to tackle its deficit to avoid long-term economic damage.
"The long-term deficit and debt that we have accumulated is unsustainable. We can't keep on just borrowing from China or borrowing from other countries," Obama told a town hall meeting event in New Mexico.
"We have to pay interest on that debt and that means that we're mortgaging our children's future with more and more debt," he said.
China is the single largest holder of U.S. debt and owned $744 billion worth of U.S. government securities at the end of February, the latest month for which data is available, according to the U.S. Treasury.
Obama said the debt situation would create greater economic problems if foreign countries like China lost their appetite for U.S. treasuries.
"What's also true is at some point they're just going to get tired of buying our debt," he said.
"And when that happens, we will really have to raise interest rates to be able to borrow and that will raise interest rates for everybody."
The White House estimated earlier this week the U.S. budget deficit will be $1.84 trillion for the fiscal year that ends September 30.
Obama has pledged to halve the U.S. deficit within four years despite implementing economic stimulus measures that will make it larger in the short term.
[FF Editorial: For the first time An American President has openly admitted that there is no way that the current US debt can be sustained. This has been a stark reality for years, but everyone chose to bury their heads in the sand, and pretend all is well. The implications of this admission are far reaching. By way of analogy, if you are a banker and there are no prospects whatsoever of a borrower repaying the principal and interest because the same has ballooned to such an extent, it is a physical impossibility, would you continue lending? And if other bankers are not willing to lend as well, what would be the ultimate outcome? Default! When US defaults as I had stated repeatedly in all my publications since 2006, you can imagine the economic and financial meltdown that follows. It will be the end of America as we know it. Period!]
http://futurefastforward.com/feature-articles/1661 -
Originally posted by 4sg:
14 May, 2009 Reuters
RIO RANCHO, New Mexico – President Barack Obama raised the prospect on Thursday that China and other nations could stop buying U.S. debt and said the United States needed to tackle its deficit to avoid long-term economic damage.
"The long-term deficit and debt that we have accumulated is unsustainable. We can't keep on just borrowing from China or borrowing from other countries," Obama told a town hall meeting event in New Mexico.
"We have to pay interest on that debt and that means that we're mortgaging our children's future with more and more debt," he said.
China is the single largest holder of U.S. debt and owned $744 billion worth of U.S. government securities at the end of February, the latest month for which data is available, according to the U.S. Treasury.
Obama said the debt situation would create greater economic problems if foreign countries like China lost their appetite for U.S. treasuries.
"What's also true is at some point they're just going to get tired of buying our debt," he said.
"And when that happens, we will really have to raise interest rates to be able to borrow and that will raise interest rates for everybody."
The White House estimated earlier this week the U.S. budget deficit will be $1.84 trillion for the fiscal year that ends September 30.
Obama has pledged to halve the U.S. deficit within four years despite implementing economic stimulus measures that will make it larger in the short term.
[FF Editorial: For the first time An American President has openly admitted that there is no way that the current US debt can be sustained. This has been a stark reality for years, but everyone chose to bury their heads in the sand, and pretend all is well. The implications of this admission are far reaching. By way of analogy, if you are a banker and there are no prospects whatsoever of a borrower repaying the principal and interest because the same has ballooned to such an extent, it is a physical impossibility, would you continue lending? And if other bankers are not willing to lend as well, what would be the ultimate outcome? Default! When US defaults as I had stated repeatedly in all my publications since 2006, you can imagine the economic and financial meltdown that follows. It will be the end of America as we know it. Period!]
http://futurefastforward.com/feature-articles/1661They still have citibank shares.
Maybe this investment will be for long term.
Just in case.
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Originally posted by charlize:
They still have citibank shares.
Maybe this investment will be for long term.
Just in case.
But the crisis is very deep. If you read the book by Mathias Chang, he shown that all the while, there is a long, hidden conspiracy by the bankers and the fed to deceive - until now.
They hold hoping for a turnaround.....a gamble that things will turn out right. -
Originally posted by 4sg:
But the crisis is very deep. If you read the book by Mathias Chang, he shown that all the while, there is a long, hidden conspiracy by the bankers and the fed to deceive - until now.
They hold hoping for a turnaround.....a gamble that things will turn out right.Tell that to the ah mahs, ah peks and uni students all punting their retirement / tuition money on the recent stock market rally.
Property agents are going into forums asking people to buy singapore property because of inflation, IR, F1 and increased population.
A lot of people believe that it will be a V shaped recovery.
After the mauling the markets got in the past year, people think the worst is over and it is time for quick riches again.
Who gives a shit about economic fundamentals like massive unemployment, falling wages, bankrupt banks and MNCs or the US trillion dollar debt ?
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Originally posted by charlize:
Tell that to the ah mahs, ah peks and uni students all punting their retirement / tuition money on the recent stock market rally.
Property agents are going into forums asking people to buy singapore property because of inflation, IR, F1 and increased population.
A lot of people believe that it will be a V shaped recovery.
After the mauling the markets got in the past year, people think the worst is over and it is time for quick riches again.
Who gives a shit about economic fundamentals like massive unemployment, falling wages, bankrupt banks and MNCs or the US trillion dollar debt ?
Not surprise....many ppl go by gut feeling and not by market research. Even market research (which I have subcribed to, some also say v shape recovering, some not sure yet.)
Derivative is nothing more than a scam. And this scam has not been fixed yet.
(If I got time, I will post one article on derivative. Must scan or it type out.) -
donation to obama issit?
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CNBC David Faber described Temasek sale of BOA as “one of the worst investment” for one single fund
“A $4.6 billion loss on a $5.9 billion dollar investment. TPG lost $2 billion really quickly on Washington Mutual, but this one guys, is right up up there, as one of the worst investment during this period for one single investment fund.”
Now, what does the Lee family think of this latest investment loss?
Ho Ching, Temasek’s CEO, wife of Prime Minister Lee and daughter-in-law of MM Lee:
“No. I think if you want to run life with regret, you will end up doing very little.” (when asked if she had any regrets about leaving Temasek, Reuters 6 February 2009, source)
Lee Kuan Yew, GIC’s Chairman, father of Prime Minister Lee and father-in-law of Ho Ching:
“When we invest, we are investing for 10, 15, 20 years. You may look as if you are making a big loss today, but you have not borrowed money to invest. You will ride the storm, the company recovers, your shares go up.” (CNA, 7 February 2009, source)
Lee Hsien Loong, Prime Minister of Singapore, husband of Ho Ching and son of MM Lee:
“Both Temasek and GIC are professional investment organizations, highly regarded around the world for their track record. Management hired all over the world. Boards are competent and experienced. They pursued sustainable returns over the long term, and avoided excessive risk-taking for short-term gains. Thus we have achieved good long term returns through ups and downs in the global economy and market cycles.” (in a speech on 21 October 2008, source)
Since we are investing for the long-term, why did Temasek sell of its stake in BOA so early and at such a low price? In less than a year, it lost 83% of its initial investment in Merill Lynch!
Is Temasek pursing “sustainable returns” over the long term by pulling out so early from BOA? Does Ho Ching still have “no regrets” over such a disastrous loss? Of course she won’t, since the money is not from her own pockets.
Does Singapore still has a future when its SWFs are bleeding our precious reserves dry with such ill-judged investments?
Imagine using the $4.6 billion dollars to help ordinary Singaporeans tide over the current economic turmoil by subsidizing medical bills, providing retrenchment benefits and paying for the education of needy students.
The government kept telling the people that we should be self-reliant and not develop a clutch mentality. It is not as if it has no means to help the less fortunate in society. It is so filthy rich that it is able to blow billion dollars away in an instance without blinking an eyelid!
In her latest speech as Temasek’s CEO, Ho Ching said:
“We must do things today with tomorrow clearly in our minds. The story of Temasek is likewise a journey, each generation doing things yesterday and today with tomorrow very clearly in our minds – to make a difference to our fellow men and women, to support and build a future where Asia and Singapore can realise their full potential for their people, and to put in place the foundation for a better tomorrow.” (read her speech here)
Forget about Asia, Madam Ho. Haven’t you caused enough trouble in Thailand? Obviously the investment decisions made by you during your tenure did not take the future into account. How else can you explain the terrible losses suffered by Temasek from the purchase of Shin Corp, ABC learning and now Merrill Lynch?
The Singapore government must account to the people immediately on the latest loss by Temasek since it is a corporate entity fully owned by the Ministry of Finance which is in turn financed completely by taxpayers’ monies.
It is a shame that the PAP pay only lip service to transparency and accountability and continue to demand us to pay them exorbitant salaries only to screw up big time, again and again.
http://sgblogs.com/entry/cnbc-david-faber-described-temasek-sale-worst-investment-single-fund/341689 -
no he said "this is the the single worst investment in history they lost 4.7 billion on 5.7 billion investment."
it is very embarrassing, watch the video
Video link: http://www.cnbc.com/id/15840232?video=1124895352&play=1 -
even a fried kuay teow man who fries hum fer a living has the cow sense not to gamble n lose so much in business!
seems like they got too much money to spend!!and too much power to get away wiv it! in japan...they normally commit suicide due to dishonourable n shameless loss as in this topic!
this isnt $1...not $1000 /...NOT 1MILLION DOLLARS............N0T 10MILLION DOLLARS!!!ITS ZILLIONS OF DOLLARS LOST!
IT WONT BE EASY FER THEM TO GET AWAY WITH THIS IF THEY LOSE THE ELECTION!THERE DEFINITELY WOULD BE AN ENQUIRY ON WAT HAPPENED ON THE PARTIES WOULD BE HUNTED DOWN!ITS BILLIONS OF DOLLARS!!!NOT SO EASY JUST STEPPIN DOWN N SAY I QUIT,,,,,DUN WERK LIKE THAT...NEVER DID!
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WITH THE LOSSES THEY MAKE..........THEY COULD SPEND MONEY ON RESEARCH N DEVELOPMENT ON BUILDING ANOTHER PLANET OR MOON N FOOD FOR THE ENTIRE PLANET.............BUT NO,,,VEGAS N TUMBLING STOCKS WAS ALL THEY HAD IN THEIR MINDS!!!
WAT THE HELL IS WRONG WITH THEM???TOO MUCH SEX N DRUGS???
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Originally posted by MINIGUN2000:
even a fried kuay teow man who fries hum fer a living has the cow sense not to gamble n lose so much in business!
and I can almost smell the fkt.....
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Originally posted by MINIGUN2000:
WITH THE LOSSES THEY MAKE..........THEY COULD SPEND MONEY ON RESEARCH N DEVELOPMENT ON BUILDING ANOTHER PLANET OR MOON N FOOD FOR THE ENTIRE PLANET.............BUT NO,,,VEGAS N TUMBLING STOCKS WAS ALL THEY HAD IN THEIR MINDS!!!
WAT THE HELL IS WRONG WITH THEM???TOO MUCH SEX N DRUGS???
IF THEY LIKE IT AND CAN DO IT, WHAT CAN YOU DO?DIAM DIAM GO HAWKER CENTRE EAT LAU FU ZI FRIED KUAY TEOW
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to angel70:
no,they cant and are not suppose to do it!!why and state their reasons???if ntheir reasons are unsound...its called breach of trust...embezzelment etc etc.the money dont really belong to them!!!its money obtained from teamwork from all the singaporeans from those working in the oil petroleum industries,the high tech industries to the humble hawker frying hum fer a living...n of course people desperately serving watered down pepsi!
what can i do???plenty!!!tell them they doing it all wrong!!they are no better than the british back in world war 2 pointing their cannons in the wrong direction!
Entire singaporeans will be branded as stupid idiots by all the countries when u go on tours . they probably will think just because u let complete blur farks run the whole show n lose billions...the foreigners will probably want a piece of yer $$$$$ too.after all singapore has leaders losing billions like a wide eyed virgin kid!
LKY knows best.....he might praise daughter in law,,,but deep down he is jumping like mad!who wont?
fried kuay teow???have u seen the condition of the hum these few years???i must be nuts to eat it!
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Originally posted by MINIGUN2000:
to angel70:
no,they cant and are not suppose to do it!!why and state their reasons???if ntheir reasons are unsound...its called breach of trust...embezzelment etc etc.the money dont really belong to them!!!its money obtained from teamwork from all the singaporeans from those working in the oil petroleum industries,the high tech industries to the humble hawker frying hum fer a living...n of course people desperately serving watered down pepsi!
what can i do???plenty!!!tell them they doing it all wrong!!they are no better than the british back in world war 2 pointing their cannons in the wrong direction!
Entire singaporeans will be branded as stupid idiots by all the countries when u go on tours . they probably will think just because u let complete blur farks run the whole show n lose billions...the foreigners will probably want a piece of yer $$$$$ too.after all singapore has leaders losing billions like a wide eyed virgin kid!
LKY knows best.....he might praise daughter in law,,,but deep down he is jumping like mad!who wont?
fried kuay teow???have u seen the condition of the hum these few years???i must be nuts to eat it!
try the mee siam with hum, maybe it will taste better, i dun mind adding nuts into kuay teow, a new food.so, u go ahead and tell the rich, middle and poor class of Singaporeans that they are idiots being used by a blur king.
Let see what is the reaction, if you dun end up in SGH, most probably you will be in some crematorium.
IF LKY said "TOMORROW ALL WILL HAVE TO PAID ME $1000 INORDER TO SAFEGUARD OUR CITY". Guess what, all Lan lan (pardon me) also go and pay. That is what i call total control, total power and total effectiveness. UNTIL the day you can do that, then we can talk about it.
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to angel:
THEN I DIE AND COME BACK TO HAUNT THEM FOREVER!
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This is the article which should be read.
http://business.asiaone.com/Business/News/My%2BMoney/Story/A1Story20090518-142163.html
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Originally posted by will4:
This is the article which should be read.
http://business.asiaone.com/Business/News/My%2BMoney/Story/A1Story20090518-142163.html
Who thinks it will be the new CEO who will come out to explain that it was his decision to cut loss?
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Bank of America Shares Shot Up 74% After Temasek Sold It's Stake
http://dealbook.blogs.nytimes.com/2009/05/18/wall-street-warms-up-to-bank-of-america/
The New York Times, 18 May 2009
Wall Street Warms Up to Bank of America
May 18, 2009, 11:13 am
Kenneth D. Lewis may have gotten a rebuke from shareholders last month, but he was getting votes of confidence from Wall Street on Monday. Upbeat assessments from analysts at Citigroup and Goldman Sachs lit a fire under shares of Bank of America, the banking giant where he is chief executive — and was chairman until a few weeks ago, when shareholders voted to remove him from that latter post.
At first glance, the enthusiasm might seem to come at a strange time. Banking regulators just told BofA to raise nearly $34 billion, suggesting it was the most anemic of the 19 financial institutions that endured the government’s stress tests.
But some analysts think Bank of America’s efforts to raise the capital are proceeding well. If that overhang clears up, it could ease the pressure that has been weighing on the company’s stock price.
Analysts at Goldman raised BofA from “neutral” to “buy” and added the company to their so-called conviction list of recommended stocks. Analysts at Citigroup kept a “buy” rating on the shares but had positive things to say about the integration of BofA and Countrywide, the troubled mortgage lender it recently bought, as well as its capital-raising plans.
BofA is using “at-the-market” stock sales to raise a large part of its additional capital cushion. That means the shares are quietly dribbling out in unknown quantities. Reading the tea leaves — and watching the volume of BofA stock trades — analysts at Citi, led by Keith Horowitz, estimate it has already raised $3 billion to $4 billion from selling new stock.
In addition, Bank of America raised an estimate $4 billion after taxes from the recent sale of part of its stake in China Construction Bank.
The biggest unknown appears to lie in BofA’s plan to convert about $16 billion in institutionally held preferred stock into common. If BofA can offer a price that is above the equivalent price of the common shares, it will minimize the dilution for current shareholders, the analysts said.
The analysts’ comments may be gratifying to Mr. Lewis, who endured some heated attacks at last month’s meeting from shareholders who lost money.
But Temasek, the investment arm of Singapore, could be feeling a bit of seller’s remorse. The fund recently reported selling its entire stake in BofA — at an enormous loss, by all accounts — some time before March 31. Since then, BofA’s stock is up about 74 percent.
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Latest updates at Singapore News Alternative:
1. Bank of America Shares Shot Up 74% After Temasek Sold It's Stake
2. Singapore says no quick recovery, unemployment to grow
3. Clergy should avoid partisan politics, says Archbishop of Singapore
4. SIA sticks to Airbus A380 deliveries despite crisis
5. Singapore President: seeing through economic crisis immediate priority
6. Disgraceful attacks and a defense of NMP Siew Kum Hong
New video added:
1. Interview with Khatib residents: What do they think of their MP Lee Bee Wah?
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one should never gamble in the stock market, not with billions especially
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Originally posted by MINIGUN2000:
to angel:
THEN I DIE AND COME BACK TO HAUNT THEM FOREVER!
LKY got many priests and bomohs to protect him. U small little ghost better stay far away, if not forever you will be cast in hell