The MP for Ang Mo Kio GRC, Inderjit Singh, asked, "In July last year, Temasek invested a few billion dollars into Barclays Bank... From what I understand, these values have now gone down to half of the investment
oh well...
The MP for Ang Mo Kio GRC, Inderjit Singh, asked, "In July last year, Temasek invested a few billion dollars into Barclays Bank... From what I understand, these values have now gone down to half of the investment
sshh.. the barclay thing wasn't really made publicly known, it was only reported in some overseas financial times.oh well...
sshh.. the barclay thing wasn't really made publicly known, it was only reported in some overseas financial times.
it's not Gov't role to comment, cos as we all know all investments carries risks and you know how the story goes.. come on, it's an honest mistake, let's move on.
sshh.. the barclay thing wasn't really made publicly known, it was only reported in some overseas financial times.
it's not Gov't role to comment, cos as we all know all investments carries risks and you know how the story goes.. come on, it's an honest mistake, let's move on.
nice sounding, but do you think merrill lynch only had 8 top bankers involved in their fiasco?
p.s. i'm more interested in temasek's overall performance than just one portfolio. name me one person who can invest and get it right all the time regardless, and i will quit school and just lick his boots until i get his skills. unfortunately, such a person does not seem to exist.
Honestly, I'm afraid you sound like a govt apologist... whatever happened to the word accountability? Or shouldn't they be held to account at all? Keeping thing under wraps so that people will forget and the problem will go away eventually? Not the Govt's role to comment? Pray tell then which body does the GIC report to? Pleease give us all a break...
You miss the point. I'll repeat it. ACCOUNTABILITY.
It means the guy with the authority is responsible for the actions of his subordinates and for the firm as a whole.
If he approved their actions, he's totally responsible. If he knew about it and didn't stop it, he's still responsible. If he didn't even know about it, he's responsible for the failure to keep a proper watch.
The buck stops with him.
Nobody gets it right all the time and investors do forgive small mistakes. That's why the bosses of HSBC, JPMorgan Chase, etc. are still around, although they lost money too (about US$1.5B in JPMC's case). But large mistakes cannot be forgiven.
You may disagree with the system. But those are the rules of the game. The guys who take up these jobs, they know it from Day 1.
That's why CEO's like them get the big bucks. Because they'll have to be the fall guy if anything happens during their watch.
There are always very good, good, average, bad and very bad investments. Why pick on one investment instead of looking at the whole portfolio? :dunno:
hehe.. why don't you find out and tell us all? I'm just a common peasant.Honestly, I'm afraid you sound like a govt apologist... whatever happened to the word accountability? Or shouldn't they be held to account at all? Keeping thing under wraps so that people will forget and the problem will go away eventually? Not the Govt's role to comment? Pray tell then which body does the GIC report to? Pleease give us all a break...
This is actually what we are looking at. The final outcome of the investment. If at the end of the day, you make and recover, do you still go after the so call 'accountability'?
You must remember, sometimes the return is not immediate, it could be one or two years down the road.
ok, to be honest, there is no right or wrong in investment. The calculation has to be correct at the point just before pressing the green button. His as is on the job, like it or not.
If market plunged on the whole, their as is covered. If a particular investment devalues drastically during a boom time, then corruption is suspected.
Accountability applies to both private and non private sector. It's a matter of how one prepares for unexpected twists. If one has the guts to take the hot seat, he would have the wit to fend off any rumor. Beside, he belongs to the same pack of wolfs.
For the rest of us, LPPL. Life goes on.
1. Heard of Micropolis?
2. Has anyone ever been held accountable for a bad Temasek/GIC investment?