Billions of CPF $s gone up in smoke!

[Merl Haggard]

Citi - 6.35 ~ Mandatory conversion by Dec 08 at US$33

Merrill - 9.65 ~ Purchased at US$29

UBS - 9.30 ~ Mandatory conversion at US$51 by Dec 08

They would lose about US$50 bln for the stakes of these three banks
they bought in Dec 2007 and that is excluding Barclays & Standchart.

Kiss our CPF savings goodbye liao!

 

[imperialarms]

time to rally in front of istana

 

[Hope]

Citi - 6.35 ~ Mandatory conversion by Dec 08 at US$33

Merrill - 9.65 ~ Purchased at US$29

UBS - 9.30 ~ Mandatory conversion at US$51 by Dec 08

They would lose about US$50 bln for the stakes of these three banks
they bought in Dec 2007 and that is excluding Barclays & Standchart.

Kiss our CPF savings goodbye liao!

Not to forget the $ 400 million or so in the Aussie con job and the $20 billiojn plus pumped into Charted Semi-Con.

A lot of peanuts u know

 

[AhBeng]

time to rally in front of istana

For the existing NS to practice life firing with walking/running ducks!!!!

This will make the NS soldiers sharshooter and receive marksmanship badges for shooting the first 10 civilians........:p

 

[Leongsam]

They would lose about US$50 bln for the stakes of these three banks
they bought in Dec 2007 and that is excluding Barclays & Standchart.

Kiss our CPF savings goodbye liao!

It's just a paper loss. Don't worry about it. Temasick plans for the long term.

Ho Ching is a very astute investor and can see way into the distant future.

In a decade or so, all those shares will be worth at least a 100 times what they are worth now.

 

[depeche]

Citi - 6.35 ~ Mandatory conversion by Dec 08 at US$33

Merrill - 9.65 ~ Purchased at US$29

UBS - 9.30 ~ Mandatory conversion at US$51 by Dec 08

They would lose about US$50 bln for the stakes of these three banks
they bought in Dec 2007 and that is excluding Barclays & Standchart.

Kiss our CPF savings goodbye liao!

It just paper loss...don't forget they invested for the long term...so no worries! Afterall, the CPF is not reserve for the citizens...

 

[exSINgaporean]

Citi - 6.35 ~ Mandatory conversion by Dec 08 at US$33

Merrill - 9.65 ~ Purchased at US$29

UBS - 9.30 ~ Mandatory conversion at US$51 by Dec 08

They would lose about US$50 bln for the stakes of these three banks
they bought in Dec 2007 and that is excluding Barclays & Standchart.

Kiss our CPF savings goodbye liao!

Please explain what is meant by "mandatory conversion"? Thats that mean the GIC will have to pay for the value of the stock at the stated price of $US33 even though market price is way below at say $5 for Citi?

If that is the case then the CPF is really gone by the timeline you reveal. I read somewhere it should be 2 yrs from Dec 10, 2007. But that would not mhelp much..no wounder PAP wants a sanp erection..perhaps before Dec 2010 so that is they lose they can jump ship and leave the whole mess to the opposition. If they win then they continue to cover up and increase GST to 15 to 50% to help the poor.

And how do you come out with the US$50 billion debt the GIC got to pay. This is really terrible if true. The CPF would close shop then. Riots everywhere in Singapore.

 

[Merl Haggard]

Not to forget the $ 400 million or so in the Aussie con job and the $20 billiojn plus pumped into Charted Semi-Con.

A lot of peanuts u know

To Hor Jinx, ABC is sup sup the water only lah.

 

[Merl Haggard]

It's just a paper loss. Don't worry about it. Temasick plans for the long term.

Ho Ching is a very astute investor and can see way into the distant future.

In a decade or so, all those shares will be worth at least a 100 times what they are worth now.

Oh yes, I forget that your idol is ranked as the third most powerful bitch in the world.

 

[Merl Haggard]

It just paper loss...don't forget they invested for the long term...so no worries! Afterall, the CPF is not reserve for the citizens...

Indeed it's for the very, very long term, so no worries.

 

[Leegimeremover]

Indeed it's for the very, very long term, so no worries.

If the company has on going concern.

 

[Merl Haggard]

Please explain what is meant by "mandatory conversion"? Thats that mean the GIC will have to pay for the value of the stock at the stated price of $US33 even though market price is way below at say $5 for Citi?

If that is the case then the CPF is really gone by the timeline you reveal. I read somewhere it should be 2 yrs from Dec 10, 2007. But that would not mhelp much..no wounder PAP wants a sanp erection..perhaps before Dec 2010 so that is they lose they can jump ship and leave the whole mess to the opposition. If they win then they continue to cover up and increase GST to 15 to 50% to help the poor.

And how do you come out with the US$50 billion debt the GIC got to pay. This is really terrible if true. The CPF would close shop then. Riots everywhere in Singapore.

You may be right that they must convert in Dec 09.

Their investment in these 3 banks has lost 85% to-date,
and the worst is not over yet.

Citi is expected to head to $3.50 and Merrill to $4.50.

 

[R4g3]

It's just a paper loss. Don't worry about it. Temasick plans for the long term.

Ho Ching is a very astute investor and can see way into the distant future.

In a decade or so, all those shares will be worth at least a 100 times what they are worth now.

if they have bought at the right time, they can buy at least 3-5 times more.

 

[pia]

if they have bought at the right time, they can buy at least 3-5 times more.

If they were not so eager to brag their huge coffers, they could have cost-averaged and not lost so much. Wanted to tell the world they are so powerful and rich and smart, probably gave Warren Buffet and Jim Rogers et al a ROTL

 

[Uncle2]

Relax lah... the money were never meant for us anyway...

 

[DIVISION1]

The government of Singapore does not burn money. It makes wise investments.

 

[numero uno]

It just paper loss...don't forget they invested for the long term...so no worries! Afterall, the CPF is not reserve for the citizens...

paper loss??? how come they didn't tell that to lehman bros minibonds and pinnacles notes investors taht it is only paper loss????? Thhis is crap talk. Paper means money!!!! afterall dollar bills are printed on paper.

 

[lifeafter41]

The government of Singapore does not burn money. It makes wise investments.

Wise indeed!!.

Noted in reuters today on the comment on Citigroup : "If the government stepped in, they would rescue the senior bondholders and probably the subordinated holders too, but equity is far less likely to be saved," said Sean Egan, principal of Egan-Jones Ratings Co in Haverford, Pennsylvania

Go figure out then.

 

[Merl Haggard]

Citi - 4.80

UBS 8.80

Merrill - 8.50

My target of 3.50 for Citi & 4.50 for Merrill gonna come sooner than expected.

Huat argh!

 

[NissanViP]

The government of Singapore does not burn money. It makes wise investments.

This time I must fuck your brain.

If singapore govt makes wise investment, so did Ho Jinx (In fact the whole LEE FUCKER YEW and his FAMILY- the one that you did the job called, blowjob.) make wise investment?

Now go and take candle slowly burn your fucking ass, feel it yourself.