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Thursday, January 14, 2010

Financial Scandals to Be Revealed?



One wonders where all this is heading--if properly investigated. Lawsuits, heavy fines, jail time.... Perhaps we are just seeing this start to break apart:

Singapore's www.temasekreview.com, Damon Yeo:

Government Investment Corp (GIC)’s massive S$1 billion loss on their Stuyvesant Town investment is shrouded in much mystery. Before the news of a default broke out, very few outside of the GIC framework actually knew that our national sovereign wealth fund actually had an open position in this upmarket New York real estate. There was no mention of this investment in GIC’s annual report 2008/09 and if you search for “Stuyvesant” on GIC’s official website site, a nil search is returned.

More here.

3 comments:

Anonymous said...

Nice article.

Very nice.

Anonymous said...

I wish those were Robbie's hands in the pic. Robbie by name, Robber by nature. Along with his fat-assed Pa, Jerry, of course.

Anonymous said...

STR, if you really have to have that punch-ugly Rob Speyer kisser displayed on your home page, could you at least superimpose the word "Loser of the Decade" or something similarly appropriate? Any alteration to the disgustingly ugly mug would be an improvement.