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2/15/2009

Notable quote by Lim Hwee Hua

Reserves won't be depleted They are long-term investors and Govt is confident they will deliver: Lim Hwee Hua In 8 months we have lost $58b or 31%. The numbers for GIC is still not disclosed. If one is to extrapolate the numbers, how much more can we lose? Not a reasonable assumption or trend of thought? When we bought into the distressed banks, did we think that losing 70% or 80% is possible? No, conventional wisdom says it was not possible. Can our reserves be depleted? God knows. Any human beans can guarantee that it will not? I don't think any human beans should ever try. But if you are not any ordinary human beans, maybe can. Also if the reserves can be topped up again and again, then it will never be depleted. Now, what or how much would it be considered as being depleted? Is 30% or 40% a depletion? If yes, it is already depleted, by $58b. Or $58b is just another peanut?

3 comments:

Anonymous said...

even if she is truely confident of our reserves in her heart, we are not confident of her anymore.
all the mistakes made by the obscenely paid so called top-talent can be seen clearly.
who in his right mind will trust them blindly anymore? except tartman who still "trust" prataman to do his job.

Anonymous said...

It is difficult to predict whether they can recover the loss and how long it will take. But it will not be a short wait.

Some are talking about a 5,000 point Dow, so there is still a further slide of another 30% if that is the case.

Obama is fighting a battle on many fronts. The car makers and auto part suppliers are again threatening bankruptcy if help is not forthcoming. They have already tasted blood. Who else is next in the game of blackmailing the US Government and taxpayers?

Some are now saying it will take three years to recover. The time frame is getting longer by the day.

Lost Citizen

redbean said...

the total loss could come to $200b or $200,000,000,000. what kind of money is that to lose and not even feeling any pain for it.

i felt like dying when i lost my first million. hey, it is real money that we are losing. not those you buy from temple street or sago lane in chinatown.