This was taken inside the Kai Yuan Temple in Quanzhou during my recent trip to China. The girls were tourists visiting the city.
4/05/2013
Another botch deal, another US$600m down
‘The govt of Singapore, well, they lost the most….over $600 million. It just went poof…. Tisman Speyer and BlackRock lost a lot of people a couple of billion dollars, walked away from it unscathed and went into the next deal without anyone calling them out on their colossal mistake….’ NPR.org
The deal was to buy a middle class housing estate, The Stuyvesant Town and Peter Cooper Village in NY Manhattan, switch the land control tenants with new tenants paying market rentals. Pretty neat, pretty profits and pretty good deal. The deal was stopped by the courts and money of the investors went poof.
There must be many such good deals that are going around for clever investors to pick up, just like the rotten banks during the 2008 financial crisis. Many were great deals with great promises of big profits and were picked up quickly only to turn out as lemons. No free lunch. Too good to be true.
Thought such good deals will catch the laypeople on the streets, like the gold investment schemes where the returns are more or less guaranteed and in double digits. I am also looking for such good deals to invest my $2.
Did Singapore lose $600m? I don’t think so. Every botch deal a few hundred millions, how much can we afford to botch and botch? But then $600m is really peanuts compared to the tens of billions lost during the financial crisis. Ten of such bad deals only cost $6b and it will take 100 deals to hit $60b.
http://www.npr.org/2013/04/03/175511949/the-botched-ny-real-estate-deal-that-lost-other-people-billions
ReplyDeleteThey can afford to walk away because it's 'Other People's Money'.
Our PM can talk about continuing meritocracy for Singapore when it's 'Other People's Money' that the SWFs lost, so long as it's our own people running them.
Saycheese
hahahahahahahahahahahahahahahahahahahahhahahahahahahahahahahahahaha
ReplyDeleteDarkness 2013
Everything sweep under the carpet and forgotten. Just like how innocent investors were cheated by the big boys in selling the toxic product approved by MAS
ReplyDeleteNo worry lah, they made more than they lost. Net net made billions still. I want to type what Darkness type above at 2:24.....
ReplyDeleteHAHAHAHAHHAHAHAHAHAHAHAHAHHAHAHAHAHAHAHAHHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHHAHAHAHAHAHAHAHAHAHAH BURP...HAHAHAHAHHAHAHAHAHAHAHAHAHAHAHAHHAHAHAHAHAHAHAHAHAH...BURP.........HAHAHAHAHAHAHAHAHAHAHHAHAHAHAHAHHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA...PENGSHAN ALREDI!
ReplyDeleteDarkness 2013
AiyaI 600 million just two F35 jets so buy 10 instead of 12 lor
ReplyDeletethats the reason they never open the books for public inspection - afraid of public scrutiny. this world is full of lies. people must learn to stop voting for propaganda party.
ReplyDeleteCheap Cheap.
ReplyDeleteOnly 1% of the $50 bn real budget surplus in 2012.
No sweat lah.
Well it seemed like good deal and it worked in singapore: kicked out the rent controlled tenants and replaced them with quality tenants who pay market rents that can be adjusted upward periodcally.
ReplyDeleteWhat went wrong?
What ? Losing $600 millions again ?
ReplyDeleteQuick , Quick, ShittyTimes, Please put more Sex case corruption into front headline again for all newspaper for damage control with juicy headline "Do you DIY ?".
$600 millions loss ?
ReplyDeleteJust a peanut. Just sell a land in SinCity and sold it to the highest foreigners bidders for billions to recover. It is not like this is new to us. If people complain, just use ShittyTimes to say that Singaporeans is xenophobic. Problem solved.
Where China gave Hong Kong away more than century ago, sincity does it in bit by bit so that no one will notice. Brilliance ?
Redbean,
What do you think ?
Time to increase CPF minimum sum..haiz
ReplyDeleteWhere is Ah Tan when he's MOST needed?
ReplyDelete--------
He said the past twelve months have been the most fulfilling and inspiring of his professional life.
He cited events such as the Istana Open Houses, award ceremonies, charity fundraisers, community events and even interactions on Facebook, where both he and his wife Mary, had the opportunity to meet Singaporeans from all walks of life.
Million $ Prez role for the above????
They meet the people occassionally as were publized and their more frequent oversea trips to meet foreign dignitaries were similarly reported. Question is, why are Sinkies expecting him to look into something he himself was incharged and incurred similar losses before he became President!
DeleteDaft Sinkies Indeed.
Maybe those Sinkies can go and ask him when he goes to attend services at the church. At the place of worship, a truthful answer should be forthcoming.
$600 million can pay Lee Hsien LOONG for 200+ years. But he'll run Singapore down long long before then
ReplyDelete$600 million? Not much what?
ReplyDeleteOne peanut is $600K, so that is just about 1000 peanuts.
What's the problem? Bad deals have been plaguing red dot so often, it is becoming the norm. Just like the MRT breakdowns and floods. No big deal!
nothing to worry lah. just sell a few sentosa houses to cover asses. moreover can take back after 99 years. only here got such good deal and big time morons who bought those houses.
ReplyDeleteto make sentosa houses more attractive to morons, throw in a few free citizenships as a bundle deal.
ReplyDeleteA nation of sheep will beget a government of wolves." - Edward R. Murrow
phua pei yau sew,
ReplyDeleteIt's no wonder wealth doesn't last three generations.
As usual no head rolls, nobody gets fired, such cavalier behaviour at the highest level.
They went round the world to pick the best gamblers, pay them like themselves or more, only to gamble with our money big time.
ReplyDeleteRedbean,
ReplyDeletewhy are so like that ? Losing billions and millions by PAP is the norm not the exception for this greedy useless party, and the news is only interesting if PAP did not lose money. Everytime, we hear the brutal truth of PAP losing money which is the usual modus operandi of PAP, we are so tired of listening it anymore, so inform us only when PAP did not lose money. Not losing money might be one in every 50 years for PAP.
"They went round the world to pick the best gamblers, pay them like themselves or more, only to gamble with our money big time."
ReplyDeletewhen win, gamblers take all the money, when lose, lesser mortals bear all the loss. Best job in the world.
Why you people take it so likely when lose money? Not that when they make money we got a share. The problem is that when they lose money, all of us suffers. More taxes, our CPF kicked further down the road, never to be seen, and more.
ReplyDeleteDon't think it does not matter or does not affect you.
How come the 'walking dead the 2nd' in the Istana did not do anything?
ReplyDeleteOn second thought, don't expect the walking dead to do much.
House of cards, unraveling, ivory tower must come tumbling down, inevitable, but too slow, sigh.
ReplyDeleteIt's called investment. You win some, you lose some. The only important number is your net profit/loss.
ReplyDeleteRight you win some, you lose some but it's seemed that they are losing their shirts, pants, underwear, panties and even the Kotex.
DeleteSeah Chiang Nee's Saturday column
ReplyDelete[Singapore looks to ties that bind]
"FOR a few days last week,
Singapore’s prime minister left behind his troubles at home
to face a tricky foreign policy matter that his father once excelled in.
Lee Hsien Loong paid his 2nd visit to the U.S. in 6 years
that was evidently aimed at deepening Singapore’s strategic ties with Washington
at a time of rising tensions in Asia.
While Hsien Loong was in America,
former PM Goh Chok Tong arrived in China for a 7-day visit,
where he met the new Chinese leader Xi Jinping.
Hsien Loong’s visit probably has another purpose.
Singapore is reportedly on the verge of making a decision
to buy America’s F-35 fighter jets to upgrade its air force.
The order could be for 12 F-35Bs..
Reuters quoted industry and US sources as saying
Singapore may buy up to 75 F-35Bs eventually.
Although Hsien Loong became PM 8 years ago,
this is his 1st real test of his diplomatic skill
in a major foreign policy without Cabinet guidance from his father.
This visit – and the consequences – will determine
if he could succeed in steering Singapore through the intensifying rivalry of China and the United States."
http://thestar.com.my/news/story.asp?file=/2013/4/6/focus/12933031&sec
Wow!
ReplyDelete75 F35 Fighters
to protect 7.5 million population
and a 750 square kilometre rock.
Life in Sin is super precious and worthy.
If the money is not your own to begin with, why the fuck should you even CARE how much you lose?
ReplyDelete@saycheese 214:
The money is not "other people's". In fact no one (human being) owns that money. That money belongs to The State. The State is an artificially created entity made "legal" by a few important pieces of legalese paper, some oath taking, and some ink from the signatures. The State is NOT HUMAN, but it can OWN stuff.
Please don't get into the false claim that the money in the SWF is "our money". It is not YOUR money. You have no claim to it. If you don't believe me, why don't to try "withdrawing" $10 to buy a burger and fries :-)
I got this site from my pal who shared with me about this website and
ReplyDeleteat the moment this time I am browsing this website and reading very informative articles at this time.
Here is my web site - Nike Air Jordanair jordan concord
Very good article. I absolutely love this site. Keep writing!
ReplyDeleteMy homepage: NFL Cheap Jerseys discount nfl jerseys
Heya i am for the first time here. I came across this board and I find It truly useful & it helped me out
ReplyDeletea lot. I hope to give something back and help others like you aided me.
Have a look at my homepage - Air Maxair con system
Very great post. I just stumbled upon your blog and wished to say that I have really enjoyed
ReplyDeletesurfing around your weblog posts. In any case I will be subscribing in your feed
and I am hoping you write again very soon!
Feel free to visit my page Air Maxatlanta braves hat to match air jordan 9 charcoals 59fifty
I wanted to thank you for this excellent read!
ReplyDelete! I definitely enjoyed every little bit of it.
I have you bookmarked to check out new stuff you post…
My web page - Air Jordan Pas Chernike air jordans
I am sure this piece of writing has touched all the internet
ReplyDeleteviewers, its really really fastidious article on building up new webpage.
my web page: Air Maxair Jordan
Great web site you have here.. It's difficult to find high-quality writing like yours these days. I seriously appreciate individuals like you! Take care!!
ReplyDeleteHere is my web page; wholesale jerseyswholesale cell phones
Undeniably believe that which you said. Your favorite justification appeared to be
ReplyDeleteon the internet the simplest thing to be aware
of. I say to you, I definitely get irked while people think about worries that they plainly don't know about. You managed to hit the nail upon the top as well as defined out the whole thing without having side effect , people can take a signal. Will likely be back to get more. Thanks
Also visit my web page http://wealthwayonline.com/
Howdy I am so happy I found your weblog, I really found you by
ReplyDeleteaccident, while I was browsing on Google for something else,
Anyways I am here now and would just like to say thanks a lot for a remarkable post
and a all round exciting blog (I also love the theme/design), I
don’t have time to read through it all at the minute but I have
saved it and also included your RSS feeds, so when I have time I will be back to read much more, Please
do keep up the excellent work.
Feel free to visit my web blog :: Air Max Pas Cherdesigner sports shoes
You have made some really good points there. I looked on the
ReplyDeletenet for additional information about the issue and found most people will go
along with your views on this web site.
My web page - Air Jordan Francecentral asia
This information is priceless. How can I find out more?
ReplyDeleteCheck out my page :: Wholesale NFL Jerseys
I used to be suggested this web site through my cousin.
ReplyDeleteI am now not positive whether or not this submit is written by way of him as no one else know such distinctive approximately my trouble.
You're amazing! Thank you!
Look at my blog: www.wheelhousebikes.com
It's great that you are getting ideas from this article as well as from our discussion made here.
ReplyDeleteFeel free to visit my web page - Louis Vuitton Bags
This paragraph is actually a pleasant one it helps new web
ReplyDeletevisitors, who are wishing in favor of blogging.
Also visit my blog post: adidas soccer
I was curious if you ever thought of changing
ReplyDeletethe structure of your website? Its very well written; I love what youve
got to say. But maybe you could a little more in the way of content so
people could connect with it better. Youve got an awful lot
of text for only having 1 or 2 pictures.
Maybe you could space it out better?
my blog Abercrombie Paris
Greetings! Very useful advice within this post!
ReplyDeleteIt is the little changes that will make the largest changes.
Many thanks for sharing!
my site; Nike Air Max Pas Cher
Hey there! I've been following your weblog for a while now and finally got the bravery to go ahead and give you a shout out from Humble Tx! Just wanted to tell you keep up the fantastic work!
ReplyDeleteFeel free to surf to my web page :: Nike Air Max
Hi this is somewhat of off topic but I was wondering if blogs use WYSIWYG editors or if you have to manually code with HTML.
ReplyDeleteI'm starting a blog soon but have no coding experience so I wanted to get guidance from someone with experience. Any help would be greatly appreciated!
Also visit my homepage Air Max TN
Hey! I know this is somewhat off topic but I was
ReplyDeletewondering which blog platform are you using for this website?
I'm getting sick and tired of Wordpress because I've had issues with hackers
and I'm looking at options for another platform. I would be fantastic if you could point me in the direction of a good platform.
My page - Abercrombie Brussel
There is definately a lot to find out about this topic.
ReplyDeleteI like all of the points you've made.
Also visit my homepage :: www.officielleairjordansshop.com
It's hard to find experienced people on this subject, however, you seem like you know what you're talking about!
ReplyDeleteThanks
my web site ... Air Max Pas Cher
May I just say what a relief to find someone who genuinely understands what
ReplyDeletethey are discussing on the web. You certainly know how to bring
an issue to light and make it important. More and more people should
read this and understand this side of your story.
I was surprised you are not more popular because you definitely
have the gift.
my webpage - Abercrombie
I like what you guys are up too. This kind of clever
ReplyDeletework and coverage! Keep up the awesome works guys I've incorporated you guys to blogroll.
Here is my page; Air Max
I'm amazed, I have to admit. Seldom do I encounter a blog that's equally educative and amusing, and let
ReplyDeleteme tell you, you've hit the nail on the head. The problem is something which too few people are speaking intelligently about. Now i'm very
happy that I stumbled across this during my search for something regarding this.
my blog - Air Jordan pas Cher
I'm impressed, I have to admit. Rarely do I come across a blog that's
ReplyDeleteequally educative and entertaining, and without a doubt,
you've hit the nail on the head. The issue is something that not enough men and women are speaking intelligently about. Now i'm very happy I came across
this in my search for something relating to this.
My website Nike Air Max
Wow! After all I got a blog from where I be able to in fact get
ReplyDeletevaluable data regarding my study and knowledge.
My web-site Evgeni Malkin Authentic Jersey
Unquestionably believe that that you said. Your favorite reason appeared to be at the net the simplest factor to remember
ReplyDeleteof. I say to you, I definitely get annoyed even as other
folks think about worries that they plainly don't know about. You controlled to hit the nail upon the top as well as outlined out the entire thing without having side-effects , people could take a signal. Will probably be back to get more. Thank you
Feel free to visit my blog ... Abercrombie Bruxelles
Hi there! I know this is somewhat off topic but I was wondering if you knew where I could get a captcha
ReplyDeleteplugin for my comment form? I'm using the same blog platform as yours and I'm having problems finding
one? Thanks a lot!
Here is my website ... Mario Lemieux Authentic Jersey
Excellent goods from you, man. I've take note your stuff previous to and you are just extremely great. I really like what you've got
ReplyDeletehere, really like what you are saying and the best way during which you assert it.
You're making it entertaining and you still take care of to stay it wise. I can not wait to learn far more from you. This is really a tremendous site.
My web page Chaussure Air Jordan
Attractive section of content. I just stumbled upon your site and in accession capital to assert that I acquire
ReplyDeletein fact enjoyed account your blog posts. Any way I will be subscribing to your feeds and even I achievement you access consistently fast.
my web page ... Gucci Scarpe
Hi there friends, its great article regarding tutoringand fully explained,
ReplyDeletekeep it up all the time.
Feel free to visit my blog: more :: ::