Re: LKY n GIC showed poor judgement investing in UBS



No different from those people who lost money in share market recently.


"truth" <truth@xxxxxxxxxxxx> wrote in message
news:mKndq.2633$NR2.647@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
At the time when GIC made the investment, the people responsible including
Ng Kok Song the GIC Chief investment officer, claimed that UBS is a superb
bank and the opportunity to take up a large ownership of the bank must not
be missed.
Now we know what a rotten bank UBS is. It cannot even managed its' traders
properly. What sort of internal control is that in this days and age after
the GFC to allow a trader to run a $10 billion exposure way over his
limit.
This proves that the people in GIC have poor judgement and foresight. I am
worried for our reserves.



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