Sources tell Reuters that Bank of America was likely not the first choice for Temasek because B of A did not offer the global banking franchise that prompted Temasek to buy into Merrill and other Western banks.
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That’s what they will have us believed!
Want to be largest shareholder in dynamic Merrill Lynch (a Global Investment Bank) – which is dead duck and a casino and fraud and reason for the collapse in the first place and don’t want to own a small 3% stake in an enlarged BOA, the small stake in a large deposit-taking bank – which is the safe recurrent high growth utility and future banking model which anyway own 100% of the so-called dynamic Merrill Lynch (a Global Investment Bank) which are besides themselves and can’t stop defrauding taxpayer by $4b bonus even on the last day!
A US$2.6b to US$4b loss even in a US$130b portfolio is NO tactical mistake but a glaring failure….this doesn’t take away Temasek’s past and current success…but a success is called a success and a failure is called a failure, nothing to hide and nothing to be shy about….
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