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To all you retards :oIo: who can't spell 'Long Term Investment', shame on you for your myopic vision. I bought Citi for a buck and made a 100% return in double quick time. Citi is trading at 2.33 now. The reasoning was simple, Citi is a viable, going concern with tremendous potential. And if Citi goes under a buck, it will be taken off from Dow Jones Industrial Index and off the radar of funds.
Although Temasek's timing is not as impeccable as mine, I have no doubt their strategic long term investments in Citi, UBS, Barclays will turn profitable by 2010. And when it does, I hope all your morons will have the moral fibre in you to apologise to Mdm Ho for her visionary leadership during her term at Temasek.
US has averted new depression, recovery next year: Fed Chairman BernankePosted: 16 March 2009 0729 hrs
WASHINGTON - In his first television interview, Federal Reserve chairman Ben Bernanke predicted that America's worst recession in decades likely will end this year, and that the economic recovery would gather steam next year.
In the "60 Minutes" interview broadcast by CBS late Sunday, which the network said was the first by a sitting Fed chairman in 20 years, Bernanke said the "green shoots" of economic revival were already evident.
Predicting that no more big banks will fail, Bernanke also called on Washington's squabbling politicians to show the will needed for recovery as he spelled out just how close the world came to financial meltdown last autumn.
The US central bank chief, whose decision to sit down last Wednesday for the rare interview underscored the gravity of the crisis, said much depends on fixing the crisis-hit US banking system.
"We're working on it. And I do think that we will get it stabilized, and we'll see the recession coming to an end probably this year," Bernanke said.
"We'll see recovery beginning next year. And it will pick up steam over time," he said.
Asked if the United States had avoided a repeat of the 1930s Great Depression, Bernanke said: "I think we've averted that risk.
"I think we've gotten past that and now the problem is to get the thing working properly again."
Bernanke called for tougher regulatory reform to address systemic risks posed by an institution that becomes too big to fail, blasting the "unconscionable bets" taken by giant insurer American International Group.
"It makes me angry. I slammed the phone more than a few times on discussing AIG," he said, as the bailed-out insurance group was embroiled in a new political row over hefty bonuses planned for some of its top executives.
The government is now forcing AIG to jettison subsidiaries and use the profits to pay it back -- a model that Bernanke said also would apply to the major banks that have received taxpayer aid.
The banks now are being subjected to a "stress test" by Treasury Secretary Timothy Geithner and his team to ensure they have enough money put aside to ward off new crises, the Fed chairman noted.
"They are not going to fail," he said.
"But what we can do, should it be necessary, is try to wind it down in a safe way," Bernanke added, explaining efforts to augment banks' capital ratios and dispose of toxic assets with government help.
Government bailout money for the banking industry so far worth 700 billion dollars has proven politically toxic, especially given corporate perks and bonuses still being handed out by rescued lenders.
But in remarks that could rile critics of President Barack Obama's economic revival plans, Bernanke said "the biggest risk is that we don't have the political will.
"There's a danger, he said, that "we don't have the commitment to solve this problem, and that we let it just continue. In which case, we can't count on recovery," he said.
The political will for action had to be fomented by Bernanke and Geithner's predecessor Henry Paulson last September, in an urgent intervention with lawmakers on Capitol Hill.
Commenting for the first time on his actions back then, as global financial markets reeled, Bernanke said: "I felt we were pretty close to a global financial meltdown."
"It was very close," he said, arguing that without emergency powers given to the Treasury Department and Fed, "we could have had a much, much worse outcome."
CBS interviewer Scott Pelley said that when he approached the Fed for an interview a year ago, Bernanke's representative laughed and said the publicity-shy chairman "never" does interviews.
"Well, it's an extraordinary time," Bernanke told Pelley.
"This is a chance for me, I think, to talk to America directly." - CNA/vm
Although Temasek's timing is not as impeccable as mine, I have no doubt their strategic long term investments in Citi, UBS, Barclays will turn profitable by 2010. And when it does, I hope all your morons will have the moral fibre in you to apologise to Mdm Ho for her visionary leadership during her term at Temasek.
US has averted new depression, recovery next year: Fed Chairman BernankePosted: 16 March 2009 0729 hrs
WASHINGTON - In his first television interview, Federal Reserve chairman Ben Bernanke predicted that America's worst recession in decades likely will end this year, and that the economic recovery would gather steam next year.
In the "60 Minutes" interview broadcast by CBS late Sunday, which the network said was the first by a sitting Fed chairman in 20 years, Bernanke said the "green shoots" of economic revival were already evident.
Predicting that no more big banks will fail, Bernanke also called on Washington's squabbling politicians to show the will needed for recovery as he spelled out just how close the world came to financial meltdown last autumn.
The US central bank chief, whose decision to sit down last Wednesday for the rare interview underscored the gravity of the crisis, said much depends on fixing the crisis-hit US banking system.
"We're working on it. And I do think that we will get it stabilized, and we'll see the recession coming to an end probably this year," Bernanke said.
"We'll see recovery beginning next year. And it will pick up steam over time," he said.
Asked if the United States had avoided a repeat of the 1930s Great Depression, Bernanke said: "I think we've averted that risk.
"I think we've gotten past that and now the problem is to get the thing working properly again."
Bernanke called for tougher regulatory reform to address systemic risks posed by an institution that becomes too big to fail, blasting the "unconscionable bets" taken by giant insurer American International Group.
"It makes me angry. I slammed the phone more than a few times on discussing AIG," he said, as the bailed-out insurance group was embroiled in a new political row over hefty bonuses planned for some of its top executives.
The government is now forcing AIG to jettison subsidiaries and use the profits to pay it back -- a model that Bernanke said also would apply to the major banks that have received taxpayer aid.
The banks now are being subjected to a "stress test" by Treasury Secretary Timothy Geithner and his team to ensure they have enough money put aside to ward off new crises, the Fed chairman noted.
"They are not going to fail," he said.
"But what we can do, should it be necessary, is try to wind it down in a safe way," Bernanke added, explaining efforts to augment banks' capital ratios and dispose of toxic assets with government help.
Government bailout money for the banking industry so far worth 700 billion dollars has proven politically toxic, especially given corporate perks and bonuses still being handed out by rescued lenders.
But in remarks that could rile critics of President Barack Obama's economic revival plans, Bernanke said "the biggest risk is that we don't have the political will.
"There's a danger, he said, that "we don't have the commitment to solve this problem, and that we let it just continue. In which case, we can't count on recovery," he said.
The political will for action had to be fomented by Bernanke and Geithner's predecessor Henry Paulson last September, in an urgent intervention with lawmakers on Capitol Hill.
Commenting for the first time on his actions back then, as global financial markets reeled, Bernanke said: "I felt we were pretty close to a global financial meltdown."
"It was very close," he said, arguing that without emergency powers given to the Treasury Department and Fed, "we could have had a much, much worse outcome."
CBS interviewer Scott Pelley said that when he approached the Fed for an interview a year ago, Bernanke's representative laughed and said the publicity-shy chairman "never" does interviews.
"Well, it's an extraordinary time," Bernanke told Pelley.
"This is a chance for me, I think, to talk to America directly." - CNA/vm
:o
:oIo:
