Pap minister desmond lee questions wp but not temasek and gic

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An honorable member of the Coffee Shop Has Just Posted the Following:

PAP MINISTER DESMOND LEE QUESTIONS WP BUT NOT TEMASEK AND GIC

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10 Nov 2014 - 8:39am








Desmond Lee, the Minister of State for National Development is the latest attack dog appointed by the PAP to question and hound The Workers’ Party on its town council funds.
Desmond Lee was appointed to Minister of State only 2 years after he was parachuted into Parliament via Jurong GRC. In other words, he is as lightweight as any newbie politician can be. Hence one can only surmise that he was given the senior appointment for reasons other than that related to competence.
Now as a former Associate Director in the Legal and Regulations Department at Temasek Holdings and currently a senior member of the ruling party, he should be privy to all the billion dollar losses sustained by Temasek Holdings and its sister company the GIC.
Since he is now harping on Workers’ Party’s management of AHPETC’s finances, we wish to ask him:
What does he think of these gargantuan losses by both Temasek and GIC?
Do they have license to gamble with the nation’s assets just because they are affiliated with the PAP?
http://asiancorrespondent.com/104218...lion-what-now/
“They pretty much went through it unscathed,” Bagli says, “but CalPERS [the California Public Employees' Retirement System], the largest pension fund in the country, lost $500 million. Poof — gone. … Another pension fund down in Florida lost $250 million. The government of Singapore, well, they lost the most — over $600 million. It all just went poof.”



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