Lee Kuan Yew is all over the news today, talking about GIC’s 25% loss. In particular, he has been defending GIC’s investments in the banks. I’ve written extensively about these investments, but MM Lee’s latest attempts and defending GIC are some of the crappiest shit I’ve seen in a while.

Damn it – I’m just absolutely fed up with Lee’s crap. For goodness sake already, just own up and admit that GIC did not have a clue.

MM Lee was quoted today in the Business Times, saying:

 ’We became cash-rich and when the market fell, we went into UBS and Citi,’ he said. ‘But we went in too early. That’s part of the ride.’

…

‘How could we have known this was the extent of the damage? You look at all the big-name banks – they have gone down, misjudged the situation, ruined their careers,’ Mr Lee said.

Here’s the octogenerian politician, trying to wriggle his way out by claiming that GIC could not have known the extent of the damage. He blames the big-name bankers for ruining their careers, and says its all “part of the ride”.

Well, thats a bucketload of bullcrap.

You want to know how you could have “known the extent of the damage”, Mr Lee?? I’ll Tell You HOW!!!

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