29.05.2009 - Singapore defends Temasek's Bank of America sale
From Businessweek.com: The Singapore government has defended state investment company Temasek's sale of its stake in Bank of America Corp., saying the loss-generating trade didn't reflect a shift to short-term investing. Temasek sold its Bank of America shares after its 13.7 percent stake in Merrill Lynch & Co -- initially purchased in 2007 -- was converted after BoA bought the brokerage in January. Temasek held 188.8 million Bank of America shares worth about $2.6 billion in January.......Full Article: Source