The $158 billion Singapore Budget Accounting Fraud: Part I
In the past decade, we have become all to used to corporate accounting scandals. Respected companies like Olympus, Lehman Brothers, AIG, and the most notorious fraudster Bernie Madoff have all been caught blatantly manipulating accounting statements dating back many years. As a result of their behavior, those responsible...
Tour de France cyclists in Singapore
The National Development Minister Khaw Boon Wah 'investigated' and found the 26 Brompton bikes purchased by the National Parks Board (NParks) at $2,200 each was a very good deal. Apparently, the bikes were chosen because it was cheaper then retailed. On the Internet the prices of various Brompton models could be found at...
Singapore Govt Finance: What We Know So Far
Before we get back to analyzing the made up finances of the Singaporean government, GIC, and Temasek, I thought this would be a good place to stop and go back over what we know for a fact. 1. The government of Singapore has an official balance sheet as of March 31, 2011 listing $705 billion SGD of assets and of that $125...
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