Is Singapore SWF Reading This ?

Maybe Singaporeans are not as smart as they think themselves to be ? They lost billions in Citi :-

Treasury Will Sell Its Citi Stake -- and Reap Billions in Profit

The Treasury Dept. will sell its stake in troubled banking giant Citigroup (C) over the course of the year, it announced today. This sets up the government to make a substantial profit at the bank's current share price.

Treasury says it will sell the 7.7 billion shares of Citigroup common stock it received in June, 2009, in connection to a $45 billion federal bailout. The government paid $25 billion for the stake, or $3.25 a share. At Citi's current share price of around $4.28, Treasury would book a profit of about $8 billion.

"Treasury intends to sell its Citi common shares into the market through various means in an orderly and measured fashion," the department says in a press release. "Treasury intends to initiate its disposition of the common shares pursuant to a pre-arranged written trading plan."