Singapore SWF could invest $5 billion in US bank

Temasek, the Singapore finance ministry's sovereign wealth fund, could be the latest fund to cash in on Wall Street's subprime losses by injecting as much as $5 billion into Merrill Lynch in exchange for what could amount to a 10% stake in the American bank.

The Wall Street Journal newspaper reported on Friday that the board of Temasek, which invested $4 billion in Standard Chartered last year, had preliminarily approved the deal.

Merrill Lynch wrote down $8.4 billion-worth of mortgage

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