That’s what I feel like, harping on the Criminal Element…nag, nag, naggity, nag. I thought, in this blog, I would only compose fresh and clever thoughts as to stimulating a floundering economy but, really, what’s the point?
Sayings like “one bad apple spoils the whole bunch” didn’t become Truisms because they are false.
To what purpose shall we scramble to concoct innovative, sustainable commerce when the same Bad Guys who gummed up the works are still in the game? What…like they only know how to cook up nefarious schemes? I’m pretty sure that Bad Guys can convolute and corrupt a Good Plan to skew the benefits in their favor.
I go back to Society’s not being able to have it both ways…certain Players are either among the most brilliant or the most dense men on earth. I’m pretty sure it’s not the latter, or they wouldn’t be the ones holding the money.
I previously took exception with French Finance Minister Chritine Lagarde diplomatically declining to participate in “the Blame Game,” when she was asked whether U.S. activity had prompted the global turmoil. I am hopeful that the following precipitates a shift in her thinking toward the more time-honored Let The Punishment Suit The Crime.
PARIS, Oct 17, (Reuters) – France ordered an audit of all its banks after Caisse d’Epargne, which is merging with Banque Populaire to become the country’s second-largest retail bank, disclosed a 600 million-euro ($808 million) trading loss.
Savings bank Caisse d’Epargne (CdE) said the loss on share derivatives earlier this month was detected during normal controls. It took immediate action to close the position.
The loss spurred French Finance and Economy Minister Christine Lagarde to ask for a special audit of all banking institutions in France. “I am particularly frustrated and discouraged by what happened,” Lagarde told reporters.
A spokesman for Caisse d’Epargne said the loss was caused by a “small team” which had been punished for exceeding its trading risk limit. The bank said an assistant of finance head Julien Carmona had been dismissed…