Citigroup Saw No Red Flags Even as It Made Bolder Bets
NYT
By ERIC DASH and JULIE CRESWELL
Published: November 22, 2008
... But many Citigroup insiders say the bank’s risk managers never investigated deeply enough. Because of longstanding ties that clouded their judgment, the very people charged with overseeing deal makers eager to increase short-term earnings — and executives’ multimillion-dollar bonuses — failed to rein them in, these insiders say.
Again: the next time your respected opponent mentions "self-regulation", laugh loudly.
Digression: The article cited above reads a lot like similar post-mortem articles written about Enron.
Seems no one paid much attention to the dynamics of Enron's failure once the blame was pinned on Lay, Skilling, and Fastow.
"Just a few bad apples - that could never happen here!"
Yes, Lay was willfully, negligently ignorant. Yes, Skilling pushed beyond the bounds of prudent business practice; and yes, Fastow was more than happy to take advantage of Skilling's greed to line his own pockets... but the real story was the complete failure of Enron's internal controls.
... and, yes: it could happen "here" - wherever "here" might be!
Final Countdown
1 week ago
1 comment:
A myriad of people tend to be struggling with online payday loan credit debt in america a result of the lousy economic crisis. Through illnesses worsening on a daily basis, you can get all the more familys suffering from lacking jobs. Countless own took on pay day loans, in which impose unbelievably superior rates as well as can cause an important period with endless credit debt. There's lots of who would like to on-line to remove payday loans, and yet do not know a guidelines important to take action. You will need to discover to eliminate an easy payday loan at enoromus speed if you wish to avoid because of all the more profits / losses because the low rates of interest. The next few paragraphs can provide some sort of step-by-step help to get rid of who pay day loan debts.
Just how to stop a new payday loan Using a
[url=http://pozyczkagotowkowa24.net.pl]pozabankowe kredyty[/url]
Step 1 you have to take when getting outside of fast cash advance personal debt will be contact a skilled fast cash advance consolidator at once. They then and also individuals usually have the actual experience necessary to talk in your part to achieve a new dramatically reduced charge. Quite a few payday loans loan companies understand that they could do not ever become any one the money-back whether they may not be further lenient with regards to low rates of interest. In some cases, the interest estimates using a lending product are generally thoroughly reduced whilst only the principle mortgage has to be returned.
[url=http://szybkikredyt24.org.pl]szybki kredyt[/url]
If you experience a number of cash loans to help numerous corporations, this is certainly an incredibly fundamental have while it will certainly slow up the arrears responsibility drastically. More to the point, the fast cash advance consolidator will in most cases handle the bank loan for you to start that relief for your personal payment for.
Doing away with an online payday loan by simply Preserving
[url=http://kredytprzezinternet24.net.pl]kredyt przez internet[/url]
The next phase valuable part of elliminating online payday loan unsecured debt is usually to do a number of considerable introspective cardiovascular browsing related to your own spending habits. There are a selection in why you should be on payday cash advance credit card debt, although abnormal paying is most probably an incredible reason regarding issue. In case you are eating at restaurants, regardless the simplest way economical, everyone are usually having to pay too much money. If you wish to learn eliminate an advance payday loan, it is advisable to first of all discover how to lower your expenses.
[url=http://chwilowki-bez-bik.net.pl]kredyt przez internet[/url]
That can be done the following when you go to your retailer so that you can stuff your entire meals requirements. Shop for basically the requirements, just like breads, offspring, profits, plus veggies, and avoid another sodas and snacks that could be hazardous for your resources. Implementing discount coupons can be a further strategy for lowering costs which you can use that allows you to repay that lending products much faster.
[url=http://pozyczka-przez-internet.net.pl]kredyt online bez zaświadczeń[/url]
Last of all, make an effort to cut over the different leisure for which you buy during the entire thirty day period. It may suggest that people eliminate having a drink, refrain from concert halls, and also all other type of happiness which can be costing one capital. It is actually time and energy to produce surrender to get an individual's fast cash advance bill cared for promptly.
[url=http://pozyczkigotowkowe24.com.pl]pożyczka prywatna[/url]
Post a Comment