European Tribune - Comments - Not liquidity. Solvency.

Not liquidity. Solvency. | 83 comments (83 topical, 0 editorial, 0 hidden)

How on earth did these disappear?

Because the big audit firms can't or won't do their jobs?

by Colman (colman at eurotrib.com) on Mon Dec 17th, 2007 at 10:46:08 AM EST
[ Parent ]

Because there's more money in not doing your job than doing your job. and because there are no real penalties for not doing your job.

Any idiot can face a crisis - it's day to day living that wears you out.

by ceebs (ceebs (at) eurotrib (dot) com) on Mon Dec 17th, 2007 at 11:26:53 AM EST
[ Parent ]

Re: Yep (4.00 / 4)

Because it's institutional fraud on a massive scale.

It's the biggest bank robbery in history, with the banks as the criminals.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Mon Dec 17th, 2007 at 11:58:56 AM EST
[ Parent ]

Re: Yep (4.00 / 4)

and it's being followed up with blackmail. "You'd better let us get away with it, otherwise the banking system will collapse"

Any idiot can face a crisis - it's day to day living that wears you out.

by ceebs (ceebs (at) eurotrib (dot) com) on Mon Dec 17th, 2007 at 12:22:23 PM EST
[ Parent ]

Re: Yep (4.00 / 2)

So the banking system is too valuable to leave it to the vagaries of market corrections... Another strategic sector of the economy?

We have met the enemy, and he is us — Pogo

by Migeru (migeru at eurotrib dot com) on Mon Dec 17th, 2007 at 12:26:51 PM EST
[ Parent ]

Re: Yep (4.00 / 2)

In the UK sometime soon there will be the court case covering banking penalty charges, which could cost UK banks a further £4.5 billion per year (Plus they may have to pay back up to six years of charges if it turns out they were illegally taken)

Any idiot can face a crisis - it's day to day living that wears you out.

by ceebs (ceebs (at) eurotrib (dot) com) on Mon Dec 17th, 2007 at 12:36:14 PM EST
[ Parent ]

Not liquidity. Solvency. | 83 comments (83 topical, 0 editorial, 0 hidden)

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