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Repo 105: Creative accounting at Lehman Brothers | 55 comments (55 topical, 0 editorial, 0 hidden)
Re: Creative accounting at Lehman Brothers (4.00 / 2)
Metatone:
it's about norms and operating culture.

Which is why social settings like the City of London are important. Setting up the work in another place would be easy but setting up an environment where everyone fawns over your sociopathic norms instead of condemning them, that is the hard part.

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by A swedish kind of death on Thu Mar 18th, 2010 at 05:36:57 AM EST
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Re: Creative accounting at Lehman Brothers (none / 1)
You mean Dubai or Singapore or Hong Kong don't fit the bill?

The brainless should not be in banking -- Willem Buiter
by Carrie (migeru at eurotrib dot com) on Thu Mar 18th, 2010 at 05:55:55 AM EST
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Re: Creative accounting at Lehman Brothers (none / 1)
Authoritarian places are actually quite complex to deal with... if you do as much damage to Singapore, Dubai or HK as The City has done to the UK there would be some heavy consequences...
by Metatone (metatone [a|t] gmail (dot) com) on Thu Mar 18th, 2010 at 06:00:23 AM EST
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Re: Creative accounting at Lehman Brothers (none / 1)
I mean of course, that if you do that damage while you are based there...
by Metatone (metatone [a|t] gmail (dot) com) on Thu Mar 18th, 2010 at 06:00:53 AM EST
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Re: Creative accounting at Lehman Brothers (none / 0)
Masters of the Universe would not like being caned.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Thu Mar 18th, 2010 at 05:16:34 PM EST
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Re: Creative accounting at Lehman Brothers (4.00 / 2)
Actually, I would assume that they do fit the bill. I am not sure that those currently in London would relocate there though.

But I think the current number of such places is limited and if the City was out-regulated there would be one less. It would also be interesting to see if our political elite would listen so much to advice coming from Dubai.

Sweden's finest (and perhaps only) collaborative, leftist e-newspaper Synapze.se

by A swedish kind of death on Thu Mar 18th, 2010 at 02:55:08 PM EST
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Repo 105: Creative accounting at Lehman Brothers | 55 comments (55 topical, 0 editorial, 0 hidden)
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