Eugene David ...The One-Minute Pundit |
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Thursday, January 24, 2008
Well, we've found two things to say about that French bank fraud, courtesy of The Econowiz: first, the bank was "named equity-derivatives house of the year by the Banker magazine in 2007." Second, the fraud's scope is proof of the efficiency computers have introduced into finance. Needless to say efficiencies on the upside mean efficiencies on the downside too, which some CFOs have yet to discover.
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