Saturday, January 26, 2008

Book 'Im, Dan-o!

So they've arrested Jérôme Kerviel in France. Will we find out how this enormous debacle happened? I dunno... I'm skeptical. I think he's going to be the Lee Harvey Oswald of high finance crime: whether or not you believe one moderately intelligent but unimpressive schmo could pull off a swindle this big will probably say as much about you as anything else. My opinion: the very fact that no one paid any attention to this guy at all is how he could do it—you trust him because you can't imagine any reason not trust him. And he's doing it all a little bit at a time so he doesn't realize what kind of deep water he's waded into and neither does anyone else. 

But then again, it could be a vast conspiracy.... 

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