With what happen to a well know banking giant like Societe Generale and a so called "rogue" dealer. Now what happen if this happen to other bank giants like Citibank or UBS. You really wonder if transparency would have helped prevent it. Okay maybe not really since we already know we have investment in those two bank thus if something goes bad the news would cover it and reveal the information. But what if there are other banks we have no idea money from our island was invested in them and something like this happen. Do we get to know about it? Do we have fund invested in Societe Generale we also might not know hehehe.... when i was reading this rather "ill timed" news....."Transparency" pops into my head again heheh...
Imagine someone doing this and they cover it up and at the same time try to cover the loses somehow to safe guard the situation by misleading information long enough to recover their position like nothing happen or even concealing it from their bosses or the owners of the bank. Till it get too big..it all burst wide open like a dam and the guilty bugger bolts and go into hidding....and the bank still keep mums about it till it is too late. That sents a chill up my spine.
Imagine someone doing this and they cover it up and at the same time try to cover the loses somehow to safe guard the situation by misleading information long enough to recover their position like nothing happen or even concealing it from their bosses or the owners of the bank. Till it get too big..it all burst wide open like a dam and the guilty bugger bolts and go into hidding....and the bank still keep mums about it till it is too late. That sents a chill up my spine.