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« "The Plot to Destroy America's Beer" |
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"Jérôme Kerviel owes the bank $6.3 billion."
(With some helpful tips if you want to try to follow his path.)
Posted by Craig on 05:40:00 AM in Business
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As I tell my students [especially in budget] the payoff for successfully finding a 'hole' in the system is always much larger [for the individual] than the payoff for someone seeking to plug holes. And no matter how many holes you plug there are always more [I'm always tempted to bring in Godel here but restrain myself]. Therefore, you'll always have some one 'ripping off' the system. The trick is to keep the damage to a minimum.
Legislators, unfortunately, continue to believe that same harsh set of regulations or other can totally prevent the problem. In my estimation such efforts only make the likelihood of disastrous damage greater.
November 17, 2012 at 10:44 AM
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