I suppose one fine day we'll look back at the old days when all these people who got themselves into hot water by sending corporate emails that provided investigators, regulators, the media and others with a white-hot smoking gun of evidence. It's just a shame that that day is unlikely to occur within my three-score-and-ten years on the planet.
So here we go again with Goldman Sachs' Fabrice 'Fabulous Fab' Tourre conducting a romantic affair over the corporate system while referring blithely to "the entire system [being] about to crumble at any moment" and trades he created as a sort of "intellectual masturbation" made "without necessarily understanding all the implications of these monstrosities". Other internal Goldman messages referring to "crap pools" and "shitty" deals.
Do they never learn? In the wake of the dotcom bust it was discovered that financial analysts placing 'buy' recommendations on stocks were privately slating those same companies. Love trysts are commonly laid bare through an audit trail in black and white bits and bytes that humiliates both the people involved and their employers. Meanwhile, content management and e-discovery software firms rub their hands and laugh all the way to the bank as they are called in to identify yet more evidence of possible wrongdoing.
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Source: CIO UK
By: Martin Veitch