There has to be something fundamentally fucked about a financial
industry which has seen two catastrophes on derivatives in the
local government area, one in Britain, one in the US, and even
after that cant manage to put in place controls to prevent a single
person in a hundreds of years old bank just sinking it completely.

With some like the Lloyds fiasco you could sort of explain it away
by saying it was such an unusual institution that its not that
surprising if no one noticed it was all coming unstuck till too late.

Cant use that excuse with the Barings debacle tho. They clearly
have just been mouthing platitudes and doing sweet fuck all about
anything else. Be fascinating to see if even now they actually do
anything or just think that it makes more sense to do nothing.

--- PQWK202