by Julia Schrenkler
Member since:
August 31, 2005

Worried about a financial butterfly effect?

January 25, 2008 09:28 AM EST
views: 54 | rating: 10/10 (1 vote) | comments: 3

The Societe Generale can't catch a break. The French bank lost billions to fraud (Marketplace) and according to the report, it has to raise 8 billion in emergency capital. And people worry about balancing their personal checkbooks...

Any thoughts on the butterfly effect of this?

Something tells me this heist won't charm people in the same way the Albert Spaggiari heist in 1976 did.

________________
Julia Schrenkler
Interactive Producer
Minnesota Public Radio
American Public Media
Objects in Mirror

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Comments: 3

Susan Budig Jan 25, 2008, 10:50am EST
I'd better look at this, Julia. I've a friend who lives in Grenoble, France. She doesn't think we Americans pay much attention to any other place in the world (okay, so she's probably right).
Richard B. Jan 25, 2008, 11:02am EST
Yes Julia, that was almost funny, that he got away with it because he worked there and knew the ropes and the holes in the system at that bank.
Richard Frisbie Jan 26, 2008, 1:15pm EST
And the French claim we are too materialistic and consumed with money - then this happens to them.

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