In all of the media coverage of that wily Société Générale employee, Jérôme Kerviel, and those $7 billion that were lost in fraudulent trades, no one has pointed out the biggest villain of them all, which is Canada. Since nobody will stand up and rectify that– the Times, the Journal, the freaking FT– Canada will just have to be the one to do it. An impassioned plea from reporter Deborah Yedlin in the Calgary Herald implores readers to understand that there are several connections between the tract of land north of Vermont and the Paris-based bank. These nebulous links place the Big C at the scene of the crime, and so help me god, credit will be given where credit is due. 1. SocGen owns a piece of FirstEnergy Capital Corp., which is located in Canada. 2. SocGen was a member of the banking syndicate that financed the building of the Alliance Pipeline back in the late 90s 3. French. French is spoken in both Canada and France, where SocGen’s headquarters are. And who among us can argue with this incontrovertible evidence? Yedlin also reminds the crowd that market manipulator Brian Hunter is from Canada, and he was pulling this kind of shit way back in ’06. So it’s not even like they’re new to the scene. To finish off the stirring address extolling Canada’s up-and-coming status on the global financial fraud scene, Yedlin tells Canadians to suit up, put their game face on (I know now hockey metaphors — take out the false teeth?) and get ready to play an even bigger role in the next shithouse fraud; her oratory may well end up the Canadian equivalent of Henry V’s Agincourt speech:
“The next time — and there will undoubtedly be a next time — a financial crisis of some sort erupts in a far-flung part of the world, we all might be best advised to leave the smug face in the closet. The global reach of the financial world is alive and well in Calgary.”
City On Global Finance Map [Calgary Herald]
They already had their scandal. BMO with Optionable…BMO had a decent write-down. Do they always have to fight to be like their southern neighbors for a piece of the scandal pie?
Canadian newspaper says – We matter!
Who cares? Fuck, I live in Calgary and I don’t care. Anyone who has been to New York, London, Paris and Calgary will clearly realize that Calgary is nary close to the other three. What’s next? Drawing parallels between Saskatoon and other major world cities because Saskatoon is where CCO and POT run their franchises and because the world needs uranium and fertilizer? People out here should just STFU, take the world’s $$$, and continue to STFU.
@6:58 – I have heard rumors from traders that the BMO nat-gas dealios from last year still have positions that haven’t been unwound (or if they have exited, the bank is doing its damn finest to keep the additional losses quiet)
wouldn’t be surprised…
i got burned somewhat by investing in OPBL (Optionable stock) after it had already tanked a bit.
I am the most offending soul alive.
Wait. I didn’t know they had the Internet in Calgary.
Yes, it runs at low speed over ranchers’ barbed wire fences up from Montana. One day, maybe we will get AOL.
Cal: I spent a night once in Calgary, on the way to Banff. Very attractive women, in a big blond healthy Houston (Texas, not Whitney) kind of way, but not as flashy. More jeans and tshirts. Was I just in the right place that night, or is it generally true.
anonymous: you were just drunk. they call it cow town for a reason
try “tape up their sticks” or my personal favorite “put on the foil”
Where’s Canada?
up
Why all this Canada bashing. Hasn’t anyone ever been to a bachelor party in Montreal? It was even better when the C$ was ~.70. No longer a bargain, but still excellent.
@10:12 – generally true. the flash factor has amp’ed up in the past few years, but not on the scale that americans in a-list towns would consider flash. when you’ve got tards like hunter driving ferraris and bentleys around, it starts setting a gimme gimme gimme tone. a bmw was relatively rare 8 yrs ago and now m3/5/6 abound – all principally due to energy-related gains.
We love our oil!!!! well actually Nat Gas but who the fuck are we kidding…dinosaur farts are dinosaur farts so we will take what we can get: bentlys, bitches and big fucking fish.