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Showing posts with the label Mistakes

(20a) No-one was completely prepared for this coronavirus crisis and thus mistakes were made

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Again a journalist who may think that President Trump may not survive the coming presidential elections by repeating he didn't do enough to halt the coronavirus crisis . I'm not sure this is a good strategy from opponents as he can repeat again and again what he did before any other country. Indeed, at the end of January President Trump ordered the closing of USA's borders for people coming from China and later acted on Americans returning from China. And yes, he had to defend this decision as not everyone agreed. And again and again because opponents can't say this was good. Later when the catastrophe in certain European countries became clear, President Trump ordered on March 12 the closing of the USA for Europeans , a move condemned by the EU that only a few weeks earlier ruled out to close Europe's Schengen borders although the virus was already obvious in Italy. A few days later the EU was forced to close its external borders while one country a...

(13b) The wrongs within banks.

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It seems Mr Kweku Adoboli, originally from Ghana, was crying in October while he was giving evidence in an English court. In November, he was sentenced to seven years in prison for fraud tied to a $2.3 billion loss, the largest from unauthorised trading in U.K. history. The bank was later fined 29.7 million pounds ($47.6 million) by a U.K. regulator for weaknesses in management systems and internal controls that allowed Mr Adoboli to make risky trades. A few of his direct colleagues and manager also left or were fired by USB because of their incompetence as they didn't see what was going on. I read Mr Adoboli and his fellow trader, Mr Hughes, aged respectively 27 and 24 years, were in charge of a $50bn portfolio by the bank UBS. And this without previous experience. In comparison, I was allowed to spend a few thousands of pounds in a previous job, or I had to ask permission from my boss because maybe money was needed for something more urgently, and this forced us to think about...