Word: concealments
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Does this add up to a conspiracy on the part of the two top bank officials to conceal Barings' mounting losses? Some of those who worked with Leeson and Norris, as well as British authorities, are unconvinced. While prepared to concede gross incompetence on the part of senior Barings management, they find it difficult to believe Bax and Norris could have known about or suspected the magnitude of Leeson's swindle and remained quiet...
...Japanese banks if those banks are playing games with us. It will also make anybody doing business with Japanese banks very cautious." In addition to pleading guilty today to doctoring records to hide years of losses, Iguchi also pleaded guilty to conspiring with Daiwa's senior management to conceal the losses. Iguchi faces 90 years in jail and a minimum fine of $3 million...
...stereotypes. Frantz Fanon explained this phenomenon as a response to an image of the negative; blacks are automatically deemed bad (inferior, dangerous) by being the opposite of whites. African Americans cannot hide their color the way whites can hide their feelings about color. The only ways they can conceal themselves are to "pass" or disappear into white culture (this is a major theme of early African-American fiction), or to develop secret forms of knowledge or communication, as slaves once did. In the opening scene of Spike Lee's movie Clockers, street kids deliberately are shown to speak unintelligibly...
...simple: whenever he lost money as a government-bond trader, Iguchi allegedly plucked and sold bonds from Daiwa's own accounts or those of its customers, and then forged documents to make the trades look like authorized transactions. He seemingly sought no gain for himself other than to conceal his losses...
...based derivatives trader who racked up $1.4 billion in hidden losses that broke Britain's Barings Bank when they came to light last February. Like Leeson, Iguchi was simultaneously in charge of making trades and recording them in his firm's back office--a combination that enabled him to conceal the true nature of the transactions. But unlike Leeson, who has remained in a German jail while Singapore continues its effort to extradite him, Iguchi traded nothing more exotic than U.S. Treasury securities. They are "as plain-vanilla a financial instrument as you can find," notes Marc Cohen, managing director...