Word: rome
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Dates: during 2000-2009
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...what could be one of the biggest inside frauds in banking history, French futures trader Jérome Kerviel, 31, effectively created his own trading firm within the bank's market rooms, according to Société Générale CEO Daniel Bouton. "He succeeded in building this hidden firm, in building his positions by hiding them by other positions that were totally fictional," Bouton told reporters at a Paris news conference on Thursday. "That is what is so extraordinary about this case." Bouton's offer to resign was rejected by the bank's administrators this week...
...long tapped to take over the center-left from Prodi is Rome mayor Walter Veltroni. He talks the lofty rhetoric associated with American-style democracy - of change and courage - and cites Robert Kennedy and Barack Obama. But it is telling that Veltroni did not challenge the older Prodi for the right to lead the charge against Berlusconi in 2006, though he was far more popular. Instead, he waited his turn. Now that his moment is arriving, Veltroni should resist the temptation to cut deals with the leaders of small parties - the Mastellas of the left, right and center...
...Prodi no longer has a working majority in the Italian Senate. By virtually any reckoning in Italy's complex political arithmetic, this should spell government crisis - and, it would seem, the final bell for the 68-year-old pol, who was resurrected after his last fall from power in Rome by becoming president of the European Commission in 1999. When asked by reporters "How's it going?" just before his address to the Italian Parliament on Tuesday, Prodi declared his faith in his own survival skills. "Very well," he said. "I think I can make it this time...
...Berlusconi - it looks like "ciao-ciao" for Prodi. Italian President Giorgio Napolitano could call for immediate elections, or assign a caretaker government to usher in a new electoral law and other much-needed reforms. Most pundits predict that the next national showdown at the polls will feature Berlusconi against Rome's mayor and leader of the newly formed Democratic party, Walter Veltroni. But already Tuesday, Italian dailies were speculating that Prodi would try to fend off Veltroni and take on Berlusconi again...
Whether Nicolas turns out to be cut more from the Arrupe or Kolvenbach mold remains to be seen. A Jesuit source in Rome said that the new boss had ruffled Vatican feathers in 1998 with his role in a request by Asian bishops for more local authority for Church decisions. If that is an omen for the nature of his administration, the new black pope may find himself clashing with the regular Pope, who has reaffirmed that ultimate authority lies with the Vatican...