Word: rome
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...latest movie rekindles Asterix's eternal battle against Julius Caesar, again feeding on France's sense of cultural independence. Ironically, Asterix himself has become a new empire, and one that easily rivals ancient Rome. He leaves nothing unbeaten but the hegemons of Hollywood...
...Following their meeting Wednesday, board members said they had rejected Bouton's resignation in order to preserve stability while the bank is still reeling from the $7.13 billion loss resulting from derivative trader Jérome Kerviel's illicit futures speculation. Many cited Bouton's storied record of fiercely defending Société Générale's independence in the past. But even before that day had ended, the general surprise that greeted Bouton's survival gave way to anticipation that he'd been kept aboard as the best-placed expert to chose the best among several...
...board's rejection of Bouton's resignation surprised many observers, considering who has been calling for heads to roll after the bank's staggering losses from allegedly unauthorized speculative activity by Jérome Kerviel, a junior derivates trader. Earlier in the week, French President Nicolas Sarkozy led a parade of government officials signaling expectations that the highest ranks of the bank's management would step up and assume responsibility in the affair. "We are in a system where, when you have a big salary - which is without doubt legitimate - and there is a big problem, you cannot escape your...
...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...
Most expect that the next showdown at the polls will feature Berlusconi and Rome Mayor Walter Veltroni, who was Prodi's No. 2 back in 1996-98 administration but is no longer close in the same camp. There are reports that Prodi will team up with small parties from the far left to try to stave off Veltroni's rise, which would no doubt bring on more nasty infighting. Many believe that a caretaker government made up of moderates from both center-left and center-right is necessary to bring about the reform necessary to bring more stability...