Before the "financial tsunami", the markets and the investors were all optimistic. Jérôme Kerviel's kind of blatant fraud which involved billions of dollars, would not escape the attention of the his bosses in Société Générale . However they were more than willing to turn a blind eye as long as it was making money. This reflects the systemic problem in the market. One exemplary example is Alan Greenspan who was working to deregulate the financial market, championing the "free" capitalism, in his days as financial advisor for Nixon to as Chairman of the Federal Reserve. |