Tuesday, July 31, 2012

Citi: The better man lost

John Reed vs Sany Weill. It is not always the better guy who wins. More than ten years ago the better man lost: John Reed. How could this had happened? Well just like John Mack vs Phil Purcell at Morgan Stanley, the  better man lost too. How so? Both Johns trusted the wrong guy and got played out by the shenanigan of the other party. In the extreme that was how the legendary Sun Pin the grandson of Sun Zi suffered at the hands of Pang Juan.

Because ambitious self centered empire builders won, the global financial system had suffered, but as they say, it is all history now. We are all mired in trouble.

Break up these banking behemoths. Whatever good they might bring us is cancelled by their liabilities.

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