Ian Bunn | Political & Popular Culture Arts

A better version of capitalism (November 26th)

Mike Mayo the managing director at Credit Agricole Securities has called for a better version of capitalism in his book “Exile on Wall Street: One Analyst’s Fight to Save the Big Banks From Themselves”. Mayo states in his book “What we need is a better version of capitalism. That version starts with accounting: Let banks operate with a lot of latitude, but make sure outsiders can see the numbers (the real numbers). It also includes bankruptcy: Let those who stand to gain from the risks they take—lenders, borrowers and bank executives—also remain accountable for mistakes … A better version of capitalism also means a reduction in the clout of big banks. All of the third-party entities that oversee them need sufficient latitude to serve as a true check and balance.”

Inspired by Mike Mayo http://ow.ly/7rMOw image source hereisthecity http://ow.ly/7rMXU

Christine Madeleine Odette Lagarde the 55 year old French Minister of Economic Affairs has been nominated with the support of UK and German governments as a possible successor to Dominique Strauss-Kahn following his resignation as Managing Director of the International Monetary Fund (IMF). Lagarde potentially also has support from the USA, along with many other EU nations. Despite 187 countries having representation on the IMF, there is a quota based voting system favoring the USA and EU, providing an unwritten convention that the USA nominates the president to the World Bank, and the EU nominates the managing director for the IMF. Although not an economist, Lagarde stated on her nomination “If I’m elected, I’ll bring all my expertise as a lawyer, a minister, a manager, and a woman”.

Inspired by Annie Lowrey http://ow.ly/55OFE image source MEDEF http://ow.ly/55OAE

Dominique Strauss-Kahn, known as DSK, the 62 year old French economist, politician and Managing Director of the International Monetary Fund (IMF), following his arrest in New York on allegations of sexual assault, has now been indicted by a grand jury to face charges relating to the allegations. Strauss-Kahn was believed to be on the verge of announcing his intention to stand for election to the French Presidency as the Socialist Party candidate, against the incumbent Nicolas Sarkozy.  The majority of French believe the allegations are a smear campaign to stifle his candidacy, however a 32 year old maid at his hotel suite claims Strauss-Kahn emerged naked from the bathroom to chase her about the spacious suite and began sexually assaulting her, including forcing her to perform oral sex.

Inspired by NYDaily News ow.ly/4UQ07 image source Wikipedia ow.ly/4UQ4S