Following is a letter sent to the Editor of the Financial Times:
Sir,
Are these the same shareholders that ignored the incompetent management and gave them fresh capital to play with? ("Investors vent their fury at SocGen's chairman" May 27, 2008)
I wonder what they needed to wake up to the fact that this management was incompetent and not deserving of further support.
Nothing new here. The managers failed and the shareholders did´t seem to get it.
Sounds like we need new fund managers handling our money!
Onésimo Alvarez-Moro
See article:
Investors on Tuesday lashed out at Daniel Bouton, the long-standing chairman of Société Générale, over the fraud that cost France’s second-biggest bank €4.9bn ($7.7bn).
See full Article
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