You have the floor – Damien Marietta. Financial Crisis: “Let us remember 2008 – or: naked capitalism”
Today, Damien Marietta, manager of equity portfolio in a large French investment bank, estimates that 2008 has served to reveal the weaknesses of finance. "Down the masks could be the moral of the year 2008 where financial capitalism was allowed to appear weaknesses.
Do not forget, we have just witnessed, pell-mell, to the greatest stock market crash since 77 years. A financial scandal of unprecedented proportions. The last case Madoff, is almost a caricature, with thousands of savers robbed and regulation to subscribers absent. Besides the Kerviel affair, last January, is almost pales: do not forget, however, it remains the biggest trading loss in history (just over 5 billion euros).
Remember that in 2008 the fund has shown that it
We need to learn lessons: to jump into the sea when we heard the sirens is suicidal. Reap 10% a year without risk of capital loss is purely utopian. Just as it is not reasonable to invest when you do not understand financial products. No reasonable, finally, to a blind faith in modern finance and its "High-Tech". Open our eyes in 2009, and did not let capitalism again be covered with borrowed clothes. "
Tags: financial capitalism, financial scandal, investment bank, modern finance