This Week's B-Side

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From the Editor's Desk

Now presenting, the b-side version 8.4.

Part eight.4 - How do you want to lose your billions?

A French bank just announced losses of $7.1 Billion dollars (only 4.9 billion Euros). This loss was the result of a trader who managed to hide his actions through a variety of transactions aided by his knowledge of the system. So is losing that much money through the actions of a single person without adequate oversight better or worse than the collective actions of the banking industry in the US with regard to the whole subprime mess? Probably, it is much easier to blame the actions of the rogue than to actually try to fix a broken system (that makes some people lots of money). Wall street paid out $39 Billion in bonuses while their shareholders lost $80 billion, this on top of taking in billions from outside (which will further dilute the shareholders' stakes).

Stay tuned next week for more stream-of-conscious type weirdness.