Banking's biggest disaster

Article Abstract:

The Credit Lyonnais scandal is the biggest disaster the banking industry has ever experienced because of the magnitude and the extent of political involvement accompanying it. The scandal is not only a case of mismanagement and fraud but is also a case of extensive government interference that resulted in the magnification of the problem. The other problems of the bank were brought about by the lack of transparency, political interference and fraud.

Cases, Bank fraud

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First and worst: South Korean banks

Article Abstract:

Although South Korea's response to its banking crisis has been very slow, the country is finally taking action to provide support to Korea First Bank, the bank in the greatest trouble. It is likely that South Korea's central bank will loan Korea First Bank up to 3 trillion won at an annual interest rate of 3%.

South Korea, Economic policy, Bank failures, Korea First Bank

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Credit crunch: another bailout of Credit Lyonnais will undermine Europe's fight against market-crippling state aids

Article Abstract:

Europe cannot afford to continue pouring cash infusions into French state-owned bank Credit Lyonnais. The bank is troubled and will probably need further assistance. Divesture of US and German businesses would be a good idea, and full privatization would be better.

Editorial

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