re: Reuters potential scandal (relevant to their reporting of Olympus)

Started Feb 27, 2012 | Discussions thread
rlh1
Regular MemberPosts: 151
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Re: Nope........
In reply to YouDidntDidYou, Feb 27, 2012

YouDidntDidYou wrote:
...Snip weird conspiracy stuff...

It's one loss covered up for 13 years the loss didn't get bigger...
similar scenarios make the decision:
1. one your wife cheated on once 13 years with one man
2. your wife has been cheating on your for 13 years with lots of different men

...isn't scenario 1 more forgivable than scenario 2?????

May I suggest that your very strange analogy misses the point - whether Olympus covered up one huge investment loss for 13 years or 13 smaller annual investment losses is immaterial (1) - both scenarios and their attempts to deny the problem when Woodford exposed it, are symptomatic of a Board with a major probity problem.

The local authorities have recognised this and arrested the Chairman and 2 senior executives, not something that happens without a great deal of thought in Japan.

(1) As an aside the FT's story of 16 February indicated that Olympus had admitted that it secretly moved more than $1.3bn of investment losses off its accounts over the years, then used acquisitions to cover for the hidden accounts.

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