mercredi 28 mai 2008

L'affaire Kerviel

Yesterday was the annual general meeting of the shareholders of my bank, Société Générale. It was held at La Défense, the business hub to the West of Paris. Outside, the storm clouds gathered In the basement of the Grande Arche (the architectural signature of La Défense by Otto von Spreckelsen), Société Générale's management faced shareholders for the first time since "l'affaire Kerviel." Lots of them turned up (about 1 600 according to Le Monde), and everyone was thinking about the 4.9 billion euro fraud.

It looks like SG did its best to contain their anger and maintain control over the situation. Its executives underwent special training sessions with communications professionals. The press was kept from intermingling with angry shareholders. So the shareholders expressed their anger and their frustration before passing every single resolution submitted to their vote.

Business as usual, quoi?