As much as I may have admired la belle Ségolène (Royal, that is), and preferred to see her picture in the news for the next few years, maybe it’s a really good thing that the far less photogenic Nicolas Sarkozy won the French election last year. Get a load of this from the WSJ today, regarding the guy who lost $7.2 billion for that French bank:
PARIS — Société Générale says wayward trader Jérôme Kerviel lost the bank $7.2 billion. But
that was last week. He’s now on his way to cult celebrity — and he still hasn’t lost his job.
Société Générale has stopped paying Mr. Kerviel and told him not to come to the office, but it hasn’t managed to formally fire him. French law stipulates that to do that, the bank must first call him in for a sit-down meeting and explain its dissatisfaction. He has the right to bring along a trade-union official, a lawyer or anyone else he’d like…
They can’t fire him! So, as much as I hate to see Ségolène rebuffed, maybe, just maybe, the Socialists aren’t exactly what’s needed in France at this point in its history.