I've generally paid no attention to what happens in France, but this was a ballsy move on their part. The police are investigating Christine Lagarde's, previously France's finance minister and who now serves as head of the IMF (International Monetary Fund).
The reason I mention this here in my blog is because not long ago I gave Lagarde my PR blunder of the month award when she commented that despite the Greek people suffering massive austerity they should pay more in taxes, while at the same time, in her role as head of the IMF, she herself pays no taxes on the money she earns (one of the perks of the job working for an 'international' organization).
The entire finance industry - whether it's those working in government or in the private sector - continues to be a PR clusterfuck of immense proportions. It seems as though anyone who sits at the top of that industry - and Lagarde is one of the top 10 players in the finance world in her role at the IMF - has a shady reputation at best.
I think the reason they can't get their house in order, aside from an endless string of bad news that often includes illegal activity, is that over the past 100 years the finance industry has always operated in the shadows. The generally public has never really cared about who these people are or what they do.
So now, when the industry finds itself on the front page on a regular basis (not of the business section, but of the paper itself), they don't know how to handle themselves. They aren't use to all the attention and they really aren't equipped to position themselves appropriately.
We'll see what happens with Lagarde as time goes on, but the past year has really left her mud on her face.
The reason I mention this here in my blog is because not long ago I gave Lagarde my PR blunder of the month award when she commented that despite the Greek people suffering massive austerity they should pay more in taxes, while at the same time, in her role as head of the IMF, she herself pays no taxes on the money she earns (one of the perks of the job working for an 'international' organization).
The entire finance industry - whether it's those working in government or in the private sector - continues to be a PR clusterfuck of immense proportions. It seems as though anyone who sits at the top of that industry - and Lagarde is one of the top 10 players in the finance world in her role at the IMF - has a shady reputation at best.
I think the reason they can't get their house in order, aside from an endless string of bad news that often includes illegal activity, is that over the past 100 years the finance industry has always operated in the shadows. The generally public has never really cared about who these people are or what they do.
So now, when the industry finds itself on the front page on a regular basis (not of the business section, but of the paper itself), they don't know how to handle themselves. They aren't use to all the attention and they really aren't equipped to position themselves appropriately.
We'll see what happens with Lagarde as time goes on, but the past year has really left her mud on her face.
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