As SEC and FSA authorities, The Media and The Fraud Squad investigate The City’s and Wall Street’s bad habits, and frame charges of False Accounting, Back-Duty-Tax and Fraudulent Conspiracy under existing laws, prior to recovering 30 years of “rewards” gouged out and siphoned off under False Pretences – the culprits will claim “The dog ate my homework” as they try to bury the records. Banks and listed companies, of course, have all their data backed up in nuclear hardened bunkers – and have back-ups to the back-ups. Yesterday, my telephone banking service identified a transaction in 1987, in less than a minute. The computer records are intact and on-line.
The authorities should today anticipate the pressures on main boards to Pervert The Course of Justice – and today make copies of the computer records.
Yesterday, a senior CFO confidently predicted “They will never be able trace the transactions”. But he is old, has difficulty re-setting his Casio Digital Watch and for 20 years has relied on his PA to work his PC. To delete or alter data, he would, if he was not the very soul of probity that he is, need to instruct IT managers with access to all the back-ups. Even if all the internal records were eaten by the dog, every transaction is mirrored externally, in the systems of suppliers, customers, mandatory-filings, audit-files and so on. They could quite easily be reconstructed by whizzy computer literate nerds and anoraks. Ask the Shade of Kenneth Lay and the living Bernard Madoff.
1 July 2012.
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