Buying foreign firms outright runs foul of political sensitivities.
Madoff was just outright running a $17bn Ponzi scheme: According to reports, some of those who put their faith in Mr Madoff suspected that he was engaged in wrongdoing, but not the sort that would endanger their money.
Since neither crossed the 50% threshold to win outright, a run off will be held on December 28th.So Ghanaians are on tenterhooks.
Attempts to cut it outright would run counter to powerful forces, as politicians look to schools to solve myriad social ills from obesity to teenage pregnancy to low turnout in elections and to pick up the slack left by poor parenting.
In other words, the downside is mitigated somewhat, failing an outright home run.
Given the chaos that would follow an outright failure bank runs, frozen payment systems and so on bail-outs have lon bail-outs least-bad option for governments.
By allowing the firm to plead guilty — rather than the man who created it, owns it outright, and runs it with an iron fist — today's agreement also perpetuates the myth, visible in other recent Wall Street cases, that abstract corporate entities rather than flesh-and-blood humans are responsible for financial wrongdoing.
It notes that the old model of Leviathan-as-entrepreneur, in which the state owned companies outright and ran them by ministerial diktat, was largely swept aside by the privatisation wave of the 1980s and 1990s, when governments realised that they could make money out of their companies rather than constantly bailing them out.
By allowing the firm to plead guilty rather than the man who created it, owns it outright, and runs it with an iron fist today's agreement also perpetuates the myth, visible in other recent Wall Street cases, that abstract corporate entities rather than flesh-and-blood humans are responsible for financial wrongdoing.
