Respect the visionary
There are times in history where some individuals are ahead of their time. Rock and Roll for example was seen by some as being ahead of it’s time.
But it didn’t stop Little Richard from singing Tutti Fruiti and years later, he got the deserved recognition as a visionary.
Which brings me to Nick Leeson. Yes, that Nick Leeson. The rogue trader who brought down Barings Bank in the 90’s.
See, according to Leeson himself, he cost Barings an estimated 1.3 billion dollars in liabilities. The problem was that Barings didn’t have 1.3 billion dollars and just like the Titanic, it sunk and it sunk majestically.
But that was then and this is now.
Banks today have more than 1.3 billion dollars and if you’re an American bank and don’t have that kind of cash laying around, you call Ben Bernanke. He will come with his helicopter and throw cash down to your front door.
Leeson’s exploits of the 90’s pale in comparison of the corrupt financial system seen in America and in the UK these days. They pale in comparison just in the same way Little Richard pales in comparison to Ozzy Osbourne. Nowhere near as brash but still worthy of respect for being a visionary.
What Leeson did was most absolutely despicable. However, he did pave the way for today’s crooks in the financial centers of the world to ply their trade not only unencumbered but also subsidized.
Nick Leeson, you where a crook but you where a visionary and for that I salute you.
