Who is responsible ?

Dear readers,

Over the last past weeks, we have seen so many changes in our financial world, and it will be soon time for post-analysis (even if nobody can tell today that this situation is over)

I just wanted to share with you some thoughts and ideas  about the banks and insurance that feld into bankruptcy :
– what was the Information System running by those companies ?
– how was organised their account department, risk management department, audit company and any other important service company (such as IT integrator, accounting services …)
– when was the last alert raised for each company about the impact ?
– Does some of those companies share board members ?

I’m not certain I will be abble to collect all those informations, even if I’m certain it would provide us with valuable information about the accuracy and  honesty of some of the leading “partners” working with those banks and insurance.

Collateral consequences we may see in the next coming weeks in the IT area :
– some integration projects will be stop (or de facto stopped if the bank has collapsed), leading to lack of revenus for leading ERP (Oracle ? SAP ?)
– thousand of IT people coming back at their local office, because their project have been stopped

What may happen in the Open Source market, where new emerging companies are building both brand and product using private funds from Venture Capitalists ? We may imagine that Venture Capitalist will face problems to raise new funds from their legacy partners, even if there may be more money coming from the pure private market. This should lead some of those companies – in the Open Source BI area for exemple – to be bought in ther next coming months. Officially, we may see “big deal” … but I’m not certain we will see something like Redhat/JBoss or Sun/MySQL deals … no more cash, only paper exchange …

Don’t forget a private company has to be profitable …

Have Fun  !

Patrick

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