Why Pick on BNP Paribas?

A couple of weeks ago, I was looking at the latest projection by BNP Paribas for when China will have a larger economy than the United States.

Thus, European critics of the fine imposed on BNP Paribas are right to emphasize its disproportionate nature. What they overlook is that this was precisely the point.

Paribas Asset Management Inc.

Fiduciary Trust, London Paribas Asset Management, Paris

In August 2007, the decision by BNP Paribas to close two of its hedge funds exposed to the subprime sector precipitated a liquidity crisis for all European banks during that summer. This year, BNP s great rival, Société Générale, has been in the spotlight.

Hefty fines imposed by US regulators for breaching the rules notably, the recent 8.9 billion settlement by BNP Paribas are already causing European banks to re think their compliance costs and the profitability of operating in the US. Meanwhile, American courts have forced Argentina into another national default.

BNP returned to power after elections on 1 October 2001.

Société Lorraine des produits métallurgiques v. Banque Paribas Belgique S.A. and Société BVBA Finecco

So far, the only serious candidates to emerge for a Société Générale takeover are two French banks, Credit Agricole and BNP Paribas. But should a credible foreign offer for Société Générale appear in the coming weeks and it well might another disruptive conflict between the Bank of France and the government may be in the offing.

NEW HAVEN The sharp drop in the world s stock markets on August 9, after BNP Paribas announced that it would freeze three of its funds, is just one more example of the markets recent downward instability or asymmetry. That is, the markets have been more vulnerable to sudden large drops than they have been to sudden large increases.

BNP supporters in fact initiated the criminal case against him in 1995.

BNP did lobby European authorities to make a too big to jail plea to the US authorities. The European authorities made the plea, claiming that the large fine would cripple BNP it did not work.

Under the first BNP Government of 1991 1996, increasing efforts were made to protect human rights.

4.14 It should also be observed that, during the first interview, the complainant made no mention of ever having been subjected to deprivations of liberty by supporters of BNP, nor of having been subjected to torture by the police or BNP.

France has a veto within the boards of directors of the Franc Zone s two central banks, while two French commercial banks, BNP Paribas and Société Générale, exercise a quasi monopoly on lending programs, mainly centered on short term trade financing and the needs of governments, public and private companies, and the elite. All other local banks have adopted the same approach, severely restricting access to financial services for households and entrepreneurs.

There is no indication that he has anything to fear from BNP, which is currently in power.

That BNP and its coalition partners won the elections in October 2001 did not allay his fear.

(b) After the end of the biennium, the contract with Paribas Asset Management Paris was terminated. A new manager has not yet been appointed.

2.3 In 1995, while on holidays in Bangladesh, the complainant was kidnapped by followers of BNP and held for four days.

The Board also stated that the Jatiya Party was in alliance with the Bangladesh National Party (BNP), which was currently in Government.

Four or five years ago he had been accused of murder by members of BNP and the Awami League and arrested by the police.

However, in October 2001, the Awami League was replaced by a Government coalition consisting of BNP and three smaller parties, among them a faction of the Jatiya Party.

In 1995, when the Bangladesh Nationalist Party (BNP) was in power, he was arrested after being falsely accused of anti State activities and kept in custody for five days.

In 1995, the complainant received kidnapping and death threats by followers of the Bangladesh Nationalist Party (BNP), and thereafter from 1999 to 2002 by followers of the Awami League.

Furthermore, on numerous occasions he had been kidnapped and subjected to beatings with sticks and fists by supporters of BNP, which had resulted in serious damage to his elbow.

She denied that the Ershad faction of the Jatiya Party was allied to BNP, and pointed out that, at the time of the appeal, the leader of her faction, Mr. Ershad, had left Bangladesh.

He claims that because of the party members' support for their imprisoned leaders, the party members themselves have been stigmatized and are personally at risk of persecution by the police even under the BNP regime.

BNP did not seem to do any of this with gusto its investigation did not match the effort made, for example, by GM. It did not prevent subsequent violations by implementing effective controls to detect problems.

Furthermore, it does not appear from the certificates that the complainant, during his examination, made any reference to physical abuse at the hands of BNP supporters, but mentioned simply having been tortured twice by the police.

Because of his involvement with the Party he was kidnapped about 20 times by members of the governing Bangladesh Nationalist Party (BNP) who kept him for periods ranging from a few hours to one week and beat him.

Referring to a number of inconsistencies and peculiarities in his statements, the Board concluded that the complainant had not convinced it that it was probable that he was of interest to BNP, other political parties, or the authorities in Bangladesh.

AFRICAN GROUP GROUP OF EXPERTS

According to a recent report of Amnesty International torture has for many years been the most widespread human rights violation in Bangladesh opposition politicians are among those who are subjected to torture BNP blocks judicial processes against torture and impunity for perpetrators is general.

Then there's another group, bigger group.

NGO Working Group on Girls, New York and Geneva ECE Working Group on Women Workin Group on Environment Working Group on Health Human Rights Working Group on Refugees Working Group on Traditional Practices Working Group on Nutrition all held Geneva.

Group of 77 (core group on trade)

Group of 77 (core group on globalization)

Group of 77 (working group on development)

Group of 77 (core group on debt)

Group of 77 (core group on debt)

Group of 77 (core group on desertification)

2.8 In February 2001, the complainant left Bangladesh, not because of an isolated incident but because of everything that had happened to him since 1995 and because he feared being killed either by followers of the Awami League or BNP, and of being subjected to torture again.

Group of 77 (core group on climate changes)

Group of 77 (core group on climate change)