Clementina
God's of Eve
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Posted - 2006.08.13 00:19:00 -
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Edited by: Clementina on 13/08/2006 00:19:30
Okay, my take on all of this.
I wouldn't do any buisness with the Eve Intergalatic Bank, or Eve Intergalatic Bank Investments. If I had money in the EIB, I would withdraw it. I think EIBI shares will still sell for 25 million, but if they won't I would keep the EIB alt's impotent buyback in mind.
Why do I think this. Well, the EIB is a very poorly managed organization, and will probably fail in the near future. Cally, the boss, and also the one with most of the Bank's money hasn't been heard from except to tell us that she is in a hospital that she couldn't really be in. There is no reason to believe that Cally is ever comming back, or that even if she does, that she will resume any banking operations. Her current whereabouts are a lie. Second, while the EIB may or may not be a Ponzi scam (which is Currin Trading's acqusation), the fact that they refuse to honor their contract obligations towards the United Eve Mining Association proves that they are not adverse to taking someone's money and not giving it back. Interestingly enough, because the EIB representative said that he would never, transfer the money, regardless of what happens, proves that the EIB is infact a scam with respect to their insuring of the UEMA.
Also if you attempt to withdraw money the odds of being refered to as 'a spastic on LSD.' are non-zero. Furthermore, the fact that high rankers do not think it wrong at this juncture to attempt to dissolve the EIB and pay creditors pennies on the dollar, and the desire of one to break the UEMA out of ego. proves that this organization cannot be trusted with 0.01 isk.
If the EIB fails it will take the EIBI out with it.
Now, on to the audit.
This audit exists because Currin Trading's accusations are actually somewhat credible regardless of some people continuing to argue otherwise.
This audit hasn't really been for determing weather the EIB is a scam (ie. a Ponzi scheme) but rather for raising people's confidence in the bank. This was a bad move to start with, because if something is below board, confidence in it actually needs to be lowered. An auditor needs to be more adversarial to their clients then the current auditor has been. The thread where she reviled a potantial corp theft was good, but now that she readily believed the excuse that Cally was in the hospital is not so good. The potential of the auditor being on the take is not really to be taken seriously, she has too much rep and forum cred on the line to be bought with isk, The fact that her employer, the Eve Mutual Fund, inc, may wish to not lose money on Cally's bank should it flop for any reason is something that could be taken somewhat seriously, but there dosn't appear to be enough money invested to lose.
What I think is wrong is that the audit was approched from the point of view of saving the EIB from its critics, not discovering what the EIB actually is. This was the beginning flaw, and this is why there won't be much success.
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