Timmy ElsewhereJanuary 27, 2008 Tim WorstallTimmy ElsewhereAt the ASI. Those losses at Soc Gen: they were losses at Soc Gen, but not losses at the system level. A transfer of wealth, not a destruction of it. (My thanks to Chris for clarifying the point when I started asking vague questions.) previousQuitenextWill Hutton Again Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment.