The exchange for lies

The chairman of the Bucharest Stock Exchange, Stere Farmache, claims that the CEO of the BSE does not have access to the information in the accounts: "I personally stress that, neither as CEO nor as chairman of the BSE, did I have nor do I currently have access to the trading, settlement and clearing systems of the BSE and/or of the Central Depository."

The former vice-president of the BSE Dan Paul claims the opposite:

"There were numerous moments, both in the Council of the Exchange, as well as in the discussions at the headquarters of the CNVM, when Stere Farmache was asked if he had access to the confidential information, and he explicitly said that he did".

The chairman of the BSE and one of its former vice-presidents are making completely irreconcilable claims, concerning the access to "secret information", which encourages speculation among the uninitiated.

In fact, even we don"t understand this, but for the opposite reason: does this mean that the CEO of the company does not have access to the information of the Monitoring Department of the BSE, which answers to him?!

Then how does he coordinate their activities?

Through guesswork?!

How does he decide when trading in a stock should be suspended?

Is it his decision or that of the Monitoring Department?

And furthermore: supposed the CEO of the Exchange wanted to examine a series of trades, what would the Monitoring Department of the BSE tell him?

"No, we won"t give you the data, you are not allowed to access it!"?

It"s absurd.

I don"t understand the purpose of denying access.

It"s a silly gesture.

I know it myself, that when the BSE was still hosted by the Central Bank, the information provided by its Monitoring Department could be accessed using the computer of the CEO.

Which is perfectly normal!

I don"t get it at all.

The issue was not whether or not the CEO of the BSE has access to the information, but whether the secret information is secured or not.

Whether a system for preventing the leak of confidential information exists or not.

The moment the president of the BSE ends his argumentation on the matter with such a statement that beggars belief, claiming he does not have access to that secret information, its causes us to lose our trust when it comes to his other statements.

That"s funny.

His statement was supposed to give us back our confidence in him.