Three Women 1908 by Pablo Picasso. oil on canvas. This is thought to be one of Picasso’s most important works. he certainly put in the preparation time, making seventy sketches and rough drafts, before starting the final large canvas. It is his very interpretative version of the Three Graces. He manages to accomplish two opposing visual impressions at once – an illusion of movement combined with a set angular structure. This is Raphael’s version for comparison.
Few of these women met happy ends: as one mistress put it, ‘Picasso was a sun all on his own. He lit up, burned, consumed and reduced to ashes anyone who approached him.’ Fernande was impoverished for most of her life, while her former lover amassed inordinate wealth. Olga and Dora both suffered mental-health problems. Marie-Thérèse and Picasso’s second wife, Jacqueline Roque, both committed suicide.
Yet three women, all of whom were intimately involved with the artist during the 1950s, survived the experience of flying close to the sun that was Picasso.
But we don’t need regulation, because left to their own devices, business will always act ethically, Report Reveals JP Morgan as a Lying, Scheming Rogue Trader
Management hid the existence and role of the unit within the JP Morgan Chief Investment office that entered into the “whale” trades, the Synthetic Credit Portfolio, from its inception, even as its exposures ballooned, from the OCC
The bank made repeated, knowing misrepresentations about the size of the losses, the severity of the control failures, and the degree of management knowledge to regulators and investors
The contempt for regulators and for the need for timely and adequate disclosure is symptomatic of an out of control environment. Between the beginning of the year and end of April 2012, the SPG breached risk limits 330 times, sometimes even violating bank-wide limits. Yet staff and management regarded them as an inconvenience rather than treating them as shrieking alarms that warranted swift action
JP Morgan managers and risk control officers were aware of and complicit in the mismarking of positions (this is a very big deal in a financial institution)