Dexia in 2008 Operated as ‘Hedge Fund,’ Chairman Says
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Dexia SA Chairman Jean-Luc Dehaene said the bank, bailed out in 2008, functioned as a hedge fund at the time of its first rescue.
Following a 2008 analysis of the company’s operations, Chief Executive Officer Pierre Mariani told the chairman that “this isn’t a bank, it is a hedge fund,” Dehaene said today on a conference call from Brussels.