Crédit Lyonnais

Crédit Lyonnais is a French bank. It was, at one point, the largest French bank, and it was state-owned. It has been the subject of various financial scandals, which almost led to its bankruptcy in 1993.

History

Founded in 1863 in Lyon by Henri Germain, Crédit Lyonnais was nationalised in 1945.

During the 1990s, the bank was the subject of numerous financial scandals, contributing to a huge debt of around 150 billion French francs (nearly 23 billion Euros). This was caused by directors exaggerating investments and by problems with the bank's subsidiary companies. The bank's motto of the time was "Le pouvoir de dire oui", or "the ability to say 'yes'", and saying 'yes' was indeed something which the bank did rather too often.

Crédit Lyonnais notably owned the MGM movie studio for a few years, during which time Giancarlo Parretti was the chief of the studio.

Much of Crédit Lyonnais' Paris headquarters was destroyed in a major fire on May 5, 1996. The fire began in the main trading room of the bank and was one of the worst fires to damage a Paris building in 25 years. The fire burned for over 12 hours and two-thirds of the building was destroyed, along with crucial bank archives and computer data.

The bank's finances were saved from disaster by moving its debts and liabilities into a new state-owned company, Consortium de Réalisation (CDR). The CDR notably agreed to pay £525 million US to California's Department of Insurance in order head off a lawsuit concerning the Executive Life insurance scandal. The CDR is a highly controversial creation, as many do not believe that the French government should have bailed out the bank.

In 2001, Denis Robert and Ernest Backes book, Revelation, showed that Crédit Lyonnais was one of the many banks to detain unpublished accounts in Clearstream, a Luxembourg-based transaction clearing company, which has been accused by the authors of being a huge international money-laundering machine.

In 2003, the bank was bought by Crédit Agricole and its investment banking business was spun off to an existing subsidiary of Crédit Agricole, Crédit Agricole Indosuez, which was renamed Calyon. Crédit Lyonnais continues to exist as a nationwide retail consumer bank.

In 2005, Crédit Lyonnais became LCL (for Le Crédit Lyonnais), probably in order to remove obvious references to its troubled recent history. At the same time, the CDR had to pay back 135 millions Euros to Bernard Tapie (or rather to his creditors), the controversial former billionaire, after a scandal concerning the sale of Adidas.

In the United States, Crédit Lyonnais is now known as Calyon, whereas in France, Crédit Agricole and Crédit Lyonnais maintain their separate entitites somewhat.

Calyon Investment Bank maintains five offices in the U.S. they are New York, Chicago, Dallas, Los Angeles, and Houston. Calyon Houston specializes in providing key financing for the Energy sector.

The bank may be most known for its sponsorip of the Tour de France as many will remember the corporate brand on the sides of the maillot jaune (yellow jersey) that Lance Armstrong and many other phenomenal cyclists have earned over the years.


This page about credit lyonnais includes information from a Wikipedia article.
Additional articles about credit lyonnais
News stories about credit lyonnais
External links for credit lyonnais
Videos for credit lyonnais
Wikis about credit lyonnais
Discussion Groups about credit lyonnais
Blogs about credit lyonnais
Images of credit lyonnais

The bank may be most known for its sponsorip of the Tour de France as many will remember the corporate brand on the sides of the maillot jaune (yellow jersey) that Lance Armstrong and many other phenomenal cyclists have earned over the years. These items are not allowed to be sold on Trade Me, and if done so the auction will be withdrawn by a site administrator. Calyon Houston specializes in providing key financing for the Energy sector. . they are New York, Chicago, Dallas, Los Angeles, and Houston. Fraud is usually reported by members via 'Community Watch' or Scambusters [4] who monitor online fraud in New Zealand. Calyon Investment Bank maintains five offices in the U.S. PayPal is not required as Australian buyers can pay by cheque which many New Zealand banks will negotiate free of charge.

In the United States, Crédit Lyonnais is now known as Calyon, whereas in France, Crédit Agricole and Crédit Lyonnais maintain their separate entitites somewhat. Most trades are quickly settled by bank transfer or bank deposit, and Australian sellers are required to have a New Zealand bank account. At the same time, the CDR had to pay back 135 millions Euros to Bernard Tapie (or rather to his creditors), the controversial former billionaire, after a scandal concerning the sale of Adidas. Around 20,000 international members were affected, but payment can now be settled through New Zealand's banking system. In 2005, Crédit Lyonnais became LCL (for Le Crédit Lyonnais), probably in order to remove obvious references to its troubled recent history. To minimize payment problems and reduce fraud, Trade Me restricted membership to New Zealand and Australian residents in 2005. Crédit Lyonnais continues to exist as a nationwide retail consumer bank. Members in New Zealand can become 'Address Verified' by confirming their street address, and those who are not may be blocked from bidding.

In 2003, the bank was bought by Crédit Agricole and its investment banking business was spun off to an existing subsidiary of Crédit Agricole, Crédit Agricole Indosuez, which was renamed Calyon. Some of these features include 'Buy Now', 'Auto bidding' and the Safe Trader escrow service. In 2001, Denis Robert and Ernest Backes book, Revelation, showed that Crédit Lyonnais was one of the many banks to detain unpublished accounts in Clearstream, a Luxembourg-based transaction clearing company, which has been accused by the authors of being a huge international money-laundering machine. Trade Me shares many features with other online auction websites, such as the American auction giant Ebay. The CDR is a highly controversial creation, as many do not believe that the French government should have bailed out the bank. As members cannot hide their Trade Me identity, controversal postings or flame wars have occasionally resulted in auction interference by aggrieved members. The CDR notably agreed to pay £525 million US to California's Department of Insurance in order head off a lawsuit concerning the Executive Life insurance scandal. People also ask questions and seek advice on the messageboard, making it one of the most active online communities in New Zealand.

The bank's finances were saved from disaster by moving its debts and liabilities into a new state-owned company, Consortium de Réalisation (CDR). Trade Me also has a general messageboard, where Kiwis from all walks of life and ages participate in discussions on a variety of casual topics. The fire burned for over 12 hours and two-thirds of the building was destroyed, along with crucial bank archives and computer data. These statistics make Trade Me seem very popular since New Zealand only has a population of around 4,100,000 people. The fire began in the main trading room of the bank and was one of the worst fires to damage a Paris building in 25 years. Trade Me currently has 1,140,000 active members who can only have one Trade Me account. Much of Crédit Lyonnais' Paris headquarters was destroyed in a major fire on May 5, 1996. During peak hours, Trade Me has approximately 50,000 people online, and 565,000 auctions running.

Crédit Lyonnais notably owned the MGM movie studio for a few years, during which time Giancarlo Parretti was the chief of the studio. It is New Zealand's largest company of its type, and became the most popular website in the country in 2005. The bank's motto of the time was "Le pouvoir de dire oui", or "the ability to say 'yes'", and saying 'yes' was indeed something which the bank did rather too often. Other websites owned by Trade Me are FindSomeone [1], OldFriends [2] and SafeTrader [3]. This was caused by directors exaggerating investments and by problems with the bank's subsidiary companies. Trade Me is an online auction web site based in Wellington, New Zealand, established in 1999 by Sam Morgan. During the 1990s, the bank was the subject of numerous financial scandals, contributing to a huge debt of around 150 billion French francs (nearly 23 billion Euros). Wholesale lists.

Founded in 1863 in Lyon by Henri Germain, Crédit Lyonnais was nationalised in 1945. Veterinary Medicines. It has been the subject of various financial scandals, which almost led to its bankruptcy in 1993. VCDs. It was, at one point, the largest French bank, and it was state-owned. Uniforms for NZ emergency services. Crédit Lyonnais is a French bank. Tobacco (tobacco-related items and collectibles are allowed).

Software that interfaces with the Trade Me website. Services. Recreational drugs. Offensive weapons.

Nazi memorabilia. Menacing dogs. Medicine and supplements. Lottery and raffle tickets.

Human bodies or body parts. Fireworks. eBooks and downloadable media. Copyrighted items and content (including replicas).

Backup or copied software, CDRs or DVDRs. Alcohol (alcohol related collectibles are allowed). [5]. Currently it has the highest number of questions asked and answered.

News of the auction reached some New Zealand papers which ran a story on it. The auction was withdrawn shortly before its close time by the seller. In late 2005, a time machine was offered for sale through auction or swap for "anti gravity machine", with the highest bid reaching $300,000,000,001,999. The auction was one of the most viewed auctions in Trade Me's history, and the seller received approximately 200 questions about the paperclip, all of which he answered in a humorous fashion.

In 2005, a red paperclip allegedly sold for $749.00. 1 November 2005 - New icon for brand new listings . 11 November 2005 - Buy now price shown on category pages (rather than having to go into the auction to see the buy now) . 11 November 2005 - Local tag displayed in auctions (there is now an icon in auctions saying if the item up for auction is located in the same province of New Zealand) .

When viewing an enlarged photo you can now see thumbnails for all images without having to return to the listing itself. 21 November 2005 - Improved photo page to make it easier to browse photos. 28 November 2005 - Email to watchers when Buy Now added (watchers will receive an e-mail if the seller of an item has added a buy now price to the listing). 28 November 2005 - Date and time on answers and comments (questions and answers on auctions now have the time they were asked and answered).