PORPHYROGENITUS is praising the BBC for its coverage of the Parmalat scandal, “Europe’s Enron:”

Credit where credit is due since I slam their radio World Service News all the time, they were very open and candid in their climbdown from previous smugness on the subject, very explicitly acknowledging that, yes, it can after all happen there and all the previous assertions that EU countries had fixed things so nothing like what goes on in America could take place in European firms was false. So, kudos to them for being able to admit that.

Indeed.