Hang onto the purse strings

Without wanting in any respect to pour cold water on the excitement of the tricoteuses who are so loudly applauding the heads of the likes of Bell Pottinger and KPMG hitting the basket, it’s worth remembering that while these facilitators were clearly bending rules and should face the full might and majesty of their regulators for doing so, they are mere bit players when it comes to the entirety of the drama.

The real villains are still at large, some extremely large, and are entering the cornered-tiger stage of behaviour.

This is why the week’s rumblings at the Public Investment Corp (PIC) are so ominous.

Clearly the most myopic of observers would be able to see that the long game of looting the state has gone tatas up, and that the only option is to fill the swag bag as fast as possible before hightailing it to a friendly location with a suitable approach to the whole extradition process.

If you want a quick hit, then you could do worse than to follow the money, and the PIC is sitting on an interesting R1.9 trillion of assets.

This has potential on a different scale from the shenanigans at SA Airways and the like. So a broadside apparently aimed at discrediting CEO Dan Matjila, with a view to opening up the hot seat for the thoroughly compromised Brian Molefe, should get the alarm bells ringing.

To its credit, the PIC board has demonstrated its willingness to repel boarders, expressing its full confidence in the ability and integrity of its CEO — but it wouldn’t hurt to keep the water cannons loaded and ready.