There Aint no Sanity Clause: "To lose 8 billion dollars, Mr Kerviel, may be regarded as a misfortune; to potentially lose 83 billion looks like carelessness."

Monday, January 28, 2008

"To lose 8 billion dollars, Mr Kerviel, may be regarded as a misfortune; to potentially lose 83 billion looks like carelessness."

"On Saturday, after three days in hiding, Mr Kerviel — who is accused of single-handedly losing about £3.6 billion ($A8.2 billion) of the Societe Generale bank's money through illicit trading — was brought in under armed guard for questioning at the Paris headquarters of France's finance police."

Suppurated at birth?

"French bank Societe Generale has admitted that a gap in control systems allowed a junior trader to take a $US73 billion ($A83 billion) losing bet on European share prices, but defended its handling of the world's biggest trading scandal."

Labels: Community service announcements.