Word: rale
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Dates: during 2000-2009
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...January 23rd, nobody had heard of Jérôme Kerviel. He was just another junior trader at France’s second largest bank, Société Générale. A day later, his name headlined nearly every major financial daily across the globe. Although his desk was limited to about $180 million in positions, Kerviel had forged passwords, faked control e-mails, and fabricated hedges in order to go well beyond the limit. He had learned all the necessary control tricks to pull off this feat during his time at the bank?...
...level trader at the French bank, Société Générale, was arrested the other day for allegedly orchestrating a $7 billion fraud. Do you see things in these kinds of stories that are painfully familiar...
...comments Thursday on its contemplation of Société Générale, according to Mistral, increases the likelihood of a more complex acquisition scheme: the break up of Société Générale's retail network, which BNP covets, from investment banking activities, which interest Crédit Agricole. By tipping its hand, Mistral notes, BNP may be signaling to rivals now mobilizing in the wake of the debacle that it's about to launch a bid it had contemplated even before the Kerviel affair. Meanwhile, comments by French officials indicating the government...
...single-handedly broke the bank at Barings in 1995. And you know what? This kid Jérôme Kerviel, the 31-year-old who managed to lose $7.2 billion (that's with a B) at Paris investment bank Société Générale in just a few weeks, he's ... he's ... so much like Leeson that it's scary...
...Kerviel, 31, a futures trader from a second-tier business school, had worked at Société Générale since...