Jerome Kerviel, the rogue trader at France's Societe Generale who manipulated the company's computer system to enter large unauthorized bets under someone else's name that led to $7.7 billion in losses -- the biggest financial fraud in history -- is claiming he's being made into a scapegoat for the company's...
By Sudip Kar-Gupta PARIS (Reuters) - Jerome Kerviel, the banker blamed for the world's worst rogue trading scandal, has changed his legal team to focus on a more "aggressive" defense strategy, a spokeswoman for Kerviel said on Saturday. "The new team's strategy is...
By Sudip Kar-Gupta PARIS (Reuters UK) - Jerome Kerviel, the banker blamed for the world's worst rogue trading scandal, has changed his legal team to focus on a more "aggressive" defence strategy, a spokeswoman for Kerviel said on Saturday. "The new team's strategy is to go...
PARIS (Reuters) - France's Banking Commission on Friday fined Societe Generale 4 million euros ($6.3 million) for serious breaches in internal controls revealed by the French bank's 4.9 billion euro rogue trading loss. In a decision e-mailed to Reuters, the Banking Commission ...
PARIS (Reuters UK) - France's Banking Commission on Friday fined Societe Generale SOGN 4 million euros (3.2 million pounds) for serious breaches in internal controls revealed by the French bank's 4.9 billion euro rogue trading loss. In a decision e-mailed to Reuters, the Banking Commission ...
More details have emerged in the stunning $7.2 billion trading loss suffered by French bank Societe Generale, incurred at the hands of a low-level trader run amok. As the Wall Street Journal reports, trader Jerome Kerviel had been making surreptitious and high risk moves for at least a year before...
Michael Shedlock submits: I have been staring in amusement at Bernanke's latest proclamation: Danger of downturn appears to have faded. Despite a recent spike in the nation's unemployment rate, the danger that the economy has fallen into a "substantial downturn" appears to have waned, Federal Reserve Chairman Ben Bernanke...
