January 31st, 2008
Rogue Trader at Société Générale
A billion here, a billion there, soon we are talking
about a gift card for Cold Stone Creamery ice cream.
The Chocolate Devotion is sensational. High Five!
Société Générale’s Sales May Have Incited Market Plunge
Explanation of Fraud from Société Générale (pdf)
January 31st, 2008 at 11:20 am
…and the trader has become a national popular hero, since the French love to hate the big banks. Apparently he’s being congratulated on only losing $7 billion when the Finance Minister ran a $70 billion deficit. Gotta love the French! Red wine, soft cheese, afternoon naps, a culture of fun nookie… and they can laugh at this. C’est magnifique!
I lived there for 4 years when younger by the way.
January 31st, 2008 at 1:32 pm
Currently the Cold Stone Creamery gift card is more powerful than the US dollar.
January 31st, 2008 at 9:06 pm
Cold Stone rocks, and that guy who “stole” the money was a scape goat. If it was up to me, heads would roll at the bank where he worked.
February 1st, 2008 at 1:59 am
If it was to me, I’d be enjoying my billions somewhere in *french* polynesia
February 1st, 2008 at 6:17 am
Oh, so much I could do with a billion dollars!
February 3rd, 2008 at 4:44 am
Very good rendition what actually happened!
February 3rd, 2008 at 8:12 am
Sounds like Mefisto: we are all thieves but cast our methods in rules which we call law. Working outside these rules makes you a thief of the thieves-in-charge. Hehehehe (devilish laughter)!