Kweku Adoboli, 31 year old ETF trader held over $2bn rogue trade

[stock777]

Clearly these banks are being run by overeducated imbeciles.

Further confirms that 99% of them are grossly overpaid. What a racket.

Nice that they hired the guy, but to not have him on 24/7 watch was the act of a 'tard.

 

[SteveNYC]

Quote from AK100:

Big business likes to have a few token black people working for them. Gets the PC Nazis somewhat off their backs.

At a price tag of mere 2 billion dollars. Not too shabby.

 

[atticus]

Quote from JuniorCTA:

Making fun of the guy/making racist comments does not really help the situation.. nor answer underlying questions about position limits, internal controls that should have been conducted by UBS.


ET losers need a laugh too; they cant be the only ones getting made fun of

It helps immensely.

 

[SteveNYC]

Quote from JuniorCTA:

Making fun of the guy/making racist comments does not really help the situation.. nor answer underlying questions about position limits, internal controls that should have been conducted by UBS.

Tru dat.. tru dat..

Look at the red necks and white trash in America...

They are worse than some blacks and other minorities...

 

[stock777]

if I was a shareholder, Id demand all the execs be fired for gross incompetence.

 

[Grandluxe]

Quote from JuniorCTA:

Making fun of the guy/making racist comments does not really help the situation.. nor answer underlying questions about position limits, internal controls that should have been conducted by UBS.


ET losers need a laugh too; they cant be the only ones getting made fun of

What to do... Blacks now have control of the presidency of the United states, have top trading jobs in the city of London, opportunity to blow 2 billion buckeroos...can't blame poor whitey sitting at home in his rat infested council flat for getting a bit jealous, its just human nature.

 

[atticus]

Kweku was a director on a delta1 ETF desk. These guys have no discretion, so it looks pretty open -> shut case. Obviously is speaks more poorly of UBS' internal controls. HTF do you let a guy spreading ETF against index hide these positions?

I know an MBS director at UBS and she's terrified that they're going to shutter a lot of desks because of this news.

 

[Martinghoul]

Quote from atticus:
Kweku was a director on the delta1 ETF desk. These guys have no discretion, so it looks pretty open -> shut case. Obviously is speaks more poorly of UBS' internal controls. HTF do you let a guy spreading ETF against index hide these positions?

Firstly, innocent until proven guilty. But if it's true, it's easy to hide stuff, if you come from middle office, which both he and Kerviel did.

 

[atticus]

Quote from Martinghoul:

Firstly, innocent until proven guilty. But if it's true, it's easy to hide stuff, if you come from middle office, which both he and Kerviel did.

They're both lucky they're not subject to Napoleonic-laws.

 

[peilthetraveler]

Quote from Grandluxe:

What to do... Blacks now have control of the presidency of the United states, have top trading jobs in the city of London, opportunity to blow 2 billion buckeroos...can't blame poor whitey sitting at home in his rat infested council flat for getting a bit jealous, its just human nature.

Nick Leeson served 3.5 years(of a 6.5 year sentence) for his rogue trades....lets see how much time a black man gets for doing the same crime.