Mitsubishi Rogue trader

We wouldn't hear about the "rogue trader" if he had made the right bet.
Like for J.K., senior management calls for risk limits manipulations when it turns bad
 
Specterx said:
Funny how these "rogue traders" are never exposed by the firm's diligent and attentive risk managers when they make huge outsized profits, only when they make losses.
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Yep, same with Leeson and the Baring´s. Obviously they knew it, but there was no way of stopping it since it had gotten way beyond too far. Best thing they can do is wait and see how it plays out.
 
Barings had no clue. They thought they were supporting a client trading massive size in arbitrage. Literally nobody knew what they were doing. They believed he (Leeson) and his "client" were arbing SIMEX (now SGX) against OSE.

Leeson used to post here while he was managing some football club in the UK.
 
destriero said:
Barings had no clue. They thought they were supporting a client trading massive size in arbitrage. Literally nobody knew what they were doing. They believed he (Leeson) and his "client" were arbing SIMEX (now SGX) against OSE.

Leeson used to post here while he was managing some football club in the UK.
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I know about the five-8 account and the "client", but before this thing hit the news, there had been talk (by people familiar with SIMEX and trading there as well) about the "client" being phony, and I'm sure Barings had to make sure abut the client being real. This is the stuff I heard from people familiar with the matter, but not saying it's 100% true.. might have used the wrong term "obviously" there, my bad.
Leeson used to post here? Thats interesting.. Anyone know his nick?
 
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