Rogue trader, Revelations from LeMonde page 1

Quote from wareco:

pantera_rosa1-792371.jpg


Head of the Compliance Dept.?

Brilliant!
:D
 
I think this guy would have seriously let his losses run to hell, because "the market would rebound sooner or later" in order to "make money for his bank" and his "hierarchy would not have said anything" because" it was in their interest to let him make money".

Crazy.
 
It seems there are obviously so many serious problems about internal control and risk management existing in the financial industry according to this case.

Potentially open up another significant front to terrorists!!!
 
Quote from momoNY:

... the size of my bonus. I was asking for 600 000 euros and they were offering me 300 000 euros. ... As for my base salary it has been regularly on the increase to reach 48000 euros gross.

(......)


Before anything, I have in mind making money for my bank. It is my prime motivation. (...) It was about making money for the bank only, and in no case to enrich myself.


LOL
 
Quote from subban:

That link is garbage. It put spyware and my internet web browser opened up like 60 different versions.
The link is fine.

Your computer is garbage and probably already had a ton of spyware on it from all the porn sites you browse while pretending to be a trader.
 
Great article.

It shows just how corrupt this (and many) organizations are when dealing with someone who they perceive as being a "go getter" or "an achiever".

They gave'me enough rope to hang himself and he did, taking them along with him! :D
 
According to this article he claims to have made ?over a billion EU's. He was found out. How could that money turn around and cost the company so much as a drawdown? I'm assuming they had to dump it all at once for compliance reasons and a waterfall occured?

Or, are they claiming that this money was extorted by the trader, and therefore, "a loss"...sounds like they found the money and the question is misappropriation. I am not clear.

:confused:
 
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