SocGen trader loses $4.9bil in vanilla stock futures

[Equalizer]

Quote from Lon Eagle:

Absolute class!

And they choose to liquidate on a US holiday thus forcing markets to tank and the Fed into an emergaency 75bp cut.

That is some achievement.

Pharcking incredible isn't it!
Well at least that mostly explains why the FESX and FDAX were behaving in such a weirdo way these last few days.

Question is, has ShockGen (sic) flattened their positions? Me thinks not yet...

 

[ADX_trader]

Who have taken the $7B away? ETer?

 

[makloda]

Quote from Daal:

watch him live
http://www.elitetrader.com/vb/showthread.php?s=&threadid=114977

 

[ASusilovic]

I hope the guy signed a Non Disclosure Agreement about true happenings...I would ask for a 2 % "golden handshake" bonus....

 

[makloda]

The FED should file a lawsuit against SGen over the 0.75% cut now.

 

[ASusilovic]

London prop desk bonuses should have a good start into NEW YEAR....

 

[Dogfish]

Bloomberg just reported a headline saying his salary and bonus came to less than 100,000 euros a year

 

[TradEStar]

If anyone really belives this story they should be slapped!

 

[bali_survivor]

I agree, a lot of the proverbial brown matter. Perhaps they have dreamt this up as an attempt to restore more "faith" in the market and to hide that they have not gotten a clue what the <explicit> the market is all about.

LOL "we have found the guy who has caused this all" yeah right.

 

[handelaar]

It must have been Harrytrader!!! Good to hear from him again!!