Societe Generale rogue trader fined $7 billion

[TraDaToR]

The fine has been cancelled but he will serve 3 years. He met the pope and is on a march from Rome to Paris...



http://uk.reuters.com/article/2014/03/19/uk-france-kerviel-idUKBREA2I0QR20140319

 

[xelite777]

http://www.cbsnews.com/8301-34227_162-57539428/societe-generale-rogue-trader-fined-$7-billion/

...and Jerome's answer after the verdict was : "Yeah, yeah, whatever, just put it on my tab"

 

[smallStops]

There is actually a French politician who has hinted in calling people to withdraw their money from Societe Generale. And one determined bankrupt guy, Bruno ( former business owner with quiet a few employees for 20 years ), is doing a tour de France ( the momentum is building) in front of each Societe Generale branch.

Bad publicity is never a good thing.
I am actually adding Societe Generale in my list of Shorts.
Timing is always the issue.