Reading the stories coming out after the SocGen MISMANAGEMENT … not a rogue trader … absolute reckless mismanagement made it happen … makes me sick!!! Where were/are all the supervising authorities??? SEC? BaFin? Whatever their name is … WHERE THE HELL ARE YOU??? Or are you all stupid underpaid bastards??? Helpless or blind? Or just [...]

After reading a lot of stuff about the case, the story looks even more incredible today. Risk Magazine named SocGen in its JANUARY issue “Equity Derivatives House of the Year”. Farther from reality they could not have been French press is speculating, that Jérôme Kerviel is only used as a public scapegoat to cover up [...]

Move over Nick Leeson … here comes Jérôme Kerviel 4.9bln Euro loss on Futures … obviously a lot of futures. Even if you assume a close to impossible loss of 1.000 points per contract, it must have been 200.000 FDAX or even 500.000 FESX futures … A lot for a “small position trader”. So it [...]