The inside story of how 31-year-old trader Jérôme Kerviel nearly destroyed French giant Société Générale, bank CEO Daniel Bouton's dramatic rescue, and the surprising aftermath of the affair.
SG trader Jérôme Kerviel found elaborate ways to mask what he was doing He explained in detail to prosecutors how he created a separate account of fictitious trades that mirrored his real profits and losses, making it appear as though his books were almost always balanced. Kerviel always seemed able to wriggle out of trouble, including by faking e-mails that confirmed fictitious positions
Also see Jerome Kerviel on Wikipedia for a full history of the Societe Generale fiasco.
Tuesday, April 15, 2008
JP Morgan-Morgan Stanley Rescue Societe Generale
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