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Rogue trader costs French bank $7bn !!!

Discussion in 'General Board' started by scooter, Jan 24, 2008.

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  1. scooter United Kingdom

    scooter Well-Known Member

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    French bank Societe Generale says it has uncovered "massive" fraud by a Paris-based trader which resulted in a loss of 4.9bn euros ($7.1bn; £3.7bn).

    BBC

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  2. Domain Forum

    Acorn Domains Elite Member

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  3. GreyWing

    GreyWing Retired Member

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    They described him as "not one of their star traders" :rolleyes:
     
  4. Jrc

    Jrc Member

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    His job wasn't even the complicated, it was to hedge the risk of some other traders, instead he just did something completly different and bet on the day-to-day price changes of the dax and cac.
     
  5. aZooZa

    aZooZa Well-Known Member Exclusive Member

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    He amassed a huge portfolio of .mobi domains on a futures basis. Ergo death.
     
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