Tuesday, October 5, 2010

Kerviel Did It

So, yesterday we hung the Holocaust on Pétain, today we hang the heist of the millennium on Jérôme Kerviel. But let's face it: neither of these guys could have pulled it off alone. Good luck to the state on collecting on that €5 billion fine, though.

1 comment:

Anonymous said...

Coincidentally, a top administrator recently quit his job at Société Générale, saying he knew too much to keep quiet, as his contract required.
(No longer have source, can look for it if you want)

I hope they'll appeal, because it seemed pretty clear that while Kerviel was recklessly playing with funds, his supervisors knew about it. It doesn't seem right he'd be the only one to be punished. Plus, you're so right, the 5 billion, yeah, right.