Rogue Traders a Nightmare Scenario for Finance CEOs

How much did French bank Societe Generale know about the major risks that trader Jerome Kerviel was taking? Well, Kerviel told investigators that he believes his bosses were well aware of his risk taking but turned a blind eye as long as he earned money, a judicial official said Tuesday, according to the Associated Press. "I can't believe that my superiors were not aware of the amounts I was committing, it is impossible to generate such profits with small positions," according to excerpts of...Full Story
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