SocGen trader loses $4.9bil in vanilla stock futures

Discussion in 'Trading' started by Dogfish, Jan 24, 2008.

  1. Surfeur

    Surfeur

    lol really ? :D
     
    #31     Jan 24, 2008
  2. Looks like a "shifty" bloke to me!
    :D
     
    #32     Jan 24, 2008
  3. We surrender!
    :p
     
    #33     Jan 24, 2008
  4. i think he'll do fine in jail. the inmates will be so scared of him. look at that face, man....


    really... he's even pissed in the photo... i wouldn't trust this guy with my money. :)
     
    #34     Jan 24, 2008
  5. I have the slight suspicion he's just a fall guy. I find very hard to swallow this story about someone going long with nothing to gain from it.
     
    #35     Jan 24, 2008
  6. I agree that this story is fkd up any way you look at it.
     
    #36     Jan 24, 2008
  7. On these news Bernanke should just hike 0.75% today. "Sorry guys, the French fooled us."
     
    #37     Jan 24, 2008
  8. gwb-trading

    gwb-trading

    Where is the Risk Control?

    The major banks and brokerages constantly harps on how they have improved risk control over time. Once again this appears to be a fantasy! :mad:
     
    #38     Jan 24, 2008
  9. Agreed.
    All this on a day when they also announce a $3 Billion dollar write-down on subprime.

    Hmmmmmm....
     
    #39     Jan 24, 2008
  10. Yes, that's him - unless my friend is pulling my leg. My friend works as a Quantitative Portfolio Manager at another French Bank and he sent me that pic (it's part 1 of an e-business card) saying "that's the dude who burned 5 billion".

    How did my friend have his card? He did a futures trade just last week with the dude who lost 5 billion. I guess my friend got the upper hand on that one!!! :D
     
    #40     Jan 24, 2008