Have to laugh, they have all these PhD's etc etc in risk management and this guy, super genius screws them for 5 billion. And wait for it. He makes nothing from it
Ah so this is all a conspiracy and a coverup?!!? What about Neeson and Hunter? They were a coverup too? LMAO
This is largely the bank's false beside the trader's false. There is obviously a flaw in the bank's management process to allow a simple trader to lose in theory a very bigger stake like this one. While the Brokers, they have an efficient process to limit their lost resulting from the margin account of their clients.
do i recall correctly that LTCM was "just" 4bn? my goodness, we live in a world where a single trader in a second tier trading position can shake the world wide economy. and you probably heard the story that it was two prop traders that kept goldman from going the same route as all the other big banks. if you think that terrorism is the biggest threat you might need to reconsider.