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Jan. 25th, 2008 07:46 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
rhythmaningThe SocGen trading scandal amuses me greatly. The truly vast scale of the alleged fraud is either scary, or funny; I prefer it to be funny - completely surreal.
It is staggering that no one noticed - as someone on 5Live said, other traders must have asked each other who it was who was making such large trades in the market.
Apparently, the "rogue trader" had positions valued at about £50bn. That is larger than, for instance, Royal Bank of Scotland. No one noticed one guy buying something bigger than RBS?
Absolutely staggering.
It is staggering that no one noticed - as someone on 5Live said, other traders must have asked each other who it was who was making such large trades in the market.
Apparently, the "rogue trader" had positions valued at about £50bn. That is larger than, for instance, Royal Bank of Scotland. No one noticed one guy buying something bigger than RBS?
Absolutely staggering.
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Date: 2008-01-25 08:37 pm (UTC)Wow.
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Date: 2008-01-25 09:41 pm (UTC)