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Thread: Biggest trading scandal in the world?
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[quote=FRANKENSTEIN,267627]Jérome Kerviel has become famous in the world now. He made a 50-billion-euro ($73.3 billion) market bet and let Societe Generale suffer a great loss of 7 billion dollars. The bank admitted that its risk systems had failed to detect the market bet by Kerviel. How can a trader be able to conceal positions that were higher than the gross domestic product of Morocco? It is said that the drastic drop in European share markets have had something to do with this.[/quote]
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