Soc Gen Rogue Trader

While I generally use Occam’s Razor to debunk conspiracies and realize how difficult setting up a scheme this would be, I can not bring myself to buy the €4.9b of recent losses at Soc Gen were incurred by a solo junior trader named Jerome Kerviel.

The whole story is unfolding such ironic inprobabilities, such as Risk Magazine naming Soc Gen, "Equity Derivatives House of the Year", it’s impossible to resist finding humor in what is a truly scary evidence of how vulnerable financial systems have become. 

Financial Cookery has a hilarious post on the background. (via Marc Andreessen)

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