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Old 01-24-2008, 04:37 PM   #1
Mormon Red Death
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Default Is this really possible or are they just finding a scapegoat?

http://articles.moneycentral.msn.com...s7Billion.aspx
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Old 01-24-2008, 05:52 PM   #2
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Default I read that earlier today.

I'm calling bullshit. Unnamed, in thirties, gamed the system, unknown whereabouts etc. Seems like so much CYA to me.
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Old 01-24-2008, 05:54 PM   #3
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Default Oops, I guess he's got a name now.

The article I read this morning didn't name him.
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Old 01-24-2008, 06:00 PM   #4
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It is possible, but it seems very impalusible to me as th earticle I read said he did so without any financial gain for 'irrational' reasons. What? Nobody smart enough to defraud a bank for 7 BILLION bucks does so without any effort at financial gain. Unless they didn't do it.
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Old 01-24-2008, 06:12 PM   #5
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Quote:
Originally Posted by creekster View Post
It is possible, but it seems very impalusible to me as th earticle I read said he did so without any financial gain for 'irrational' reasons. What? Nobody smart enough to defraud a bank for 7 BILLION bucks does so without any effort at financial gain. Unless they didn't do it.
The article I posted said he did it to cover his losses and bad plays he made. But that makes me wonder, a 31 year old has access to invest over 7 billion?
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Old 01-24-2008, 10:57 PM   #6
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Quote:
Originally Posted by Mormon Red Death View Post
The article I posted said he did it to cover his losses and bad plays he made. But that makes me wonder, a 31 year old has access to invest over 7 billion?

There is more than one of them who has access to that much money. You might look at this little gem I posted.

http://www.cougarboard.com/noframes/...tml?id=3366765

I should have said hedge fund or bank. No this doesn't surprise me one bit.
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Old 01-25-2008, 12:11 AM   #7
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Very possible. Check out the movie "Rogue Trader", starring Ewan McGregor. It tells the true story of how one man single-handedly brought down the bank that financed the Louisiana Purchase. Fascinating story.

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Old 01-26-2008, 06:34 PM   #8
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This is why I don't beleive it

Quote:
Adding to the mystery, the bank said Kerviel may not have made any personal gain from his unauthorized trades.
http://news.yahoo.com/s/ap/20080126/...8VIMBjDXoDW7oF
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Old 01-26-2008, 06:58 PM   #9
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You just have to love the French. The guy was making too much in profits in 2007 that he had to try and lose money to off set the gains, but did too good a job of it.

No wonder the liberals love the French.
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