Who Are You Jerome Kerviel?


	Who Are You Jerome Kerviel?

BobbyDelray

1-24-2008 11:18 PM

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1-25-2008 2:06 AM

mickfinn

Nick Leeson, your crown is taken!

1-25-2008 11:28 AM

BobbyDelray

He mauled him mickfinn. I was thinking the same thing.

Someday we might see a story where one of these nutjobs got it right.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/445f2849-379d-4a91-9c1e-0d14014b80ac/D0F5B05F-EDF0-401F-A7D7-3A151C77BC32/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://blogs.wsj.com/deals/2008/01/24/who-are-you-jerome-kerviel/" href="http://blogs.wsj.com/deals/2008/01/24/who-are-you-jerome-kerviel/" style="font-size: 11px;">blogs.wsj.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blogs.wsj.com/deals/2008/01/24/who-are-you-jerome-kerviel/">Before today the world knew very little about Jerome Kerviel</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blogs.wsj.com/deals/2008/01/24/who-are-you-jerome-kerviel/">Only <A href="http://www.orcofi.com/modules.php?dep=&ent=&fct=Trader+-+Delta+One+products&name=Annuaire&promo=">one Google reference</A> we could find </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blogs.wsj.com/deals/2008/01/24/who-are-you-jerome-kerviel/">Here is what has emerged this morning on the latest entrant into the <A href="http://blogs.wsj.com/deals/2008/01/24/a-randem-walk-down-wall-streets-rogues-gallery/">rogue (trader)’s gallery</A>.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blogs.wsj.com/deals/2008/01/24/who-are-you-jerome-kerviel/">Kerviel</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blogs.wsj.com/deals/2008/01/24/who-are-you-jerome-kerviel/"><div align="center"><img src="http://content6.clipmarks.com/blog_cache/blogs.wsj.com/img/C3F67F79-DD06-4AF3-9118-549BA108E6F5" alt="Jerome_blog_20080124114334.jpg" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blogs.wsj.com/deals/2008/01/24/who-are-you-jerome-kerviel/">who turned 31 this month,</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blogs.wsj.com/deals/2008/01/24/who-are-you-jerome-kerviel/">Societe Generale in 2000 </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blogs.wsj.com/deals/2008/01/24/who-are-you-jerome-kerviel/">was working as a trader on the futures desk at the bank’s headquarters near Paris, according to <A href="http://online.wsj.com/article/SB120115814649013033.html?mod=hps_us_whats_news">The Wall Street Journal</A>.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blogs.wsj.com/deals/2008/01/24/who-are-you-jerome-kerviel/">He was apparently in charge of futures hedging for European equity market indexes</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blogs.wsj.com/deals/2008/01/24/who-are-you-jerome-kerviel/">The enormity of the losses caused by the Frenchman is inversely proportional to the size of his pay</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blogs.wsj.com/deals/2008/01/24/who-are-you-jerome-kerviel/">Kerviel earned less than 100,000 euros a year ($146,000), including bonus, according to <A href="http://www.bloomberg.com/apps/news?pid=20601087&sid=a8GBEB7UuuXc&refer=home">Bloomberg</A></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blogs.wsj.com/deals/2008/01/24/who-are-you-jerome-kerviel/">Kerviel only moved to the trading floor from the back office in 2006</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blogs.wsj.com/deals/2008/01/24/who-are-you-jerome-kerviel/">t was there, presumably, that he learned how to game the giant bank’s compliance system and cause a more than $7 billion write-down in the process</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blogs.wsj.com/deals/2008/01/24/who-are-you-jerome-kerviel/">A spokesperson for the bank told Bloomberg that Kerviel is “very quiet and a loner</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blogs.wsj.com/deals/2008/01/24/who-are-you-jerome-kerviel/">He had made his dream of becoming a trader come true.”</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/D0F5B05F-EDF0-401F-A7D7-3A151C77BC32/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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