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Rogue trader who lost £170 billion arrested

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    #11
    Originally posted by Doggy Styles View Post
    What you are describing is private bank loss, not sovereign debt. Sovereign debt is government debt. Why would a private bank pretend a government deficit is their fault?
    Maybe this will help:

    BNP Paribas to suffer losses on Greek debt | News | Fundweb
    "A life, Jimmy, you know what that is? It’s the s*** that happens while you’re waiting for moments that never come." -- Lester Freamon

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      #12
      Originally posted by Freamon View Post
      Maybe this will help:

      BNP Paribas to suffer losses on Greek debt | News | Fundweb
      I can't find where it blames that on a rogue trader?

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        #13
        Originally posted by Doggy Styles View Post
        I can't find where it blames that on a rogue trader?
        But can you find a similar article about UBS?
        "A life, Jimmy, you know what that is? It’s the s*** that happens while you’re waiting for moments that never come." -- Lester Freamon

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          #14
          Originally posted by Doggy Styles View Post
          I can't find where it blames that on a rogue trader?
          That's 'cos someone too high up the food chain authorised it.

          They need someone relatively junior to hang the tag "rogue trader" on.
          Behold the warranty -- the bold print giveth and the fine print taketh away.

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            #15
            The charges add that Mr Adoboli filed false accounts between October 2008 and December 2009, and from January to September 2011.
            How did they not spot a problem that has gone on since Oct 2008 FFS

            BBC News - UBS 'rogue trader': Loss estimate raised to $2.3bn
            Fiscal nomad it's legal.

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