Former SocGen inspector tells of trading room anarchy
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Profit-crazed traders, controllers out of their depth and executives who turn a blind eye: a former inspector at Societe Generale paints a damning picture of trading room anarchy at the scandal-hit bank.
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Trader blamed for â¬4.9bn loss at SociÃ©tÃ© GÃ©nÃ©rale being questioned, reports say
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Senior French politicians stepped up calls for top managers at SociÃ©tÃ© GÃ©nÃ©rale to resign over a rogue traderâs deals that cost the bank more than $7 billion.
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The junior trader blamed for causing a $7  billion loss at French bank Societe Generale faced a second day  of questioning by finance police on Sunday.
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Documents suggest that a trader at SociÃ©tÃ© GÃ©nÃ©rale was aware of JÃ©rÃ´me Kervielâs surreptitious trading and that Mr. Kerviel understood the gravity of his actions.
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French bank Societe Generale faced tough questions on Friday over how it failed to spot the biggest rogue dealing fraud in history, in which a single young trader triggered a $7 billion loss under the noses of top executives.
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Societe Generale faces growing embarrassment after it emerged the French bank was warned last year about the suspect activities of Jerome Kerviel and its key fraud accusation against the 31-year-old trader collapsed.
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Societe Generale was warned about alleged rogue trader Jerome Kerviel last year, a prosecutor says.
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A former SEC guy is aiming to help you steer clear of ne'er-do-wells.
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A former Credit Suisse banker and a Pakistani financier are accused of conspiring to make illegal trades related to nine buyouts in which the bank was an adviser.
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France's finance ministry calls for tighter banking controls after the Societe Generale trading scandal.
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French investigators have stepped up efforts to find out how a self-effacing dealer at Societe Generale ran up a $7 billion loss that hoodwinked his employers, saying he was not on the run and would soon face questioning.
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French bank Societe Generale ,  at the centre of a huge trading scandal, began investigating  trades executed by junior trader Jerome Kerviel months before  his unauthorized activities were exposed in January, the  Financial Times reported.
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France has always had a soft spot for the lawbreaker. Now JÃ©rÃ´me Kerviel, the trader who cost SociÃ©tÃ© GÃ©nÃ©rale more than $7 billion, has attracted a fan club of his own.
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PARIS, Jan. 29 -- The 31-year-old trader accused of causing $7.1 billion in losses at France's Societe Generale bank told police investigators that his financial deals were so big that his bosses had to know about them, according to transcripts published Tuesday on two French Web sites.
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Societe Generale came under mounting pressure on Friday to give a full account of how a rogue trader managed to dupe his bosses and run up a $7 billion loss -- while his family said he had been made a scapegoat.
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SociÃ©tÃ© GÃ©nÃ©rale said the trader made bad bets on stocks and then, in trying to cover up those losses, dug himself deeper into a hole.