Societe Generale Scandal
http://news.bbc.co.uk/1/hi/business/7208439.stm
Uh? we are one of the most influent banks in Europe, we want to play a global role in finance, but sorry we could not check what a 31 years old employee was doing with your money.
Do not worry, everything is fine and internal procedures will be reviewed. The bank is ok, just a rogue trader that was very expert and knowledgeable of the bank's mechanisms. We'll take care.
Is that enough? I think a number of supervisors and managers should be accountable.
The whole bank's organization is lacking something. Or am I wrong?
Uh? we are one of the most influent banks in Europe, we want to play a global role in finance, but sorry we could not check what a 31 years old employee was doing with your money.
Do not worry, everything is fine and internal procedures will be reviewed. The bank is ok, just a rogue trader that was very expert and knowledgeable of the bank's mechanisms. We'll take care.
Is that enough? I think a number of supervisors and managers should be accountable.
The whole bank's organization is lacking something. Or am I wrong?
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