Rogue Trader strike again, and Fed caught flat footed

http://www.bloomberg.com/apps/news?p...6sY&refer=home

The Fed must be really embarrassed for bailing out the market on Tuesday. Its not the bail out that's bad, its the timing of the bail out. LMAO.

He has access to 7 billion in capital and they're paying him 100k Euros.

That's absurd.

He probably lost the money on purpose.

"My raise is what?", "listen Mr. Manager I'll need 3% of what I made on this account or I'll make that Sub-Prime write down look like day at beach."

Yeah noticed that too

I dont know how they do these things. Dont they have like a unit supervisor that monitor all these small time traders?

I see a movie pending, starring Ewan McGregor...

He should have used a stop loss.

.....guess he should've been using one of the many systems available here at FF!

In fact it's not a question of stop loss.

He had 40-50 billion € position and had "only" 1 billion € loss on satursday this is only 2% overall loss...

The problem is that SocGen decided to close all the positions on monday and the next 2 days and doing that pushed the loss to 5 billion € as the market dipped a lot on monday in particular.

Picture

He seems to be a nice guy...

Actually, he DOES look like Ewan McGregor

He should've spent some time reading the money management articles in these forums

Nope, appropriately..........he actually looks like Bud Fox.

"Money never sleeps Pal"

I see a movie pending, starring Charlie Sheen...

Like old Yogi likes to say......"Deja Vu all over again"