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Telling the Truth Slowly

Greg Newton, over at the Naked Shorts has a great series of stories for your weekend reading.

But the one I liked the best was:

"All that stuff about Jérôme Kerviel acting alone in setting up that ?5 billion discrepancy in Société Générale's trading account? As they say in France, taureau-merde.

The formal cover-up investigation suggests that his trading assistant was in on the act, and his alleged supervisors were either out to déjeuner or en vacation."

Really, the low level trader who made a billion or two for Soc Gen before being shut down wasn't a lone ranger?

My goodness, who would have thought that? (Well except for me, several months ago.)

Related articles

• Rogue French Trader May Have Had Help, Audit Finds [via Zemanta]
• SocGen trader may have had help: internal report [via Zemanta]
• Report in Trading Scandal Cites Failure of Managers [via Zemanta]
• Rogue trader Kerviel gets new job [via Zemanta]
• SocGen sacks two Kerviel supervisors [via Zemanta]
• Société Générale to report on trading scandal [via Zemanta]

Full post as published by Misleading Advertising Law on June 07, 2008 (boomark / email).