Thursday, January 24, 2008

I still can't believe

I still am amazed that one rogue trader in a big French Bank lost nearly 7.6 BILLION American Dollars in trading losses. Don't you wish for the good old days when the banker would steal some money - say a million or so - and run off to the Swiss Alps? And get caught in Geneva by interpol.

In this case- the Bank has totally lost the money. 7.6 billion dollars.

how many zeros those that make???

lets see.

7 600 000 000. Doesn't seem like a lot now does it.

You could buy a lot of Fergus hamburgers for that.

Its sad but the trader was just trying to meet his quota and make up for his losses and it just quickly spiralled quickly out of control. A bit like a gambler at the casino.

He should have just been straightforward dishonest and just walked off with a million dollars in his brief case. And gone to Bora Bora and buy himself a different identity.

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