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I'm not sure he should get less time than those above him. After all, and if what I have written is true (that is, if Kerviel isn't taking the fall for some other loss), he did go out of his way to falsify his accounts, and hide it from his superiors. I've read somewhere that his direct supervisor was replaced in early 2007, which means the new one wasn't really experimented.

The failure is more that of policy ; SG motivates all of the workers supporting traders by dangling in front of them the possibility of becoming a trader. Those new traders then know the bugs of the system they are not supposed to abuse.

And of course the mythology of the trader, the superman of the All-Powerful Market, is problematic in its own ways. The power these guys wield is astounding ; and for them it is often a game.

Un roi sans divertissement est un homme plein de misères

by linca (antonin POINT lucas AROBASE gmail.com) on Sat Jan 26th, 2008 at 03:24:31 PM EST
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