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TUESDAY JANUARY 29
Why He Did It Traders are not at all interested in the soul-searching and head-scratching over Societe Generale’s risk controls, or how it was duped into overlooking allegedly fictitious trades for possibly two or three years. This is no mystery to them; they know only too well how it all works. What they want to know is what motivated Jérôme Kerviel to do what he did. So far in the internal debate, two camps are emerging: one that believes that the modestly paid Kerviel just wanted a chance to make winnings big enough for the bank to embrace him as a star (this assumes that he would not have been automatically kicked out of the bank for misleading it for so long, gains or no) and one that believes he actually hoped to take the bank down – permanently. Finally, it looks like we have our answer. January 2008New User?Sign up to get free access to TraderDaily.com
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