Item : Not buying the Jerome Kerviel - SocGen story

Item : Not buying the Jerome Kerviel - SocGen story

• But with all the other facts that don't add up, it almost defies credulity.
• The margin requirements necessary on the number of futures contracts necessary to produce such a loss would come to about €400 million. Where did he get the money?
  
• SG has decided to prosecute him but on only very limited terms: document fraud and attacks on their internal control systems while not pursuing any monetary damages and saying that he did not
  attempt to profit from the trades. This will allow them to pursue him in the courts on a very focused case which reduces the risk that they will have to reveal any of their internal accounting.

So the obvious question is: are the trading losses ascribed to Jerome Kerviel, the rogue trader, vastly exaggerated and did the bank use this occasion to attribute more losses to his account that he was really guilty of... That's today's contribution to the great body of work surrounding conspiracy theories :-)

-if you look in my archives you will see i pegged the entire event as a a scam from the get go. -st0ckman