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Article: A suspicion in France 'that this was inevitable' Culture of risk led Societe Generale to neglect warning signs from trader
- Article from:
- International Herald Tribune
- Article date:
- February 6, 2008
- Author:
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Nelson D. Schwartz and Katrin Bennhold The New York Times Media Group
International Herald Tribune
02-06-2008
A suspicion in France 'that this was inevitable' Culture of risk led Societe Generale to neglect warning signs from trader
Byline: Nelson D. Schwartz and Katrin Bennhold The New York Times Media Group
Edition: 1
Section: NEWS
PARIS --
Nicola Clark and James Kanter contributed reporting.
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The first e-mail message arrived in Societe Generale's offices on Nov. 7. The surveillance office at Eurex, one of the biggest European exchanges, alerted a compliance officer at the bank that for seven months a trader named Jerome Kerviel had engaged in not just one but "several transactions" that ...
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