Comments on: Oh Dear, Soc Gen – $84bn? http://ozrisk.net/2008/01/28/oh-dear-soc-gen-84bn/ Risk Management in Australia Wed, 30 Nov 2011 12:41:58 +0000 hourly 1 http://wordpress.com/ By: Andrew http://ozrisk.net/2008/01/28/oh-dear-soc-gen-84bn/#comment-26058 Thu, 31 Jan 2008 22:12:06 +0000 http://ozrisk.wordpress.com/?p=285#comment-26058 Steve,

The firings then probably would have been with the counterparty banks :)

Seriously, though – trading outside limits like this is just wrong. The occasional, slight breach – reportable and discipline should be imposed, but this? Systemic and human failure across the board.

]]> By: Steve http://ozrisk.net/2008/01/28/oh-dear-soc-gen-84bn/#comment-26057 Thu, 31 Jan 2008 16:56:38 +0000 http://ozrisk.wordpress.com/?p=285#comment-26057 What would have happened if he was 5 billion euros UP?

Maybe the same guys who got fired would still be fired *except* for the trader?!

]]> By: Martin Davies http://ozrisk.net/2008/01/28/oh-dear-soc-gen-84bn/#comment-26054 Wed, 30 Jan 2008 11:17:34 +0000 http://ozrisk.wordpress.com/?p=285#comment-26054 Perhaps the trader should be put back on the desk to close out his positions or fulfill his trading strategy.

Crazier strategies have won …

More importantly perhaps management should be put in a questioning room and hauled in to explain their behavior or lack of insight or even greatness with incompetence.

Who knows this might be the rogue trader who lives to trade another day and for once management loose their bonus and have to look to e-financials for another position.

]]>