Jerone Kerviel

#1

Guys, what do you think are the implications of actions of mr. Kerviel(SocGen rogue trader) has anything been changed since then in the banking industry? Governements or any body has done anything since then?
thanks

#2

I think the credit crunch put things into perspective. It wasn’t just one rogue banker who was arsing around with bucket loads of cash. It was every banker.

Saying that, it does seem that on the whole French bankers and the French banking system in general are/is much more restrained, ordered and less amoral than the UK or US.

LB - there is currently huge talk of increasing regulation within financial systems, introducing international financial watchdogs… I think Sarkozy even wants a member of an international regulatory organisation operating within each bank in every country. However, I don’t think anything in particular was introduced because of Jerone K himself.

#3

Thanks a lot Redsuperted, but if there are any other views please post them.

Red… what about recent huge interest cut, do you think it has any effect or sounded any implications? namely in banking sector. any specific points? and arguments?