24 January 2008

1 € Euro = 2.10192004 U.S. Dollars

French bank, Société Générale, disclosed today that a rogue trader had defrauded the company of almost €5 billion. The dude was a junior employee making about €100,000 including bonus. Somehow the trader managed to conceal his positions through his knowledge of the administrative side of the bank, "the middle office", where he worked for three years prior. Read the full article if you so desire.

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