Bad Month: Société Générale
It’s been a rough few months for banks, with dodgy debts laid bare and share prices tumbling. For France’s second-largest bank, Société Générale, fraud was added to these woes as arbitrage trader Jerome Kerviel was implicated in events that have led to €4.9 billion (£3.7 billion) of losses, not to mention further falls in the bank’s share price and an incalculable loss of reputation.
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