Latest Jérôme Kerviel Stories

2008-07-05 18:00:08

The French Banking Commission on Friday fined the bank Societe Generale euro 4 million for serious breaches in internal controls revealed by the bank's euro 4.9 billion trading loss. The commission also reprimanded Societe Generale, a leading French bank, for poor supervision that led to the unauthorized trades by Jerome Kerviel, the former trader blamed for the losses. The commission said the monitoring staff at Societe Generale was insufficiently sensitive to fraud issues, and that the...

Word of the Day
  • Nautical, the visiting and carousing of sailors in the Greenland ships.
This word is apparently from a confusion of two similar Dutch words: 'mallemerok,' a foolish woman, and 'mallemok,' a name for some persons among the crew of a whaling vessel.