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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
callithump
  • A somewhat riotous parade, accompanied with the blowing of tin horns, and other discordant noises; also, a burlesque serenade; a charivari.
'Callithump' is a back-formation of 'callithumpian,' a 'fanciful formation' according to the Oxford English Dictionary. However, the English Dialect Dictionary, says 'Gallithumpians' is a Dorset and Devon word from the 1790s that refers to 'a society of radical social reformers' or 'noisy disturbers of elections and meetings.'
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