Rogue Traders

 

Rogue traders are in the news again. The term was coined in 1995 when Nick Leeson bankrupted Barings Bank through risky derivatives dealing in Singapore. He became the subject of many books and a feature  film. Now Jerome Kerviel has lost 4.9 billion euro for Societe Generale and also become a folk hero in the process. An American business is selling Kerviel T-shirts and both publishers and Hollywood are tempting him with book and film offers. If you want to know more about the background to this phenomenon of rogue trading, there is a long article on the psychology of financial risk-taking entitled “Folly, fantasy and roguery”  by Nigel Nicholson and Paul Willman which appeared in the Financial Times on June 13, 2000. This is one of a series of in-depth articles on risk ” Survey – Mastering Risk”published in the FT in 2000. There are a lot more recent  articles and blog entries from the experts who write in the British broadsheet newspapers which appear in the database Nexis  Nexis also gives access to foreign language newspapers so if you read French you will be able to follow how the latest financial scandal is being covered in the press in France.

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