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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 232.37-0.9%Dec 3 3:59 PM EST
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To: Slumdog who wrote (138777)2/6/2002 7:46:58 PM
From: H James Morris  Read Replies (1) of 164684
 
"It's a heavy blow but not a fatal one," said AIB chief executive Michael Buckley, adding that there was an important distinction between this case and the Nick Leeson affair.

"What Nick Leeson did was cause terminal damage to Barings. But an important point I want to make is that even when we write off that $750m, we will be making a profit after tax for 2001," said Mr Buckley.

In 1995, Singapore-based derivatives trader Nick Leeson ran up £830m ($1.17bn) in unauthorised trades that caused the collapse of the blue-blooded Barings bank.
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