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To: joseffy who wrote (37249)1/27/2008 6:40:59 PM
From: Bucky Katt  Read Replies (2) | Respond to of 48461
 
Imagine that the oversight controls were so bad at Societe Generale that 1 person can control $73.5 billion of derivatives and no one knows about it?

Perhaps that guy is just a scape goat, and the bank didn't want to admit they did something so stupid?

Either way, I would venture a guess that there are more events
like this waiting to pop out of the swamp.

These things could reach farther than the financial markets.