Won't Somebody Please Think of The Traders??
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Publicado 2024-05-04
The Société Générale Delta One Desk is back in the news after two traders were dismissed - accused of placing unauthorized risky options trades.
Kavish Kataria â one of the traders in question - attacked the banks leadership with a LinkedIn post on Thursday saying the âentire risk team and other bossesâ were equally responsible for the trades and complaining that his bonus had been withheld.
The Delta One desk that Kataria worked on is the same trading desk where rogue SocGen trader JĂ©rĂŽme Kerviel caused a $5.2 billion dollar loss in a 2008 scandal that caused the US Federal Reserve to cut rates to stabilize markets.
SocGen told Bloomberg News earlier this week that two people based in Hong Kong had left last year â a trader and a team leader â after a âone-off trading incident, which didnât generate any profit impact and led to appropriate mending measuresâ.
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Todos los comentarios (21)
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There is a decline in the quality of rogue traders.
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My advice to new investors: Buy good companies stocks and hold them as long as they are good companies. Just do this and ignore the forecasts and market views which are at best entertaining but completely useless.
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Grammar matters: knowing you're shit is quite different from knowing your shit.
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âHe was briefly the worldâs poorest manâŠ.â This is why I come here. The knowledge is great but the delivery is what makes it enjoyable.
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the person is presumed innocent until he or she become part of the Forbes top 100
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It's about time socgen admits defeat and just rename the Delta One desk to Rogue One.
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Missed opportunity for a Grammarly ad.
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Gotta love spoiled rich kids sleeping on their university classes then LARPing as traders right afterwards.
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My friend at BNY became Vice President 1.5 years of experience. They're handing these titles out like candy to obsufcate the actual important people. Such a mafia move.
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"I was not aware this is against the law, because I have done this several times and this is the first time you caught me, Officer."
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"Don't blame me, blame them for not stopping me." đđđ
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I wouldn't even hire Kataria to run my lemonade stand. "According to me, buying 50M lemons was in my mandate..."
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âIf youâre not going to rely on a lawyer, you can at least rely on spellcheck.â đ
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The 'Defund Compliance' protest sign got me good đ
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Black Monday on the same day as MLK day. You can't make this sh*t up.
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Came for the financial insight. Subscribed for the unmatched sass.
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ovenright trade = hot trade; risk re-sporting = making a competition about who can take more risk.
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The title is promising some sarcasm. Let me get a drink and popcorn đ€
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"That's often how I feel, too." rofl
