Won't Somebody Please Think of The Traders??

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 – one of the traders in question - attacked the banks leadership with a LinkedIn post on Thursday saying the “entire risk team and other bosses” 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 Jérôme 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 — a trader and a team leader — after a “one-off trading incident, which didn’t generate any profit impact and led to appropriate mending measures”.

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[yellowfish]

There is a decline in the quality of rogue traders.

[olivert.]

"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."

[defenstrator]

“He was briefly the world’s poorest man….” This is why I come here. The knowledge is great but the delivery is what makes it enjoyable.

[papadoupolous]

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.

[ABC-bmkl]

“If you’re not going to rely on a lawyer, you can at least rely on spellcheck.” 😂

[rendarecorrentecomopcoes]

It's about time socgen admits defeat and just rename the Delta One desk to Rogue One.

[Meitti]

Gotta love spoiled rich kids sleeping on their university classes then LARPing as traders right afterwards.

[mastergoblin]

the person is presumed innocent
until he or she become part of the Forbes top 100

[theautisticside]

I wouldn't even hire Kataria to run my lemonade stand. "According to me, buying 50M lemons was in my mandate..."

[Lugh]

"Don't blame me, blame them for not stopping me." 😂😂😂

[fakhruddinnalawala]

In Indian vernacular, "according to me" means something like "in my opinion" or "to the best of my knowledge", rather than something like "I authorised myself to do xyz".

[PhilippKern]

Missed opportunity for a Grammarly ad.

[idontknow]

Black Monday on the same day as MLK day. You can't make this sh*t up.

[Lawlietho]

The joke about Kavish being a VP and having to step up if something happens to the President is the funniest thing I have heard all week.

[LiberRaider]

Came for the financial insight. Subscribed for the unmatched sass.

[beccyvc]

The title is promising some sarcasm. Let me get a drink and popcorn 🤗

[Duncan]

The 'Defund Compliance' protest sign got me good 😂

[edward]

16:20 “.. . that’s why people often use lawyers, or at the very least, spellcheck”

BRAVO sir 😂😂😂

[RichWithTech]

The Tyler Lopez background photoshop was both artistic, yet intellectually compelling

Thanks for sharing your “KNAWRLEDGE”
As always Patrick

[johnhughes]

As someone who works in compliance you're never getting rid of us we are the Borg we will assimilate your trading desks, resistance is futile. Seriously conducting your legal defence on Linked-in just gives the prosecution more ammo