MLK day 2008

I am sure some here don't remember, overseas down and locked limit down for a time here. Anyone have the vidoe of the kid blowing up on the tf?

 

Oh yeah. I remember that vividly.

Soc Gen dumping billions in futures. The fed cutting rates because they had no idea what was going on.

In hindsight given that Soc Gen didn't have the decency to inform regulators before the dumping, why the Fed bailed them out of AIG.

 

1) Ah yes, Jerome Kerviel and SocGen.
2) He's French. A real, true, full-blooded, pure-bred, dyed-in-the-wool, bonafide, triple-"A", 1000% douche'.

 

http://www.huffingtonpost.com/2012/11/05/jerome-kerviel-most-debt-in-the-world_n_2077219.html

 

Remember how Soc Gen had the courtesy to tell all the regulators that they were selling those billions into the market. Instead they sat quietly and let the rest of the world panic.