£1.5 Bn Fraud & Last Phone Call with UBS 'Rogue Trader'

[Perrin 10]

(from The Guardian newspaper)

 

UBS rogue trader Kweku Adoboli jailed over 'UK's biggest fraud'

 

Junior City player, 32, sentenced to seven years after dispensing with hedging safety nets and racking up losses of over £1.5bn

 

Link to The Guardian - Last phone call.

 

Link to The Guardian - Sentenced to seven years.

[SIUYA 11]

article this week........................

Are Junior Managers Wall Street Sacrificial Lambs?: Video - Bloomberg

[TheNegotiator 13]

I think that this raises more questions than anything else about the transparency of the industry and the kinds of trading allowed to go on.

[SIUYA 11]

Mit you forgot....

 

The star manager - the one who made a lot of money letting rouge traders go crazy under their watch, taking the credit, qudos and money, until it blows up. Then they blame the risk managers, traders and others and either resign and get paid out again (taking one for the bank) or somehow manage to get promoted elsewhere to avoid embarrassment.

[BlueHorseshoe 10]

Mit you forgot....

 

The star manager - the one who made a lot of money letting rouge traders go crazy under their watch, taking the credit, qudos and money, until it blows up. Then they blame the risk managers, traders and others and either resign and get paid out again (taking one for the bank) or somehow manage to get promoted elsewhere to avoid embarrassment.

 

I think if you take everything trading specific out of the equation above, you've pretty much described all management in all industries there!

 

BlueHorseshoe

[BlueHorseshoe 10]

Mit you forgot....

 

The star manager - the one who made a lot of money letting rouge traders go crazy under their watch, taking the credit, qudos and money, until it blows up. Then they blame the risk managers, traders and others and either resign and get paid out again (taking one for the bank) or somehow manage to get promoted elsewhere to avoid embarrassment.

 

I think if you take everything trading specific out of the equation above, you've pretty much described all management in all industries there!

 

BlueHorseshoe

[SIUYA 11]

it is a bit camp....

there was this band in Oz called rogue traders...

Rogue Traders - Wikipedia, the free encyclopedia

catchy but crap.

 

There is a massive difference between a rogue trader and a rogue manager. if you asked me i would take manager any day - usually no jail time, but still plenty of cash.