Mortgage and Financial News From 2008-1-24 Page 8

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  • French Bank Rocked by Rogue Trader - Wall Street Journal

    French Bank Rocked by Rogue TraderWall Street Journal - 46 minutes agoThe mortgage mess has made clear that many risk systems weren't properly set up to measure the likelihood of defaults and how these would affect debt slices ...
    2008-01-24 09:02:53

  • Suspected rogue trader Jerome Kerviel costs Societe Generale $8bn - NEWS.com.au

    Suspected rogue trader Jerome Kerviel costs Societe Generale $8bnNEWS.com.au, Australia - 43 minutes agoTHE biggest rogue trader scandal in history hit Societe Generale overnight as the French bank accused a junior employee of a fraud costing $US7 billion ...
    2008-01-24 09:05:20

  • How Greed Won the West: Huntington's Rapacity, Stanford's Wiles - Bloomberg

    How Greed Won the West: Huntington's Rapacity, Stanford's WilesBloomberg - 40 minutes agoThey sated their hunger for wealth through fraud, congressional manipulation and strike breaking, Rayner shows. The story opens in 1848, when nuggets found ...
    2008-01-24 09:08:55

  • Once Again, the Risk Protection Fails - Wall Street Journal

    Once Again, the Risk Protection FailsWall Street Journal - 22 minutes agoAt Société Générale, co-Chief Executive Philippe Citerne blamed a rogue trader who used "pure fraud" to evade computer systems and employees to make big ...
    2008-01-24 09:26:55

  • Rogue Bankers - Wall Street Journal

    Rogue BankersWall Street Journal - 18 minutes agoThe bank has initiated "a dismissal procedure" -- not even possibly the biggest fraud in banking history merits an immediate firing under French labor law ...
    2008-01-24 09:30:53

  • Search for these words: - Wall Street Journal

    Search for these words:Wall Street Journal - 18 minutes agoChristian Noyer's protestations that the fraud actually took place on simpler transactions than those its oversight was designed to catch and that therefore ...
    2008-01-24 09:30:54

  • Hong Kong shares end morning higher on bargain-hunting after Wall ... - CNNMoney.com

    Hong Kong shares end morning higher on bargain-hunting after Wall ...CNNMoney.com - 4 minutes agoProperties and banks led the index higher on hopes lower mortgage rates will boost demand for real estate. The property index rose 5.6 percent to 35188.06 ...
    2008-01-24 09:44:18

  • Riley says he was councilman mentioned in audit of office equipment selection process (The Kansas City Star)

    Kansas City Councilman Terry Riley acknowledges that he is the unnamed councilman in a stinging audit on a city contract, but he denies any wrongdoing.
    2008-01-24 08:39:39

  • SocGen humbled by rogue trader scandal (The Globe and Mail)

    PARIS (Reuters) - French bank Societe Generale faced tough questions on Friday over how it failed to spot the biggest rogue dealing fraud in history, in which a single young trader triggered a $7 billion loss under the noses of top executives.
    2008-01-24 09:01:46

  • Asian shares extend gains on US stimulus deal (TurkishPress.com)

    Asian share prices rose sharply in early trade Friday as a quick agreement by US leaders on a stimulus package eased concerns over the fallout from a weakening US economy, dealers said.
    2008-01-24 09:09:20

  • Foreman: Grand Jury Wants to Make Presentation on Medina Investigation to Incoming Panel (Law.com)

    A grand jury in Harris County, Texas, that recently indicted Texas Supreme Court Justice David Medina and his wife isn't going to let the matter drop, even though the indictments recently were dismissed and a judge ruled the grand jury wasn't properly empaneled and its work was null and void. The foreman of the grand jury that indicted the Medinas says members of the grand jury plan to take what ...
    2008-01-24 09:13:52

  • SocGen humbled by rogue trader scandal (Interactive Investor)

    FTSE 100 latest: More than 400 new discussions. Find out what other interactive investors are saying.
    2008-01-24 09:15:49

  • Massive Fraud Costs French Bank $7.2 Billion (The Tampa Tribune)

    In what appears to be the largest trading fraud ever carried out by a single person, a young trader at French bank Societe Generale is accused of making unauthorized bets on stock markets that cost the bank nearly $7.2 billion but may not have netted him a cent.
    2008-01-24 09:15:57

  • Fraud costs French bank $7.18 billion (Wisconsin State Journal)

    PARIS — In what appears to be the largest trading fraud ever carried out by a single person, a young trader at French bank Societe Generale is accused of making unauthorized bets on stock markets that cost the bank nearly $7.2 billion but may not have netted him a cent. The bank called the fraud "exceptional in its size and nature," and said it apparently went undetected for more than a year by ...
    2008-01-24 09:24:13

  • Rogue trader blamed for 5-billion-euro French bank fraud (Servihoo)

    French banking giant Societe Generale said Thursday a single trader who fooled his bosses carried out a massive 4.9 billion euro (7.15 billion dollar) fraud -- one of the biggest in financial history.
    2008-01-24 09:27:38

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