Daily Archives: September 19, 2011

Worthless Afro Hire Costs Bank 2.3 Billion

They put him into a backroom position as trade support analyst, evidently giving him the knowledge on how to conceal his trading activity. He made bets on the swiss franc without any authorization and masked these moves by making “short calls” when the franc moved downward. Soon his secret little fun and games racked up billions in losses. Continue reading

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