Not everyone would have the balls, but Adobli did and for that he deserved props. Read more »
John Hughes
Kweku Adoboli’s Colleague Couldn’t Help But Admire The Cojones It Took To Lose UBS $2 Billion
By Bess LevinKweku Adoboli’s Weather Tracker Didn’t Account For Cloudy With A Chance Of Severe Losses
By Bess Levin
John Hughes, the former senior trader on the ETF desk, said Adoboli told him in January last year about an internal account he called his umbrella. Prosecutors allege Adoboli created the account to pool profit from trades he hadn’t booked to use to cover up future losses. Hughes testified that he thought the umbrella referred to a profit pool that hadn’t been booked. “You live in blue sky scenarios,” Hughes wrote in an instant-message exchange with Adoboli in January 2011. “It often rains,” Adoboli responded. “I learned that last year. So I built an umbrella.” [BusinessWeek, Related: "I take responsibility for my actions and the shit storm that will now ensue."]
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SoFi Answers the Call to Refinance Student Loans and Provides Unique Community Benefits
This is a guest post written by SoFi’s CEO, Mike Cagney.
CLICK HERE TO READ THE FULL ARTICLE
Recently, there’s been a lot of talk amongst leaders in Washington about how to improve the painful process of repaying student loans. At SoFi, we feel your pain and work hard to offer more flexible, more affordable options for our borrowers. One idea that’s getting a lot of attention is increasing the options for refinancing debt after graduation. The only lender currently focused on refinancing private and federal student loans is SoFi.
We recognized early on that borrowers who have made timely payments on their loans, graduated from school, and have a job should be able to refinance their student loans at a lower interest rate. This may be why, after resuming lending by invitation, the media became increasingly interested in what we are doing.
In a recent article posted on MainStreet.com SoFi General Counsel Rob Lavet had this to say about SoFi’s ReFi products: Read more »
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1. She Isn’t Certified
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