Societe Generale

  • 04 Sep 2014 at 5:30 PM

Jérôme Kerviel’s Week Is Looking Up

Yes, under the terms of his parole he’ll have to follow a curfew but it could’ve been a lot worse (in this case, worse meaning prison and a multi-billion fine, which would’ve taken god-knows-how-many walk-a-thons to pay back). Read more »

  • 09 May 2014 at 2:52 PM

There Are Some Upsides To A €4.9bn Fine

We’re not going to sugarcoat it. There aren’t a lot. But if you find yourself frequently plagued by parking, speeding tickets and the like, consider this silver lining: Read more »

Société Générale was, like Goldman Sachs, allegedly much better at coming up bribes than it was as managing the Libyan sovereign wealth fund’s wealth. Read more »

Yes, he’s already two hundred miles in, but with seven hundred to go, there is still plenty of time to hit up like-minded people to pledge just one dollar (or more) for every mile walked, the proceeds of which will go to financial tyranny research and to getting him some Dr. Scholl’s sneaker inserts. Read more »

  • 04 Mar 2014 at 2:51 PM
  • Banks

Russia, Ukraine Not The Best Places To Be In Banking Right Now

And, unfortunately for Raiffeisen International, it’s not a great time (read: not possible) to get out , either. Read more »

  • 19 Feb 2014 at 5:17 PM

Pope Francis, Rogue Trader Have A Chat

Rogue trader Jerome Kerviel may have fallen from grace in the banking world. Inside Vatican City, however, he was granted a brief audience Wednesday with Pope Francis himself. Mr. Kerviel, the former Société Générale trader convicted of making unauthorized trades in 2008 that cost his bank €4.9 billion, was among the handful of pilgrims who got to personally meet the pontiff at the close of his general audience in St. Peter’s Square, according to his lawyer David Koubbi. Mr. Koubbi declined to comment on what the former trader and the leader of 1.2 billion Roman Catholics had to say to one another. Vatican spokesman Rev. Federico Lombardi said he was unaware if the pope met the disgraced trader, adding that Mr. Kerviel wasn’t “prominent” enough to have been named in the pontiff’s official guest list for the day. Father Lombardi added that the Argentine pontiff regularly meets with convicts inside his residence as part of the pontiff’s outreach to the downtrodden. Mr. Kerviel was one of thousands of people who attended Pope Francis’ weekly public audience on Wednesday. After the general audience came to a close, however, the former trader was part of very a select group of people that get to line up and individually greet the pontiff, a practice known as the baciamano, or “hand kiss.” [WSJ]

  • 07 May 2013 at 10:59 AM

Layoffs Watch ’13: SocGen

The French are planning cuts, but only for those who want ‘em. Everyone else can stay. Read more »

Nothing has been finalized, though according to a spokesperson for the bank, anyone who’d like to take a little initiative and just would be helping the bank out big time. Read more »