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‘Risk Magazine’ Stands Behind (Possibly Flawed) Nomination Process


Alright, so there may have been some sort of mix-up with Société Générale’s accounting but Risk wants you to know that it continues to believe that the French bank deserves the equity derivatives house of the year award. The prize was given on the basis of SG’s innovation in derivatives in 2007, and we submit that in order to scale the heights of an illustrious list of criminals that includes everyone from Nick Lesson to that inimitable puppy lover, and in doing so dethrone the immortal Brian Hunter, Jerome Kerviel must’ve done a little if not a lot of “thinking outside the box.” Plus, it would be a bitch to take the honor back and give to someone else, as the plaque has already been engraved. In other news, Billion Dollar Fraud Quarterly also plans on rewarding SG for its innovation this year, and there’s power in numbers. DealBook’s Andrew Ross Sorkin is also giving props in a blog post later this afternoon and Ron Blarney has been rallying behind SG in AOL chat rooms since he woke up.
In our defence [Risk Magazine]
Equity Derivatives House of the Year - Société Générale [Risk Magazine]