Yesterday in France, a court sentenced everyone's favorite rogue trader, Jerome Kerviel, to three years in prison and said he must also "pay back" the $6.8 billion that was lost. At his current salary as a technology consultant, it should only take Kerviel 170,000 years to do so. Attorney Olivier Metzner said his client is "disgusted" by the ruling and today JK compared it to being "hit on the head with a club...I'm starting to digest it, but I'm nonetheless crushed by the weight of the sanction and the weight of responsibility the ruling places on me." Well his former employer has some news that might just turn that frown upside down.
Yes, he's still going to the big house, but! He doesn't have to pay back the full $6.8 billion! According to bank spokeswoman Caroline Guillaumin, they were just messing with the kid. You know, try and scare him a little bit. "There's no question of asking one man to pay such a sum," she told a French radio show. Having said that, the bank still wants Kerviel to do something and it should be "in the interests of the shareholders and employees, and that take into account his situation."
So, any ideas? Shall he serve as a butler for every shareholder for a few days? Some courtesy reach arounds? Or, he could tell us more about the client he invented names Matt, who, in fake world, loves to play rugby and cover JK's massive unauthorized bets. Really make people believe. Just opening thoughts. Would love some input.