I blame the parents
Yay. More rules. I expect that these are special ones that won't be broken.
re Graham - if he'd been caught after making massive profits, he'd have been sacked sure as eggs is eggs. Despite the impression you may gain from the media, banks aren't interested in gambling their entire future on the markets and having nutters like Kerviel around isn't good for one's long term survival.
Making a bazillion bucks one minute and then going bankrupt the next isn't a solid business plan and it certainly hasn't been good for Bouton or the board's reputation. They'll be spending most of the next few years fending off lawsuits from the shareholders and the French regulator. Fun fun fun for them !
The idea that this is some sort of way of covering up their sub prime losses is laughable too. Pretty much every bank in world has taken a hit of some sort from the sub prime debacle. Covering it up with a massive c*ckup like this is akin to shooting yourself in the foot when you've got a veruca. And so has everyone else.
That's the top catchphrase in the wife's office (software development), always said in a nervously chipper fashion. Usually the answer turns out to be "Ooo. It's a bit more complicated than we thought".