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SocGen's rogue trader dealing with large pool
French bank Societe Generale said Friday that the rogue trader who cost the bank $7.14 billion had been trading with a far bigger pool -- tens of billions of dollars. A bank official confirmed that the size of the trader's positions had reached "several tens of billions of euros," a staggering sum for a bank whose market capitalization is $52.6 billion. The official spoke on condition of anonymity in line with bank policy.
Posted on January 25, 2008 6:57 AM PT | Permalink
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