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French 'rogue trader' heralded 'hero'

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The Societe Generale employee who has now officially been put under investigation, has quickly become a new 'hero' for the French nation.

Although he has been labelled as a criminal by the bank, many see him as a man that has been exposed, not for his own actions, but rather as a scapegoat in "the outrageous greed of global finance."

Kerviel was freed on bail late Monday after being placed under formal investigation for "breach of trust", "falsifying and using falsified documents," and "breaching IT procedures," although not for any fraud specific charges.

Jerome Kerviel is said to have put the landmark losses down to a passion for wanting to be an "exceptional trader" who could "earn a bigger bonus." At present, it is reported he did not profit personally from any of the deals now under investigation according to a member of the prosecution.
mattbrawn

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