$7.2 Billion Loser
- added February 26, 2008
- 7 responses
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- pmayrhofer
- added this
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A stock broker working for the Societe General is responsible for the loss of $7.2 billion and some major soul-searching for the French financial industry.
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- pmayrhofer
- 6 months ago
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Great Pod. Very entertaining and educational.
However, the French trader interviewed was lying, we split the $7.2 billion!-
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- ThinkAbroad
- 6 months ago
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That was great. It is fascinating to think that a mistake caused a loss of money that I'm not sure I can even fathom. You're character was fantastic, funny, and articulate. I still don't think I understand the way that this happened because it is so incredible that one single person would have the access to such a vast sum. One thing that is missing from the pod is the state of the company after it got sucker punched. You would have to think that such a loss would greatly effect any company regardless of their size.
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An amount of that size would have to damage several companies and, consequently, thousands of people.
You'd think that worldwide finances would be more closely monitored and guarded in stock trading as a result of Enron and such. Go figure. Who else was in on this catastrophy and why aren't we hearing more about them? -
Trés bien, c'était drôle.
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It's amazing to think that one man could get away with so much money without being detected. If anything he could probably get a movie or book deal out of this whole thing.
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Wow, great pod! I love that you brought this to my attention, and broke it down in a way that was informational and entertaining (I love the car crash analogy). It’s a hard topic to make accessible to the average viewer (with all the background and explanation needed to properly describe the situation), and probably even harder to represent visually. It kind of reminds me of the documentary ‘Enron’. Well done!
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thanks!
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- pmayrhofer
- 5 months ago
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