Wednesday 06 October 2010
Kerviel sentence shocks France
Kerviel goes to court
Reuters
By Amanda Morrow

Many French people have greeted rogue trader Jerome Kerviel's tough sentence by a Paris court Tuesday with incredulity. The media and government have expressed astonishment. The former Société Générale employee has appealed his three-year prison term, and 4.9 billion euro compensation bill.

tags : Banking - Capitalism - Paris - Trade
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Real people are the victims...

It was not a victimless crime. I found it amazing that the press did not point out the fact that the money he lost was the shareholders who are in fact, actual real people. Yes, there was a serious risk management failure in the bank but he still did what he did, knowing the consequences. He was responsible at the time for significant global financial turmoil which is directly linked to the current high unemployment rates today. Real people lives were affected by his actions. Peter

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