A certain Mr Kerviel trading for French Bank Societe Generale just lost so much money that would extinguish the economies of some small developing countries.I mean an amount so large it is more then the GDP of some countries, what is the world coming to.
Question is, why do banks allow so much money in the hands of just one individual? the craze for greater profitability you may say.
Kerviel probably did not know he could loose so much, and just kept covering up and trading more so that he could maybe recover some of the losses, but instead he made more losses.Societe Generale says his actions cost it 4.9bn euros ($7bn; £3.7bn).
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