"“Rogue” Trader Highlights Possible 9/11 and 7/7 Insider Trading
According to an article in The London Times today, Société Générale rogue trader Jérôme Kerviel profited enormously on the day of the 7/7 London bombings. He has also revealed how his company made huge profits on September 11th 2001, prompting some to return to questions over insider foreknowledge of both terrorist attacks."
That explains the DELAYS and some other things:
"Societe Generale probe hits 1-year mark" by Bloomberg News | January 23, 2009
PARIS - A year after Jerome Kerviel was blamed by Societe Generale SA for its record trading loss, he remains free after deflecting efforts to brand him a rogue employee and persuading judges to extend their criminal probe.
Kerviel told investigating magistrates of his "dissatisfaction" with their refusals to follow up on requests for things like outside experts after a nearly 11-hour long meeting, Bernard Benaiem, his lawyer, said outside the judges' offices yesterday.
Who can talk to judges that way unless they KNOW they have some sort of immunity?
The 32-year-old Frenchman, described by Societe Generale chairman Daniel Bouton on the day the $6.3 billion loss was disclosed as a "fraudster" and "terrorist," has since inspired a fan club, T-shirts, and even a comic book, while stating the Paris-based bank knew or should have known about his actions. The criminal probe has already lasted twice as long as lawyers for either side initially estimated, and it may be another year before a decision on whether Kerviel's case goes to trial, legal experts said.
"I would have expected things to have moved quicker," said Stephen Pollard, a lawyer at Kingsley Napley in London who represented Nick Leeson, whose $1.4 billion loss brought down Barings PLC in 1995.
Not me; not after reading what I did off the blogs.
Leeson was sentenced to prison about 10 months after his crime was uncovered. "Rogue trading cases are less difficult to establish than other types of fraud."
Societe Generale raised $7.15 billion from shareholders in March to offset the trading loss disclosed Jan. 24, 2008. The 145-year-old bank said Wednesday it earned about $2.6 billion in 2008, and broke even in the fourth quarter. The company will get $2.2 billion from the French state, as the government pumps cash into the nation's banks for a second time.So whose balls does he own?
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