Friday, May 9, 2014

Should I Even Care?

Today the FT has a long article on the infamous Jérôme Kerviel, who made Soc Gen lose 4.9bi euros in 2008 due to cheating / forgery of trades.

Reading the article I felt that the journalist (or Jerome) was trying to blame the "system" for what he did.

 Jerome says "Think about my position. You have been condemned to pay €4.9bn, you have jail, you have the justice system against you. You have no life, few friends, no prospects. It’s difficult to rebuild any kind of real life with all that hanging over you,..."
Well, maybe you should have thought about that BEFORE doing you what you did.

I feel no pity for those involved in this case. The trader cheated hoping to make big bonuses, while his bosses probably knew and covered him up while things were working well.