Saturday, January 26, 2008

Societe Generale- Rogue Trader

In response to a report in The Independent:

Rogue traders, by definition, are irrational. They are like suicide bombers.Their malevolence goads them to destroy others even at the cost of destroying themselves.After every rogue trade that is identified (and after every suicide bombing), security measures are streamlined in some ways. Rogue traders and suicide bombers keep an eye on remaining gaps in the control system and continue their heinous way of life. Can we ever have fool-proof controls? I bet not.